Offshore company formation UAE
The word “Offshore” is essentially based on operating, managing and executing in foreign nations with benefits in tax, legal and financial. The offshore company formation is the procedure where the company operated outside of the nation where it is registered or outside of the nation in which shareholders and owners have a residence. MSZ corporate services provider assists in an offshore company formation UAE.
- 100% Foreign Ownership: The International Companies Regulations requires does not require a local (UAE nationality) shareholding in an offshore company as compared to the companies, which are incorporated in the United Arab Emirates mainland, which requires compulsory local (UAE nationality) shareholding. However, foreign investors, individual or corporate entities may possess 100% share equity.
- Exemption from Personal or Corporate Tax: At present, there is no personal or corporate tax set at the emirate level and not at the federal level with restricted exemptions. Therefore, municipal expenses and duties are set in relation to specific special commodities.
- Easy Registration Process: The registration process is easy and quick and will be done within a maximum period of 3 to 4 working days upon the submission of the necessary documentation.
- Cost-Efficiency: Incorporation cost is generally low as related to the other entities incorporated in the mainland or free zone of individual entities.
- Low Operational Costs: Offshore Companies are not subject upon any registration circumstances concerning the renting of premises, the provision of assurances and employment of staff. An offshore company may direct the offshore companies’ business by way of office or enlisted agents.
- Share Capital: There is no need for minimum share capital.
- Transferable Shares: Shares in offshore companies are freely and simply transferable by a written instrument.
- Limited Liability: The liability of investors in an offshore company is definite to their share in the capital of the organization. The regulations need that the name of the offshore company may end with “Limited”.
- Bank Account: An Offshore Company can open a account in the United Arab Emirates bank and also operate such accounts.
- Other Advantages: An Offshore Company setup in the United Arab Emirates can be utilized for worldwide trading, asset security, tax plan, obtaining real estate properties in the assigned region of the United Arab Emirates, holding, turn into partners and obtaining shares of different companies, trust funds and so on.
Restrictions on the Activities of Offshore Companies UAE
- The activities specially restricted under the regulations are banking, financial and insurance services.
- UAE Offshore Company formation is not mainly allowed by the regulations to continue any commercial operations inside the United Arab Emirates.
- Possess an interest in a real estate property located in the United Arab Emirates except in the designated regions of the United Arab Emirates as affirmed by the government.
Requirements for an Offshore Company Formation UAE
- Offshore company formation UAE process is begun by one or more persons, who might be either juristic or natural, presenting a signed application form to the registrar of an offshore company, together with the related recommended supporting documents.
- It is adequate to express that the object of the offshore company is to participate in any lawful act or activity for which offshore companies might be arranged under the regulations. The proposed capital of the offshore company will be expressed in the application form.
- The info required on an application form must admit the full names and the place of residence of the investors, the no. of shares proposed to be held by them and the amount of the shareholdings.
- Furthermore, the full names and place of residence of the directors, full name and place of residence of the registered agents. The application form must be followed by the offshore company’s proposed memorandum and articles of association (AoA).
Documents Required for an Offshore Company Formation UAE
1. Individual applicant:
- Personal Profile of the applicant
- Applicant’s passport copy
- Bank reference letter
- Proof of residence
- Passport copy of the Director
- Power of Attorney
2. Corporate applicant:
- Registered certificate of the company properly attested and legalized by the United Arab Emirates Embassy/Consulate in the nation of origin.
- Good standing certificate of the company properly attested and legalized by the United Arab Emirates Embassy/Consulate in the nation of origin.
- Memorandum of Association (MoA) and Articles of Association (AoA) of the company properly attested and legalized by the United Arab Emirates Embassy/Consulate in the nation of origin.
- Bank Reference Letter.
We MSZ corporate services provider are one of the top agents for offshore company formation in UAE. MSZ corporate services provider is the registered agent for offshore companies in Ajman, JAFZA, and RAK. Our experts will assist you in Business setup in UAE