6 Benefits of setting up an offshore company

If you are an entrepreneur and you are thinking of setting up an offshore company formation in Dubai, then I believe that you have taken a right decision indeed. Establishing a company offshore might be an elaborate process, but there are several benefits that an offshore company incorporation has on offer for you. From minimisation of taxes to better confidentiality – an offshore company can be a safe bet for such reason and many more.

Here are the six key benefits of forming an offshore startup.

ü  Optimization of taxes

The first and foremost benefit than an offshore company can offer you is the lowered and minimised tax obligations of your business in Dubai or any other place in the Emirates. Since non-resident companies enjoy an exemption from taxes and have to pay low percentages of taxes, an offshore company can help you optimise the tax cost of your company. Make sure you hire an agent who is a local of Dubai as he or she will be able to guide you in the best way when it comes to matters of corporate taxation.

ü  Confidentiality

Since most offshore companies are not required to publish their financial information or the details of directors and shareholders publicly, this will help you maintain the privacy of your company. In Dubai, you will never be asked to reveal your financial information to any third party unless your business activities are considered criminally offensive.

ü  Low administration costs

Since the legal obligations of an offshore company are lesser than other kinds of establishments in Dubai, you will not need any extra staff for accounting, or other administration activities. This will help you save a considerable amount of money on other staff thus making it more cost-effective for you and your budget.

ü  Lower set up and maintenance costs

Since the procedure of setting up an offshore company is considerably easier and more straightforward, the expenses that you have to spend in the process of offshore company incorporation in Dubai is lower. Since as an entrepreneur budget is a big problem, this is the best option to save money by spending less on establishment and maintenance costs.

ü  Lower capital requirement

In Dubai, registering an offshore company will require minimal capital, usually less than what is needed for an onshore registration. In many other parts of the Emirates, there is no margin for money required for registration. This makes offshore company incorporation a profitable option indeed.

When you think of a new business setup in Dubai, an offshore company is the best option as it is flexible regarding the structure of the company and its capital requirements, etc. So what are you still waiting for? Go and start your offshore enterprise today!