Features of Offshore Company in the UAE

Offshore company formation in UAE is a very lucrative option for any entrepreneur. But, before one take any action it is important to learn about the nit and grits of this company. This will obviously make the process of the offshore company formation UAE much easier for any person and also helps in avoiding any risk which may occur due to ignorance. As we all know, many steps are there which needs to be taken care of for a company formation UAE. Thus, it becomes more important to know about the regulations and other aspects to ensure all these steps are carried out effectively.

Below are some of the features of this type of company:

·         The UAE law states that it is necessary to hire a registered agent who can represent the enterprise before the government. This agent must come from the list of these agents who have been approved by the government.

·         By starting an offshore company, the permission for opening a corporate account in any Dubai bank can be received

·         There must be a minimum of a single shareholder and one director

·         Offshore companies in the UAE enjoys full exemption from tax and duty

·         It also allows for complete foreign ownership

·         Operating licences are not issued to the offshore companies in the UAE, instead, they are provided with just an incorporation certificate

·         With this company, business owners can keep their business completely secret

·         The owner of the offshore business can keep the whole of the profit

·         It is also possible for an entrepreneur to own the company solely

·         In special cases only, the  offshore company may be asked for submitting audited financials

·         No restriction is there on the amount of money or the capital for opening an offshore company

·         The registrar verifies the important documents which are needed for the incorporation of this company

·         The process of registration for this type of company in the UAE is very short. It may take up to only three to seven days

·         The shareholder also gets the authorisation to run the business

It is always advised for those who wish to start an offshore company in the UAE to get adequate knowledge on the process to the legislations from the business consultants. This will obviously be beneficial for preparing the documents, as well as, for the whole process.