The biggest incentive for establishing a business process in the UAE is the ease of doing business. In addition to the different sops offered by the Emirates, there are tax breaks and fund repatriation advantages for companies. Different types of company formation are available for entrepreneur and business entities. One of the types of company formation is an offshore company. It offers unique advantages – such as the need for dispensing with the physical presence of the entrepreneur for establishing the business. An offshore company is also most suitable for businesses that plan to cater to the clients who are located outside the UAE. Here is a look at some of the requirements for offshore company formation, which can be used to identify the best company formation consultants in Dubai.
Mandatory documentation required for offshore company formation
When you use the services of reputed company formation consultants in Dubai, you will receive information about the need for furnishing the following documents. The proposed business entity needs to submit three choices for the name of the business. There are certain rules regarding the use of names for company formation in Dubai. Details of the promoters and the beneficiaries also need to be furnished, along with the nature of business activities of the company. Identification such as proof residence and the copy of passport need to be furnished. The memorandum of association and the shareholding pattern of the business entity are mandatory submissions. The do business entity also needs to furnish a certificate from the embassy vouching for the integrity and credentials of the business. A reference letter from the bank and the trade license will also need to be submitted for offshore company formation.
Timelines for the conclusion of formalities
When you use the services of reputed company formation consultants in Dubai, it is actually possible to conclude the formalities within 3 days. However, it is important to note that, at this possible only when the desired documents are submitted as per the satisfaction of the authorities. One of the reasons for a quick conclusion of formalities is the fact that at the tax-free redeem dispensers with the need for complex vat registration. An offshore business entity needs to have a bank account before transacting. Therefore the total time that is required for the commencement of business activities will include the time that is required for opening a bank account. Not all business activities we will be permitted to be carried out through offshore company formation.
We are one of the reputed company formation consultants in Dubai or offering end to end solutions for business entities. Our services straddle all requirements that a business will need at the time of company formation in Dubai. This includes helping with identifying suitable locations for serviced offices, completion of all formalities for company formation, assistance in bank open formalities, and assistance in processing visa formalities. Our services are fully compliant with all the regulations, and help trains to submit documents as per exact requirements, helping in the quick conclusion of obligatory requirements.