The city of Dubai is the best platform for foreign investors to get maximum profit through their offshore business. More than 30 offshore companies are working in Dubai and the majority of them have expanded their franchises all over UAE within a few years.
The Offshore business setup in Dubai has increased since the UAE government introduced tax benefits and eliminated heavy limitations for starters. Some factors support the idea of starting an offshore company formation in Dubai and it can open new paths for your enterprise.
Why Offshore Business Setup in Dubai is Great for You
Some valuable lands in Dubai are perfect for an offshore Business Setup in Dubai. Those Free Zones are Emirates JAFZA (Jebel Ali Free Zone Authority), Ajman Free Zone, DMCC (Dubai Multi Commodity Centre), and RAK (Ras Al Khaimah Free Trade Zone). These mentioned districts have some amazing features that can benefit any foreign investor who wants to become a part of the Dubai commercial market.
The benefits for offshore company formation in Dubai are:
- 100% foreign ownership permission by UAE government for fresh business setup.
- No customs duties or taxes are required to pay the Dubai government.
- You can register your company with one shareholder and manager.
- Full return on profit and you can use any currency for the company’s capital.
- Fewer barriers to creating an offshore bank account in Dubai.
- The privacy of your offshore company’s business actions will be protected.
- The cost for business setup Dubai free zone is slightly less compared to Mainland land.
The major benefit for Offshore companies in Dubai is the freedom to do any legal business activity which includes financial, forex, educational, medical, and insurance activities. The one question which numerous entrepreneurs ask how to setup Offshore business in Dubai Free Zone?
The answer to this question is explained below.
How to get registered for offshore business setup in Dubai
The offshore company formation in Dubai involves some fundamental steps that can easily be completed by an individual or corporate applicant.
- Decide your company name
The company name for offshore business setup Dubai must not include any word related to registered bank, society, commercial society, political party, UAE government department, and Emirates. Any religious blasphemy is strictly prohibited for selecting a company name. The name of your company must include Limited (LTD) and Incorporated.
You will be asked by government bureaus to send three unique names for offshore companies in Dubai with the registration application. It is advisable to hire professional business consultants who can help you to find a valid name for your company.
2. Collect documents for approval
There are some permits and credentials which are mandatory to assemble with the registration application form. The relevant documents involve:
- Complete address of company director and shareholders.
- Well-organized business plan for offshore company in Dubai.
- Attested credentials of company owner and shareholder.
- Passport size photos of an individual owner or shareholders and directors.
- Complete detail about the business type and past business experience.
All of the mentioned paperwork must be attached with the online application form and soft copies where required must be delivered on time.
3. Prepare MOA (Memorandum of Association)
The Memorandum of Association is the final crucial task for an individual or company to prepare for the offshore business setup in Dubai Free Zone. The MOA must be translated into English language and after reviewed by the Dubai administration you will get approval to start your very own offshore company in UAE.
4. Create an Offshore bank account
A bank account is necessary to get registered with Dubai Chamber and you will be provided full authority to do legal business practices in Free Zone. The business consultants are the best option to contact for the formation of a corporate bank account and they will help you by providing experts who can fill your paperwork without any errors.
Documents for Offshore Business Setup in Dubai
The offshore company formation in Dubai demands some credentials to deliver online or with the collaboration of business consultants.
- Personnel profile details of the applicant.
- The proof of residence can be any bill or license number.
- Soft copy of applicant’s passport.
- The stamped approval from the power of attorney for your business registration application form.
- Passport size colored phots.
- Corporate bank’s reference letter with an authentic stamp.
- Approved corporate certificate of company registration signed by UAE embassy.
- License attested with the attached copy of dues paid for an offshore company.
- Signed and stamped board resolution to represent your company as a legal offshore firm.
- Complete list of hierarchy of beneficiaries.
KWSME can help you with Offshore Business Setup Dubai
KWSME is a professional consultancy agency in Dubai that provides a wide range of business activities in Dubai. They can help you with a quick and secure online registration process for offshore business setup in Dubai with affordable packages. Feel free to connect with the finest business consultants in Dubai by visiting kwsme.com and enjoy your new offshore venture in Dubai Free Zone.