Why do you want to start an offshore company?
Many companies are interested in setting up a branch in Dubai. Setting up a branch or an offshore company is not a difficult task. If you are not able to take initiatives on this regard then it is better to get assistance of an offshore business consultant. These consultants are able to help you in registering a company in UAE and running it in with the resources you want. Many consultants are offering the services in various packages. Check the packages offered by each consultant before choosing one. In each package the consultants are offering different types of services. Comparison of services offered by each in the offshore company formation package helps in choosing the best one.
Let us check the benefits one can enjoy by starting an offshore company set up in Dubai.
You can start an offshore company in a tax free mode. In other countries you have to pay tax for each and every procedure related with a company formation. But in Dubai you are able to enjoy tax free services.
In the offshore company formation procedure you don’t have to find a local UAE partner for your company. That means you get complete ownership on your business. Generally a foreigner can start a new business in the country only by sharing 51% of the ownership with a local resident. In the case of starting an offshore business you don’t have to share your ownership.
Normally the directors and shareholders have to give details and sign on the public register to start a business. But for offshore business there is no public register for directors and shareholders.
An offshore company can have offshore bank accounts. Then the banking transactions can be done in a secure and confidential manner. This allows a company to proceed with banking transactions in a safe manner.
Number of shareholders required for starting a company is very low. One should check with a business consultant about the formalities related to shareholder registration. You can start an offshore company even with a minimum of one shareholder. Number of directors required is only two.
An offshore company can decide about the working capital that is required to starting a company. There isn’t any specification regarding the upper limit and lower limit of the working capital. The owner of the company can decide how much they have to invest for starting an offshore company in Dubai.
Again, legal legislation protects the confidentiality of the investors. By forming an offshore company you don’t have to pay corporate tax, personal tax, and capital gains tax or value added tax. As tax is a big subject, here you don’t have to worry anything about it. Again, while fixing a name for the company you should put limited or LTD as suffix. Then, no need to file annual reports or accounts and there is no need to fix meetings in Dubai. All these benefits together help you in building a business empire in Dubai.
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