Dubai offshore company formation is an effective first step to register a company in Dubai. Dubai offshore company formation is one of the best methods for asset protection and tax savings.
Jebel Ali Free Zone Authority is the regulatory authority for Dubai Offshore company registration. The regulations of the free zone permit and guide the offshore business setup and offshore company formation in Dubai (within the Free Zone).
Continuing from our previous article “UAE Offshore Company Formation“, this article will focus on the specific features of Dubai offshore company formation and the requirements of offshore company registration in Dubai.
Uses of Offshore Company Registration:
The offshore companies in Dubai can be suitably utilized as an investment company, holding company or real estate holding company. Dubai offshore company formation can also be used for further investments in local companies or Free Zone companies and for international trading activities.As in other offshore jurisdictions, individual clients or corporate entities can not register an offshore company in Dubai directly with Jebel Ali Free Zone Authority. Firms of accountants and lawyers as approved by the Authority are permitted to provide services to clients for Dubai offshore company registration, registered office and for acting as agents for the companies. Alternatively, clients can also approach sub-agents of such registered agents for Dubai offshore company formation.
A Dubai offshore company offers similar advantages as other offshore company formation solutions and some additional benefits that are unique to Dubai. Some of them are listed below.
- Tax optimization.
- Asset protection.
- Asset holding.
- Succession planning.
- Ship and aircraft registration.
- Trading in high risk instruments.
- Trade financing.
Features of the Dubai offshore companies.
- Limited Liability Company.
- Requirement to have an approved registered agent either within the Free Zone or in the Emirate of Dubai.
- Requirement to appoint shareholder, Directors, Manager and Secretary.
- Bearer shares not permitted.
- Issue of shares of only one class permitted.
- Requirement to have accounts audited on annual basis.
Reasons for Dubai offshore company formation.
- There are no personal or corporate income tax on a Dubai offshore company.
- There are no minimum capital requirements for Dubai offshore company formation.
- Dubai offshore company pictures a good image of the entity to its clients and other stake holders.
- Good privacy and security for a Dubai offshore company.
- Absence of public register of directors and shareholders.
- Dubai offshore company formation is easy and free of hassles.
- Offshore companies in Dubai can hold an offshore bank account in Dubai.
Dubai offshore companies are allowed to perform the following activities.
- Have contacts with legal consultants, lawyers, accountants and auditors.
- Have bank account in the UAE.
- Become shareholders in a new or existing Free Zone Entities or an LLC.
- Hold shareholders and directors meeting within the United Arab Emirates.
- Carry out international trading.
Dubai Offshore companies are not allowed to perform the following.
- Carry on business with persons resident in the UAE.
- Own an interest in real estate property situated in the UAE, other than a lease property referred to in the regulations or approved by the authorities.
- Carry on a banking business.
- Carry on business as an insurance or re-insurance company, insurance agents or insurance brokers.
- Carry on any other business which may, by regulations be prohibited by the authorities.
Offshore Company Registration: How to register an offshore company in Dubai?
Offshore company registration in Dubai is regulated and monitored by Jebel Ali Free Zone Authority. Jebel Ali Free Zone is one of the leading Free Trade Zones in the world. The Free Trade Zone oversees all the professional offshore company registration processes within Dubai.
Clients who are planning for an offshore company registration need to go through the registered agents of Jebel Ali Free Zone Authority (Jafza) to proceed with the business setup process. These agents normally offer business services such as business consultancy services, auditing services, legal services etc. Clients have the option of approaching business consultants who have access to the registered agents of Jebel Ali Free Zone. It is important to keep in mind that the clients cannot approach the offshore authority directly for Dubai offshore company formation. Cost of offshore company registration may vary depending on the agent you are dealing with and the type of services you may require.
About Cross Border Business Consultants.
Cross Border Business Consultants (CBBC) is a fast growing new generation business services firm head quartered in United Arab Emirates. Dubai Business Blog is the official blog of Cross Border Business Consultants.
As registered agents of offshore company registration in United Arab Emirates, Cross Border Business Consultants can address all your offshore company registration requirements.
CBBC is a professional team of Management and Business Consultants in Dubai specializing in Dubai offshore company formation, Dubai company registration services, Free Zone business formation assistance in United Arab Emirates etc.