Dubai is a famous international business city, so most investors choose to establish offshore companies in the UAE. It can be a great option for entrepreneurs with various benefits, including easy company formation and tax advantages.
Setting up an offshore company is among the few opportunities for company formation in Dubai. Here is a complete guide to starting an offshore company.
What Is an Offshore Company?
An offshore company or International Business Company ‘ IBC’ UAE registered entity is allowed to operate and do business only outside the country. The company has the right to hold shares and Real Estate in UAE. Offshore company formation in Dubai has many advantages, but most people choose the IBC to operate as a holding company.
Why Set Up an Offshore Company In UAE?
- The process of Registration of an offshore company is simple and the entire process can be done within 48H.
- The company has the right to hold a local multi-currency account.
- Zero Corporate taxes on profits and custom duty
- Easy access to global funding
- A great opportunity to extend internationally.
Steps To Start an Offshore Company in the UAE
Choose A Company Name
The company name must adhere to the UAE business naming rules.
Fill out An Application Form
After choosing your company name, fill out the application form and submit it along with the following documents:
- Address proof of shareholders and director
- A business plan and description of the Business activity.
- Bank statements
- Copies of shareholders’ and director’s passports
- CV of the shareholders and directors
Note that the document submission may vary based on individuals and business activities. The documents should be submitted to the authorities for review.
Draft MOA and AOA
Drafting of the Memorandum of Association (MOA) and the Articles of Association (AOA). The documents should be prepared in the English language.
Open Your Bank Account
Finally, open an offshore bank account to ease business transactions.
This guide will help you as you plan to start an offshore company formation in Dubai. However, the process can be complicated, especially if you need help understanding the country’s legal regulations. Most entrepreneurs worldwide prefer seeking guidance from a business formation consultancy with proven experience in the industry.
At FreeZoneMarket, we help in all steps of starting an offshore company in Dubai. Our business experts take pride in providing tailored business services to all companies. Contact us today if you plan to set up an offshore company in the UAE.