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Open offshore company

Open offshore company in Dubai, UAE

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Page content

  1. Dubai, UAE - offshore company formation
  2. Key reasons for offshore company formation in Dubai, the UAE
  3. Key facts on the Dubai offshore company in the UAE
  4. Legislation on incorporation and business operations of Dubai offshore companies
  5. Practical examples on how to use the Dubai offshore company in the UAE
  6. Top eight Dubai offshore company advantages and reasons for formation
  7. Formation procedure of the offshore company Dubai, the UAE
  8. Offshore company registration in Dubai, UAE by Individual Shareholders
  9. Registration of offshore company in Dubai, UAE by Corporate Shareholders
  10. Incorporation procedure - Company name the offshore company in the UAE
  11. Taxes on income of the offshore company registered in the UAE
  12. Prices for registration and renewal of the offshore company in the UAE
  13. Offshore company incorporation in Dubai is complete - time for the UAE Bank
  14. Most common questions on Dubai, the UAE offshore company formation
  15. Offshore company formation in Dubai, UAE - Send Request

Dubai, UAE - offshore company formation

Our team is located in Dubai and provides the full service on formation and administration of all types of companies in the UAE. We are the registered agents of offshore companies thus the formation costs we provide are one of the best on the market. Below is the comprehensive overview on all aspects of the UAE offshore company formation in Dubai, UAE. To open offshore company in Dubai please send us your request and we get back to you with all your queries answered and your UAE company being registered in the shortest time.

UAE offshore company incorporation in Dubai provides the solution to run your internationals business in the most efficient mode. Offshore companies are fully exempt from taxation in the UAE, can all be completely foreign owned and are permitted to open bank accounts inside the country as well as abroad. These IBC (now - ICC) companies are attractive for its prices, can be registered very fast – just in a couple of days – and are highly practical for numerous types of business as well as for holding of different assets in the UAE and internationally.

UAE offshore company in Dubai can exercise practically any business whereby such business must be outside of the country. The UAE offshore firm cannot do any business in the United Arab Emirates except holding a bank account and have communication with the local registered agent for the purposes of IBC / ICC company administration. This legal entity cannot import any goods into the UAE market; it cannot lease office or other commercial premises or apply for residency visas for its shareholders and directors. Thus this type of legal entity is different from onshore companies in the United Arab Emirates free trade zones and has the much lower price that the onshore company.

For this reason, the UAE offshore company in RAKICC (Ras Al Khaimah Corporate Center) or JAFZA (Jebel Ali Free Zone) shall not be confused with UAE Free Zone onshore company – it is the entirely different type of legal entity governed by different corporate legislation. The offshore firm is the legal entity that is registered for the purposes of operations outside of the country and cannot be transformed into the UAE onshore company.

Key reasons for offshore company formation in Dubai, the UAE

There are a number of reasons why to register this particular type of Dubai offshore company. Apart from the general advantages of being the tax-free corporate entity and its low price incorporation of this firm differs from available alternatives in such countries as, for example, Gibraltar, Singapore, Belize or Panama. What is the difference?

  • An immense number of visitors travels to the UAE on the yearly basis for business and holidays. It means your visit to the country does not attract any unnecessary attention. Moreover, apart from just visiting a county for company registration and account opening, you can always meet potential business partners or see a number of wonderful places. Thus each trip to the UAE can be very useful and enjoyable;
  • UAE offers the great choice of banks where UAE offshore IBC / ICC companies can open its account which is another highly valuable and important point to be considered. For this reason, each type of business can choose a bank in Dubai which fits its requirements at best.
  • Practically everyone in the UAE speaks English and all the documents – corporate, banking, etc. – are available in English. This is the very valuable point as there is no requirement to translate any documents or difficulties to understand the verbal and written communication;
  • UAE economy has the great future development prospective. Means the county keeps its development which safeguards banking stability and steady and strong legislation along with the great international country image;
  • United Arab Emirates provides various types of companies, and the UAE offshore companies do not attach as much attention as, for example, Seychelles or Panama which are regularly directly associated with the offshore business;
  • The Dubai IBC / ICC incorporation is very fast, the related costs are not high, and the further administration and renewals are done without any difficulties as all these points are completed by the company’s registered agent.

Key facts on the Dubai offshore company in the UAE

UAE Offshore company incorporation provides a number of features and benefits. Below we have combined the wide-ranging list on facts on this company type.

  • Complete UAE tax and duty exemption on all types of income;
  • Time for Dubai company registration – express registration - 2 days;
  • Price for IBC / ICC firm registration and renewal is highly attractive;
  • The least number of shareholders and directors is one;
  • Corporate shareholders from UAE and abroad are permitted;
  • One hundred percent foreign ownership is allowed;
  • Company director does not have to be the UAE resident;
  • The offshore companies registry is not accessible by public;
  • The share capital of the company can be any amount in any currency;
  • There is no obligation to deposit share capital in a bank;
  • The licensed registered agent is required and must be appointed;
  • The offshore company registered address is to be located in the UAE;
  • Dubai corporate address is provided by the offshore legal entity registered agent;
  • Audited financials for IBC are not required whereby financial records are to be kept;
  • Opening company bank account in a bank in Dubai, the UAE is permitted.

