Each business entrepreneurs wants the most cost-effective and supportive business environment. The investors are always looking forward to investing their money in a place where they can get most profits. Judging from various positive perspectives, Dubai is the perfect place for offshore businesses startups. The increased dominant hub of technology is the key to make Dubai the thriving business hub of Middle Eastern.
Dubai is the best possible choice for offshore company formation because of its very crowded and bustling nature. It has so many opportunities for entrepreneurs to do business all around the world.
Dubai has a more stable and business friendly legal system for offshore. This is why in Dubai offshore company is becoming one of the most widespread kinds of business setup. The offshore company formation in Dubai is so easy that it can take only some weeks to complete. The formation process for an offshore company in Dubai depends on where one chooses to set up. Though, there are some requirements to do the formation of an offshore company in Dubai.
The first step of an offshore company formation in Dubai is arranging some required documents. The following are the documents that are necessary for the application of registration for an offshore company:
Note: There must be at least one director, the shareholder can also become a director. The bank reference letter and utility bill must be in English and addressed to the offshore jurisdiction of the UAE. The application form must go with the memorandum and association articles proposed by the offshore company.
The offshore company should file all the correct required documents. Any errors in these documents can lead to a delay or even the rejection of the application. So the new offshore company can work with a company formation specialist to manage the entire application process.
Least required capital for offshore company setup in Dubai
Comparison with Register Company
There are three offshore jurisdictions in the United Arab Emirates (Jebel Ali, Ras Al Khaimah (RAK) and Ajman). These offshore jurisdictions have their own registration authorizations. The offshore company must follow the laws and regulations of offshore jurisdiction companies. The offshore company must not exchange in offshore jurisdictions.
A comparison between UAE offshore companies for registration Jebel Ali in Dubai, Ajman offshore company and Ras Al Khaimah (RAK) (jurisdictions)
|Q/A||Jebel Ali offshore company||RAK offshore company||Ajman offshore company|
|Summary at a Glance||USD||USD||USD|
|Company set up costs||USD||USD||USD|
|Later annual costs||USD||USD||USD|
|How long to set the company up?||10 to 15 days||10 to 15 days||10 to 15 days|
|Are there any restriction on activities?||Yes||No||No|
|Documents that are needed to be legalized by Client||Yes||No||Yes|
The measures and expected costs of registering an offshore company (in 2017)
|Application for the certificate of incorporation||US $ 550|
|Annual fee for registration of an offshore company||US $ 410|
|Registration of the Memorandum and Articles of Association||US $ 140|
|Submission of the corporate documents to the registrar||US $ 140|
|Total fees payable to the registrar of offshore companies||US $ 1665|
Other fees to set up an offshore company in Dubai
Opening offshore bank in Dubai
Opening bank account for an offshore company is a common need for the formation process in Dubai. The offshore jurisdictions are working hard with all the UAE banks to open bank accounts for offshore companies in Dubai.
Yearly requirements for offshore company in Dubai
|Annual Renewal of offshore company formation in Dubai||Yes|
|Annual Reporting of offshore companies’ formation in Dubai||No|
|KYC information to offshore company formation agents||Yes|
Rules, regulations and restrictions
Benefits of an offshore company formation
Starting an offshore company in Dubai can benefit in many ways:
Dubai is one of the fastest growing international business spots for starting an offshore company. It has a high reputation for providing a secure, tax-free environment and jurisdiction companies. You can also, check about how to setup a free zone company in Dubai. So offshore companies can have complete protection for their valuable business assets and international business trading.