UAE Offshore Company Formation
Offshore Company Formation UAE
UAE offshore company formation offers the most viable way in utilizing tax-efficient strategies as it’s done in zero tax jurisdictions. Key benefits include freedom to conduct business operations without any intrusion, confidentiality over company’s financial position, and elimination of unwarranted bureaucracy and red tape.
Offshore Banking
Global banks are reluctant in opening accounts for UAE offshore companies. The business setup specialists of FAR Consulting Middle East will assist you in preparing all necessary documentation required in opening a corporate account in your preferred banking institution.
Our business setup specialists are closely working with financial institutions in order to help ensure a bank account for your offshore company is opened with little to no hassle or documentation.
For more information regarding the process of offshore company formation in UAE, call us TODAY!
Benefits of offshore company formation in UAE
Besides all these incredible advantages, an offshore company in the UAE can expect:
- Investment diversification and asset protection
- Zero personal and corporate tax
- Exemption from re-export duties
- Complete foreign ownership and without the involvement of UAE nationals as sponsors or shareholders
- Ability to open corporate accounts from UAE-established banking institutions
- Easy procedures for transfers of shares
- Access to banking facilities
- Complete anonymity
- Ability to conduct international operations
- Low operation costs
- Access to world-class investment management services
- Minimum number of shareholders or directors required for UAE offshore company formation is one
- No capital requirement
- Placement of company funds in foreign banks is permitted
- VAT, withholding tax, and tax on capital gains are not applicable
- Swift incorporation
- Guaranteed protection for investments and legal assets
Business Activities
FAR Consulting Middle East is among the leading firms providing offshore company formation solutions to clients seeking ways in minimizing taxes, limiting liabilities, and protecting assets. Associating with the firm allows you to utilize the extensive experience and expertise of our experts on offshore business setup for the following:
- International Trading – our business setup specialists can establish a UAE offshore company for international trading to take direct orders from clients/customers and have goods/services delivered directly to customers from overseas;
- Counseling and Consulting Firms – we also help set up consulting or advisory firms and businesses offering professional services for reduced/zero taxation and all other benefits from offshore company formation;
- Holding companies – an offshore company can be used in managing several businesses under a single holding structure;
- Trademark, patents, and copyrights – we can setup an offshore company to register all kinds of intellectual property;
- Investment companies – for companies who want to invest in projects without having to disclose any kind of information to authorities, it is possible with an offshore company formation.
Support Services
Activities allowed for offshore companies:
- Advisory and consulting services;
- Holding, buying, and selling of company stakes;
- Activities of intermediary brokers or commission agents;
- General trading activities;
- Joint investments;
- Ship management and shipping
Restricted business activities for offshore companies:
- Commercial operations in the country;
- Banking, financial, and insurance services;
- Ownership of real estate properties within UAE with the exemption of areas approved by regulatory bodies
Business Setup Requirements & Procedure
As mentioned earlier, offshore company formation can be initiated even if an enterprise has only one shareholder. Different legal documentation and paperwork are required, depending on a company’s number of shareholders.
For an individual applicant:
- The applicant’s personal profile;
- Passport copy of the applicant;
- Passport copy of the company director (minimum of one director – a shareholder may also be the director);
- Bank reference letter;
- Power of Attorney notarized and legalized by UAE Embassy or Consulate;
- Proof of residence e.g. utility bills
For a corporate applicant:
- Certificate of company registration duly attested and legalized by the UAE Consulate in business’ country of origin;
- Memorandum of Association and Articles of Association duly attested and legalized by UAE Consulate in business’ country of origin;
- Certificate of company’s good standing duly attested and legalized by UAE Consulate in country of origin;
- Bank reference letter;
- Board resolution indicating intention to establish an offshore business entity;
- Appointment of directors