Legislation on incorporation and business operations of Dubai offshore companies

The UAE offshore companies regulations and other useful info please visit the RAK International Corporate Centre (RAKICC)

Practical examples on how to use the Dubai offshore company in the UAE

  • One of the highly popular solutions is the use of the UAE offshore company for various international businesses. This tax-free IBC (now - ICC) firm, in combination with the UAE bank account, perfectly meets such requirement;
  • Getting the effective gateway for expansion into international markets – some countries can have certain limitations for international business, therefore, the registration of the UAE offshore company secures perfect and price- efficient access to the global gateway;
  • For access to international financial markets – the company can open its accounts in the United Arab Emirates and globally for the further effective management of its funds;
  • For keeping private funds and investments – this legal entity is also the great vehicle for safeguarding various assets such as money on accounts, shares, properties, etc;
  • As the corporate shareholder – whenever you need to put a legal entity instead of your name as the shareholder in other companies in the UAE and abroad the Dubai, UAE offshore company is the perfect solution;
  • Resolving the matter of confidentiality – for all the cases when the additional level of protection and confidentiality is required, the offshore IBC / ICC in the UAE is the solution whereby its price is mush better that any solution over trusts;
  • Holding various intellectual property rights – when there is the objective to register certain rights the Dubai legal entity in the UAE is the best as it is cost-efficient, fast to register and easy to administer;
  • For the great number of other purposes – if you have some other objectives and do not know if you can achieve such over the offshore company in the UAE – send us your request, and we provide you all the info.

Top eight Dubai offshore company advantages and reasons for formation

There is the great number of advantages and reasons to register the UAE offshore company.

Below we provide top eight advantages:

  • No taxation in the UAE;
  • Can be registered just in 2 days;
  • Full foreign ownership;
  • Corporate bank account in the country;
  • No audit reports;
  • IBC Companies registry is not public;
  • Clear and stable corporation law;
  • Low price for ICC registration;

Formation procedure of the offshore company Dubai, the UAE

In general, the entire registration procedure when supported by the qualified registered agent is fast and non-complicated. Depending on the type of shareholders – individual or corporate - the required documents for registration are correspondingly different. The registration price of registration by corporate and individual shareholders is same, however, in case of corporate shareholders, there would be additional costs for preparing documents of the corporate shareholder.

Offshore company registration in Dubai, UAE by Individual Shareholders

The following documents are to be provided by individual shareholders:

  • Copy of passport - original to be provided at the time of account opening in the UAE;
  • Proof of residential address– in the form of a utility bill from home country;
  • Professional background – short CV with the available business experience;
  • Letter from a bank in the form of a reference letter – sample can be provided;
  • IBC (now - ICC) company name - if necessary – we provide assistance in choosing company name.

Registration of offshore company in Dubai, UAE by Corporate Shareholders

In the event of corporate shareholders of the UAE offshore company the following documents, apart from the documents on the beneficiaries of the corporate entity, are to be provided:

  • Complete set of incorporation IBC / ICC documents - memorandum, incorporation certificate, etc;
  • Certificate of good standing – with the latest date;
  • Resolution to become the shareholder in the UAE offshore company;
  • Documents on corporate shareholder directors;
  • Reference letter from a bank along with the bank statement.

Incorporation procedure - Company name the offshore company in the UAE

Ideally, the name of the Dubai offshore company shall reflect the corporate activities whereby, when choosing a name, there are very few restrictions means the UAE firm can have nearly any name. The restrictions include the following points: it is not permitted to use the words: banking, insurance, reinsurance and similar. It cannot use the names of the cities of the United Arab Emirates as well as the UAE itself, and the name shall not be associated with any type of government entity of the UAE. Moreover, the offshore company name cannot be the same as of a firm which is already opened and available in the companies’ registry. At the end of the name, the IBC / ICC company shall have abbreviation ‘Limited” or “Ltd”.

In the instance when you wish a certain business name, however, the registration of a legal entity would take place a bit later, there is the option to reserve its name in the registry by making the respective application over us as the registered agent and paying the respective price/fee for company name reservation.

Taxes on income of the offshore company registered in the UAE

As was mentioned beforehand, the UAE offshore company enjoys the tax-free regime means any type of income of this legal entity is free from any taxes in the UAE. All types of business income, corporate gains, income from sales, dividends, etc. – are tax-free in Dubai.

The zero-tax regime and best price of registration and renewal are the very important element why international business persons choose the IBC offshore company of this type.

Regarding VAT – it is also not subject to the UAE VAT as all its activities are outside of the UAE and the VAT tax applies only when gods are sold, and services are provided inside the country’s territory.

Prices for registration and renewal of the offshore company in the UAE

The Dubai offshore company in the UAE is the effective and low-cost tool for doing the international business which you can register with the help of our office in Dubai. Being the registered agents for offshore companies in the United Arab Emirates we have our office in Dubai and guarantee the best incorporation costs/pricing for the UAE offshore companies, our prices are highly compatible and one of the best on the UAE market.

