Offshore set ups are in the form of virtual companies. These kind of companies are formed mainly by the clients who need a bank account in the country without trading within UAE. These set ups allow the clients to get a license with bank account in UAE. No residence visas are provided under these set ups. An Offshore company formation offers a tax free structure along with providing confidentiality as well as a privacy to the shareholders of the company. It can be incorporated only by the registered agents.
Some of the advantages of setting up an offshore company are as follows:
- * 100% Expat ownership i.e. expat can get the 100% ownership of an offshore company, unlike mainland set up no local sponsor is required.
- * An offshore company is allowed to purchase, as well as sale property and take ownership of the property in UAE. (subject to the earlier approval of the land department).
- * It has fast set up Procedure i.e. Company Incorporation Certificate can be delivered in 1 working day!
- * It has low company set up cost.
- * Offshore setup can open a Bank Account in UAE through which online transactions from anywhere in the world are allowed.
- * It is a tax free company; 0% corporate tax, 0% income tax as well as 0% VAT.
- * A very well known Dubai address for an offshore set up to transact the business.
- * No annual audit requirements.
Characteristics of Offshore Company Setup Dubai
- * Minimize Taxes
- * Confidentiality
- * Reduced Administration
- * Asset Protection
- * Low Maintenance Cost