What is the Procedure for Offshore Company Formation in Dubai? Dubai offshore company formation is one of the most popular business formations among investors in the UAE. Establishing an offshore company in Dubai is a tax-efficient and cost-effective business entity to conduct international trade. Since the rise of offshore company formation in Dubai, the UAE has become an ideal hub for businesses from all over the world for entrepreneurs and investors. An offshore company in Dubai is a business establishment registered in Dubai but is permitted to establish its headquarters and operations in offshore locations located outside of Dubai. An investor can form a Dubai offshore company in any of the following business entity types:
Limited Liability Companies Limited Companies Limited Partnerships
An offshore company is also referred to as a non-resident company that allows foreign investors to conduct international trade without any legal or administrative obligations. An offshore company in Dubai is simply a wholly-owned LLC that is legally tax-exempt and does not have any annual accounting or tax obligations. Furthermore, business investors have the freedom to conduct international transactions through an offshore bank account. Offshore companies in the UAE are also allowed to open multi-currency accounts to carry out international transactions without any currency restrictions. The procedure of Offshore Company Formation in Dubai Ras Al Khaimah (RAK) and the Jebel Ali Free Zone are the two main jurisdictions in the UAE that allow the formation of offshore companies (JAFZA). The process of forming an offshore company is very simple, and it can often be incorporated within a few weeks. The following are the steps you must take to register your offshore company in Dubai. Pick a Trade Name The first step is to choose a relevant and appropriate trading name for your offshore company, which will reflect the corporate activities. There are a few restrictions to follow when selecting a company name in the UAE, such as: Continue Reading...