How to Start an Offshore Company in UAE?

How to Start an Offshore Company in UAE ?

An Overview The term “Offshore” showcases the scenario where people set up businesses with an intent to avail of tax-exemption benefits. Tax benefits have always attracted investors.

The United Arab Emirates (UAE) is one of the best destinations to set up your dream business. Well, UAE is a popular offshore jurisdiction. In fact, the entrepreneurs and business owners have always been focusing on the UAE to take their business globally.

Wondering, why?

Let’s dive straight into some advantages of offshore company formation in the UAE: ● 100% foreign ownership ● No taxes and customs duty ● Full repatriation of profits ● A speedier incorporation process ● Protected assets ● Lawsuit Protection Undeniably, there are so many benefits of starting an offshore company in the UAE but you need to undergo a certain set of processes.

Procedure For Offshore Company Formation in UAE: (i) Select a Company Name

(ii) Fill an Application

(iii)

(iv)

Draft the MOA and AOA

Open an Offshore Bank Account

Select a Company Name Make sure that the name of your company is verified with the Registrar.

Also, try not to include words like building society, insurance, cooperative, bank, trust, chartered, fund, Emirate, mutual fund, Chamber of Commerce, and more.

Also, your company should be ended with Ltd. Or Incorporated.

Fill an Application Fill up the application form with relevant documents including identity proof, address proof, well-crafted business plan, attach copies of shareholders and directors.

Draft the MOA and AOA The Memorandum of Association (MOA) and the Articles of Association (AOA) are reviewed by the authority to start your company.

Open an Offshore Bank Account After this, the final move is to proceed with business transactions.

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