Imagine yourself being the owner of a business entity in one of the fastest-growing cities of the world-Dubai! Sounds exciting, right?
Well, it is a well-known fact that Dubai has been one of the top tourist destinations in the world. Known for outstanding human-engraved monuments and sight-seeing destinations, Dubai opens its arms to the global business investors.
Most of the global business investors prefer to start a business in Dubai as the ground provides a favorable business climate and is free from personal-tax.
One of the secrets that uplift Dubai is continuous innovation and fetching out multiple routes for investment. One such direction is the offshore industry, which has been widely accepted by the other nations to build a favorable climate for high-net-worth-individuals and business tycoons.
Today, the world has numerous offshore jurisdictions, which are also referred to as tax-haven jurisdiction. Here’s a list of the popular offshore jurisdictions, and Dubai Offshore (JAFZA) is one ground you can rely on to start an offshore business.
Now, before investing in the offshore business, it would turn out to be better if you can have an understanding of the mechanism that goes behind operating one. Here’s a guide on How Does an Offshore Company Work, which will help you to understand the process clearly.
Dubai has been standing as one of the popular offshore jurisdictions that grabs the attention of the global business investors. Starting a company in Dubai Offshore requires the applicant (business owner) to submit the following essentials to the Registry:
- Name of the offshore entity, which must end with the word “Limited.”
- Address of the company
- The nature of the business to be conducted
- Amount of capital, the number of shareholders
- Name and details of the beneficiaries to be served as directors
- The memorandum and articles of association
Now, let’s have a look at the registration process of a Dubai Offshore Company.
How to Register a Dubai Offshore Company?
To proceed with the incorporation of Dubai Offshore Company, one has to go through the following process:
- Join Hands with a Certified Business Expert: Professionals like Business Setup Worldwide can help you to deal with the process in a hassle-free manner
- An Advisor Gets Assigned: Upon selecting your business partner, an advisor will be dedicatedly assigned to you, who will take care of the complete process, and will carry out the respective proceedings.
- Submit the Documents: Once the advisor has been assigned, you need to submit the essentials set of documents to proceed with the offshore company incorporation process
- Evaluation of the Documents: The documents submitted will be handed-over by the assigned advisor to the relevant authorities in Dubai for further inspection
- Issuance of the Certificate: Once verified, the Registry will issue the certificate of incorporation.
It is to be noted that Post-registration, the Registry will issue a Certificate of Incorporation along with the Offshore Company’s Registered Number.
Since a tax-haven jurisdiction provides numerous benefits to the business investors, let’s have a look at the benefits that Dubai provides on establishing an offshore company.
Benefits of Starting an Offshore Business in Dubai
Once you incorporate an offshore business in Dubai, you being the investor can avail the following benefits:
- Complete tax exemption
- High-end asset protection
- Ease of business operations
- A stable reputation
- High-end confidentiality
- Complete protection on the investments made
So, we have seen that Dubai serves to be a hot-bed for the offshore industry, and has been performing great over the years. Well, are you wondering how to start?
To perform the business processes effectively and efficiently, it is seen that most of the global investors prefer to proceed with the expert’s advice.
An error-free business foundation not only simplifies the further process but also builds a strong base, lessening the burden of the business investors or owners.
Certified business consultants can help you in numerous ways to build a strong foundation for your business. To understand it more clearly, have a look at our latest guide on Four Core Reasons to Hire an Offshore Business Consultant.
Business Setup Worldwide, one of the top business consultants in the UAE, has been helping numerous business clients to establish their business ground in different locations across the globe.
With industry experience and in-depth knowledge, our business advisors can assist you in incorporating your offshore business in the UAE by providing tailored solutions.
Feel free to contact us today-we’d be glad to assist.
What are the documents required for Dubai offshore company formation?
The documents needed for Dubai offshore company formation are,
Original Bank reference letter or six months bank statements
Proof of Address
CV of the shareholders
Passport copies of the shareholders
Three options for name reservation
How many days does it take to incorporate a business in Dubai offshore?
Starting a business in Dubai offshore takes around 2-3 working days.
What is the cost of starting a business in Dubai offshore?
The cost of starting a business in Dubai offshore begins from $5230.
What are the advantages of starting a Dubai offshore company?
The advantages of starting a Dubai offshore company are,
Nil or low corporate tax
World-class banking infrastructure