Offshore Company Formation
An offshore company is defined as a company that is incorporated in a jurisdiction that is other than where the beneficial owner resides. In other words an offshore company is simply a company that is incorporated in a country overseas in a foreign jurisdiction.
There may be many reasons to register an Offshore Company, but the general benefits of utilising an offshore corporate structure include:
- Providing a gateway for international market expansion;
- Access to a stable and business-friendly legal system;
- Access to a more flexible regulatory regime;
- Offering tax neutrality on international earnings in respect of (depending on jurisdiction) personal or company income, capital gains and inheritance taxes;
- Offering better access to global funding;
- Providing a vehicle to separate or protect assets, such as Intellectual Property, from operating entities.
Offshore Companies are permitted to open multi-currency accounts in the UAE and carry out business internationally. They may not, however, carry on business with persons resident in the UAE or have physical premises within the UAE.
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Documents Required
- Visa Page Copy
- Passport Copy
- Proof of residence – can be current utility bill (the original)
- NOC ( If, you are on another visa in UAE)
- CV for each Shareholder
- Reference Letter for each Shareholder
- Name of the offshore company (3-5 of your choice
Benefits
- Providing a gateway for international market expansion;
- Access to a stable and business-friendly legal system;
- Access to a more flexible regulatory regime;
- Offering tax neutrality on international earnings in respect of (depending on jurisdiction) personal or company income, capital gains and inheritance taxes;
- Offering better access to global funding;
- Providing a vehicle to separate or protect assets, such as Intellectual Property, from operating entities.
Why Offshore Company ?
Many entrepreneurs are already suffering from the fact that government taxes continue to rise without any efficient use of the funds from tax payments becoming apparent. No company should be punished for generating sales that, conversely, strengthen gross domestic product. Double taxation is also a well-known thorn in the private sector’s side. The income which has already been taxed, must be taxed again if it is used for private security and grows. Dubai Offshore offers you more than just a way out of the tax hamster wheel. Dubai Offshore supports you in establishing your company abroad in a stable manner and assists you in opening an offshore bank account so that you can start operating seamlessly. If you have a company in Dubai you will enjoy the best international reputation, since a business in Dubai is something completely legitimate without having the bitter taste of a tax haven.
Offshore Tax Benefits
The taxation systems are already well-known from other locations such as Germany. It is not uncommon for a double taxation to apply despite a double taxation ban. For example, you pay your already taxed income into a form of retirement plan – state-supported or private. As soon as you want to take advantage of this retirement arrangement, taxes will be due again. Unfortunately, this problem also translates to the corporate sector. With maximum tax rates and a multitude of legal gaps, your company will be penalized for doing well and making a higher contribution to the gross domestic product. The better you do, the more you will be taxed and penalized. The United Arab Emirates, on the other hand, levy neither corporate taxes nor sales or inheritance taxes. Property taxation and personal taxes are also eliminated. Only oil and gas producing companies and banks are subject to taxation.
Tax Exemptions
- Corporate tax 0%
- Income tax 0%
- VAT 0%
- Inheritance tax 0%
- Property tax 0%
