Offshore Company Formation in Dubai
One of the most popular business structures is the offshore company formation in Dubai due to its accessibility and benefits offered by the UAE government. The ease of registration makes the offshore company formation a perfect fit for investors and SMEs.
By definition, an offshore company is a foreign corporation with foreign investment to set up business companies that pay no or very little tax.
What Is An Offshore Company?
A legal business entity formed to operate outside of the location of its permanent possession is known as an offshore company.
Limited liability corporations, limited liability companies, and limited partnerships are all options for forming an offshore company in Dubai. Unlike onshore and free zone companies, one cannot obtain a UAE residency visa through offshore companies, neither can lease office space.
Benefits of Offshore Company Formation in Dubai
- No physical location or office is needed for an offshore company in Dubai, UAE
- Complete ownership of the business
- Total confidentiality for overseas investors who want to keep their business transactions and offshore banking within the UAE and outside private
- Flexibility of setting up an offshore company even if the investor is not staying in the UAE
- No corporate income tax for offshore corporations
- International business transactions and multi-currency bank accounts with guaranteed money security.
Required Documents to Start an Offshore Company
There are certain documents required to start an offshore company in Dubai, including:
- Filing in the form of offshore company formation in Dubai
- Submitting a business strategy and plan (three years)
- Handing original bank reference letters and six months of the monthly statement
- Sharing a verification of address in home town
- Sharing the stockholders’ curriculum vitae
- Submitting passport copies of each shareholder
- Suggesting three choices and options for the company name
- Sharing details and specifications of the business activity
Moreover, the process of offshore company formation in Dubai is also known as a non-resident corporation. Hence, it can be a tedious process if you take it by yourself, and it can be delayed if you unintentionally make the smallest mistake.
Yet, with Novelty, you can save time and effort by relying on us to walk you through the business setup process from start to finish.
We will help you in offshore company formation in Dubai and also in producing the application documents and information necessary for a seamless formation. Don’t hesitate to contact us to pave your way toward success.