What is an Offshore Company?
An offshore corporation is a firm founded to conduct operations outside of its registered jurisdiction or ownership location. An offshore business can be founded if it is not located in a free zone and is separate from the UAE mainland. Offshore firms are generally exempt from the requirement to lease physical office space; however, this means that they are not permitted to engage in large business operations within their home nation when establishing an offshore business.
Individuals or organizations may establish and own offshore businesses, and shares may be freely and readily transferred through a written agreement. One area of newly established businesses in Dubai that is expanding quickly is the development of offshore companies. It is usually designed with measures to reduce or eliminate taxes related to capital gains, death duties, value-added tax (VAT), sales of real estate, and income from business earnings.
Benefits of Offshore Company Setup in Dubai, UAE
- A UAE offshore company registration offers a number of advantages for businesses, such as
- It offers stable and business-friendly legal system.
- It maintain confidentiality in the business dealings.
- The regulatory regime is flexible.
- Tax neutrality is one of the attractive features.
- Separation and protection of assets is a key feature.
- It is the gateway to international markets.
- The access to global funding.
- Incorporation of offshore companies is relatively easy, quick, and simplified.
- Full repatriation of funds and it allows multi-currency transactions.
- No minimum share capital is required.
- The shares are conveniently transferable.
- The operational cost is reduced.
- Multi-Currency Bank Account can be open.
Activities Permitted
- International trade
- Brokerage activities
- Intellectual Property rights holding
- Property holding in Ajman
- Online advertising activities
- Consultancy
- Registration of ships
- Trading in stock markets
Activities Not Permitted
- Financial
- Insurance and re-insurance
- Media
- Aviation
- Conduct business with onshore companies in the UAE
- Establishing a branch in the UAE
Documents Required To Set Up an Offshore Coproration
Other Documents include the following:
Individual Applicant:
- 1. CV/Resume of the applicant.
- 2. Applicant’s Passport Copy.
- 3. Reference letter from Bank.
- 4. Proof of Residence (any document such as utility bills that verifies the address of the applicant).
- 5. Passport copy of nominated Director.
- 6. A notarized Power of Attorney duly attested by UAE Embassy/Consulate in favor of ADAM Global to pursue the incorporation procedure on behalf of the applicant.
Corporate Applicant:
- 1. Company’s Registration Certificate.
- 2. Certificate of good standing.
- 3. Applicant Company’s Memorandum & Articles of Association.
- 4. Board Resolution for offshore company establishment, director’s appointment and legally permitting ADAM Global as a legal representative of the company.
- 5. Reference letter from Bank.
UAE's Offshore Company Setup Process
How to start or register your Offshore Company in the UAE.
At ADAM Global, we guide you through each step of your business journey. Although the process is quite detailed, below is an 8-step process highlighting the essential incorporation procedure for your offshore company formation in the UAE with our highly experienced staff. The process, if all documents are complete, usually takes less than 1 week and depends on the offshore jurisdiction your ADAM Global advises.
- Consult and ADAM Advisor to select the right offshore
- Submit all documents
- We file an application
- We get approval for company name & activity.
- Signature on the incorporation documents.
- Submission to Registrar of relevant authority.
- You will be notified when your company is approved.
- Open Corporate Bank Account.
Our services encompass all aspects of offshore company formation, including legal documentation, bank account setup, and provision of directors, secretaries, and nominee shareholders as necessary. We handle interactions with regulatory bodies on your behalf and guide you through each step, from name selection to due diligence and reference letter arrangements. Notably, physical presence is often unnecessary for establishing your offshore entity. While UAE offshore companies enjoy flexibility in operational requirements like office leasing and staffing, our firm can facilitate all necessary communications and operations through our registered and accredited services. Additionally, we extend auxiliary support covering essential business functions such as accounting, audit, payroll, taxation, and outsourced CFO and PRO services, ensuring comprehensive assistance throughout your business journey.
Call us today to learn about the possibilities for launching your business
Partner with ADAM Global—the trusted leader in offshore company formation services in Dubai and the UAE. Contact us today to setup your dream business and gain a competitive edge in the marketplace.
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