Establishing an offshore company in Dubai lets you enjoy a long list of benefits:
Tax advantages
Offshore businesses in Dubai are exempt from annual taxes, so you can keep more of your hard-earned profits. Beyond income taxes, offshore companies also enjoy exemptions or significant reductions on various taxes, including capital gains, VAT, property sales taxes, and inheritance taxes.
At Virtue, we understand the importance of comprehensive tax planning. We can help you strategically design your offshore company formation to minimise your overall international tax liability while ensuring compliance with all relevant regulations.
Important note: While Dubai offers significant tax benefits for offshore companies, it’s crucial to make sure that your business activities comply with local regulations and that you pay taxes in your country of residence (if applicable). Consult with a tax professional to get tailored advice on the specifics of your situation.
Full ownership of your business
An offshore company provides 100% ownership for a foreign expatriate and complete repatriation of profits. Additionally, it ensures full security and confidentiality of assets. Note that although there is no minimum share capital requirement, the government registrar may require some businesses to have paid-up capital that aligns with their proposed activities.
No need for an office
There’s no requirement for a physical office in Dubai — as long as the company is registered, you can operate remotely. You can form your company with just one shareholder or even hold shares in other companies through your Dubai entity.
Secure international transactions
Offshore companies in Dubai can open and maintain multi-currency bank accounts to simplify international commercial transactions and ensure financial security. Businesses can take advantage of this unique position to access international markets and global funding, too.
Business-friendly environment
Dubai is a well-known, business-friendly, and stable setting for any business, thanks to its tax neutrality, flexible regulatory regime, and outstanding asset protection and separation. And because it is a global hub for tourism and trade, it is 100% committed to safety and security. The city boasts a low crime rate and a strong law enforcement presence. This creates a stable and secure environment for businesses to operate and thrive.
Real estate ownership
Certain free zones in Dubai allow companies registered within their zone to own property. Entrepreneurs can also consider establishing a holding company within a permitted free zone owned by the offshore company. This holding company may then be used to purchase real estate.
Quick and easy formation
Compared to other businesses in the UAE, company formation in Dubai is a particularly fast and easy process, especially with our help. At Virtue, we can complete the process in less than two weeks, provided that all your documents are complete.
What is Offshore Company Formation?
An offshore company refers to a corporation or LLC registered, established or incorporated outside a country’s jurisdiction. So, why form an offshore company? Well, it offers numerous benefits including tax savings, asset protection, and easy international business operations. But, do you know how to get it done efficiently and legally?Virtue Corporate Services is your go-to business partner for offshore company formation. With years of experience and a trustworthy reputation, we use our expertise to make your venture a success.
Steps involved in offshore company formation in Dubai
Step 1: Choose a company name.
We can help ensure that your chosen name adheres to all UAE business naming regulations, saving you time and potential delays.
Step 2: Apply for your business setup.
The next step is to complete the application form for Dubai offshore company formation and provide supporting documents, including:
Proof of identity, address, and passport copies of your directors and shareholders
Your shareholders’ CV
A professionally drafted business strategy
Step 3: Submit the documents.
After collecting the necessary papers, present them to the relevant authorities for assessment and to acquire the necessary permissions.
Step 4: Present the Memorandum and Articles of Association.
Write your Articles of Association (AOA) and Memorandum of Association (MOA) in English and present them to the relevant authority. You can only start running your business after these documents are approved.
Step 5: Open an offshore bank account.
The last step in company formation in Dubai is opening an offshore bank account. With this, your business can conveniently conduct transactions and avoid any hassles.
Documents required for offshore company formation in Dubai
The Jebel Ali Free Zone (JAFZA) offers numerous amenities and opportunities, making it a favourable destination for growing your business. This world-renowned manufacturing and commercial hub ensures full privacy and confidentiality.
If you’re interested in setting up your offshore company here, prepare the following documents:
Filled out application form
Copies of your shareholders’ passports
Curriculum vitae (CV) of all shareholders
Address proof (utility bills, lease agreement, etc.)
3 chosen names for your company
Reference letter from a bank or your bank statement from the past 6 months, if necessary
Type of business activity
Assuming you have the right documentation and have fulfilled all the requirements, we can help you set up an offshore company in JAFZA within 10 to 12 working days.
But what makes us stand out?
We’re a professional firm specializing in offshore company formation. Our expert team comprises seasoned industry members with a wealth of knowledge in business and financial matters. By leveraging our skills, you can trust us to navigate through the intricacies of offshore company formation with ease.
Offshore company formation in Dubai for Business Owners in India, Russia, UK, USA & across Europe, Asia & other continents.
Why Trust Us?
We understand that trust is earned, not given. With our customizable solutions, you can rest assured that we respect your unique business needs. Our commitment to integrity, coupled with our expertise in offshore company formation, makes us a reliable choice in the corporate services sector. Moreover, our track record speaks for us – our satisfied clients can vouch for our services.
