To date, offshore companies have been one of the most well-known and effective methods of tax planning, which allows you to simultaneously work in different countries, reduce financial risks and operate in a favorable exchange rate environment without significant restrictions on the movement of capital. Literally, the word “offshore” means “beyond anything”, and in this context means a legal form of organization that is outside the jurisdiction of the country, which has no office in its territory nor it is engaged in business activities in the country. Typically, an offshore company is organized for the purpose of investment, acquisition of equity of third party organizations, financing, registration of patents, purchase of real estate and yachts, tax planning (both personal and corporate).
Amidst the variety of offshore zones, the one of the United Arab Emirates stands out for its impeccable reputation. Thanks to the transparency of the processes of registration and operation, offshore companies in UAE do not raise any concerns of fiscal authorities and international banks.
Benefits of opening an offshore company include:
- 100% foreign ownership.
- 100% exemption from taxes / duties.
- Freedom of capital export.
- No limits on minimum size of capital.
- No requirements of mandatory annual audit reports.
- Corporate bank account in a UAE bank.
- Anonymity and confidentiality of business operations.
- Simple process of registration
It should be noted that this legal form is not suitable if you are planning to engage in business activity, rent an office and obtain residence visa in the UAE. Our consultants will advise you on feasibility of opening of an offshore company in your particular case. We will also support you in the process of preparing the documents for the opening of the company, going through all the formalities with the registration authorities as well as opening of a bank account with a bank in the UAE.