Start an offshore company
in Dubai in the United Arab Emirates
What do we mean by an offshore company?
According to the definition proposed by the Organisation for Economic Co-operation and Development, an offshore company (extra-territorial corporation) is a tax-exempt corporation that is not authorized to engage in business in the jurisdiction of incorporation.
Offshore financial centers have been established which are places organized by certain States or territories which reserve specific rules similar to those of tax havens to international operations not linked to any activity in their territory, British Virgin Islands, Bahamas, Belize, Panama, Gibraltar, Seychelles, Delaware, Hong Kong and recently Ras Al Khaimah in the United Arab Emirates.
Although the characteristics of offshore companies may differ from one jurisdiction to another, they will always have in common:
- Exemption from corporation tax
- The preservation of the confidentiality of the company’s owners
- Wide latitude to engage in various businesses and activities
- No obligation, or very limited, to maintain and produce
- The capacity to issue registered or bearer shares
- No obligation to designate a local manager “A Local Authorized Agent”, such as us, to represent the company in the jurisdiction.
The privileged tax environment, and therefore highly competitive, greatly disturbs some countries that apply corporate taxation.
Indeed, offshore companies make it possible to optimize the taxation of companies and thus represent a shortfall for the caisses in the states applying the corporate tax. To this end, the Organization for Economic Co-operation and Development (OECD) is putting enormous pressure on these jurisdictions to change their policy on offshore companies. Some jurisdictions (not all) sometimes cede to certain issues such as “issuing bearer shares”. But, on the whole, they are resisting these pressures, because for most of them, this specialty of offshore financial center is their main activity and source of income.
The legal entity of the offshore company
An offshore company is a legal entity incorporated in what is called a “tax haven”, ie a country (or jurisdiction) with zero or reduced taxation. Only a few fixed and very low fees must be paid by the company at its creation and each year.
The offshore company is commonly used for offshore banking operations, international commercial transactions, investment activities and the management and protection of financial assets, both movable and immovable. The offshore company can not trade within its incorporation jurisdiction.
The offshore company can therefore buy and sell goods and services, obtain a bank account, manage and control other companies.
The offshore company can own real estate and land, franchise, license, intellectual property.
The offshore company can hold and retain assets in a reliable and secure financial center. The owner of the offshore company can therefore retain a 100% control over its assets.
The offshore company is extremely private. In these jurisdictions, a tax ID number is not required to open a bank account for the company. The disclosure by the banker of a link between you and the bank account of the offshore company is a crime severely punishable by the law of the jurisdictions concerned.
In addition, there is no public register of companies to know the owner of an offshore company.
Types of activities permitted for your offshore company
- Import Export
- Graphic Designer / Programmer
- Activity not requiring physical presence
Procedures and deadlines:
- Reservation of company name – 1 day
- Preparation of documentation and document verification – 2 days
- Signature of the statutes – 1 day
- Receipt of Articles, Certificate of Registration and License – 3 days
- Opening of bank account – 2 days (Presence required)
Offshore company of RAK type
- Tax: No taxes
- Accounting: Jurisdiction does not require annual accounts
- Capital: No capital to release
- Deadline for incorporation: 24h per day on Business Days to accept documents in our offices
- Incorporation costs: Creation at low cost
- Renewal Costs: Low Cost Maintenance
Get in touch with us
We will contact you within 24 hours to discuss with you your project and your objectives and guide you in all of your business undertakings.
We can be contacted by phone at the number below
Address : Swiss Tower – Office 506, Cluster Y, Jumeirah Lakes Towers (JLT) – PO BOX 391960 – Dubai – United Arab Emirates
Metro : Damac Properties
License NO. : 12802
Registered Agent number (registered at Ajman Freezone) : OS/RA/051/2015
Telephone : +971 50 100 33 02
WhatsApp : +971 50 100 33 02
Skype : Khaled.easycompany
Opening hours: 9am to 7pm
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