The complete price for Dubai company incorporation is USD 2.200,- and includes the entire set of registration documents.

The yearly renewal price of the offshore international business company is USD 1.750,-. Well before the renewal date, we inform our clients on the approaching date of the IBC (now - ICC) company expiry, and upon client, confirmation proceeds with all the steps on the renewal.

Offshore company incorporation in Dubai is complete - time for the UAE Bank

No business can function without reliable and convenient bank account facilities. When considering other offshore jurisdictions such an as, for example, Seychelles or Panama, you would need to search for the option for account opening in some other country which is difficult and time- consuming task. Moreover, nowadays, in the even if Dubai IBC is registered in one country and has its account another country, such company attracts more attention by various regulatory authorities as such combination is quite typical indication to offshore solutions. In case of the UAE company registered as the offshore one – it can open its bank account in the UAE.

The banking in the UAE is highly reliable and provides the great level of service thus the UAE offshore company with the bank account in one of the banks in Dubai is absolutely great and very efficient solution. All banks offer internet banking which you can apply for within account opening and then easily access your account over the internet. The prices for bank services in Dubai are also very reasonable.

To open an account certain documents are to be provided. Practically these are the same documents which are provided for registering the ICC (former IBC) UAE offshore company plus there may be some additional documents required – the bank request for such document is based on the case to case basis.

Most common questions on Dubai, the UAE offshore company formation

How long it takes to register such offshore company?

The express registration takes 2 working days only. The price for express registration is slightly higher that the regular one. The regular registration takes 4 to 5 business days.

Do I need to visit UAE for registration of the UAE offshore company?

No, the Dubai IBC registration can be done without visiting the United Arab Emirates, However, for the bank account, the visit is required. For this reason, it makes it easier to come to UAE for company incorporation AND account opening. The time required to stay in the UAE – 1 day only.

Can I get residency visa over registration of the UAE offshore company?

No, this type of company does not provide this option. If you need residency status in the UAE – there is another type of UAE companies which give this option.

Difference between the offshore and onshore companies in the UAE

 

Offshore company

Onshore company

Corporate Taxes

No taxes

No taxes

VAT

Not Applicable

Applicable

Audit Report

Not Required

Required

Bank account in Dubai

Yes

Yes

Time to register

2 days

From 2 weeks

Permitted activities

All types of actives, outside of the UAE

Activities within the license, inside and outside of the UAE

Obtaining Residency visas

No

Yes

Costs

Low cost in registration and maintenance

Higher registration and yearly costs

What is the point of having a registered agent?

Every Dubai offshore company must have its registered agent. Such agents are specially licensed companies in UAE and registration, and administration of all offshore companies in the UAE is done only over such agents. Such agents act as the authorized representatives of the companies’ registry. Our company has the status of the registered agent, and our prices are one of the best on the market.

To obtain any other information, or to visit our office to get all the data in person and to start registration of your ICC company in the UAE please feel free to contact us.

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Feedbacks from our customers:

“ I’m really pleased that I had chosen to work with your company. The whole incorporation procedure was organized highly efficiently and fast. Glad that I had experience working with such professional team and would definitely keep working with you.”

Yacine C. / Area of business: International IT and Software Consultancy.


Offshore in Dubai Media City

“ I was very cautious when choosing a consulting company to work with in UAE as this region is totally new to me. I’m glad that I have chosen your company. All information was provided in the clear way and the work was completed in time and with high level of personal involvement of the manager from your company who was in charge of my case.““ I was very cautious when choosing a consulting company to work with in UAE as this region is totally new to me. I’m glad that I have chosen your company. All information was provided in the clear way and the work was completed in time and with high level of personal involvement of the manager from your company who was in charge of my case.“

Ismael B. / Area of business: Alternative Energy.


Offshore company in Dubai

“Many thanks for your work and assistance. I received the excellent services even in the areas which I did not expect to receive such. When I have some problems with activation of internet banking your manager did a great work with patience, but I understand, the problems with internet banking activation, I did by my own mistake.“

Manoj T. / Area of business: Commodity Trading.


Offshore company in Dubai

“Highly satisfied with the quality of services and attention to every detail. Would definitely recommend your company to my friends and business partner.“

Sergei S. / Area of business: Trading with Specialized Industrial Equipment.


Offshore company in Dubai

“The work was completed to perfection, in the projected time schedule and keeping us on constantly updated on the progress. Receiving all the approvals was quite a challenging task and the company did the great job.“

Alexander G. / Area of business: International Travel Company.


Offshore company in Dubai

“Could not resolve one of the matters within the UAE company incorporation over 2 other consulting companies in UAE. As soon as I referred to your company the matter which was pending for more than 2 month was resolved in 1 week. Many thanks!“

Rafael K. / Area of business: International Row Cotton Trading


Offshore company in Dubai

“Pleased to work with your company on the regular basis as and I`m highly satisfied as the professional intermediary with the fast and clear answers, prompt execution of works and highly competitive prices your company provides to our company.“

Alexandre V. / Area of business: Consulting and Tax Advisory Company


Offshore company in Dubai