With the life of free trade, it is now possible to do a business in many countries. And you do not have to be a big brand for that. From small and medium, and from manufacturing to service provider, you can start any type of a business.
Dubai is fast emerging as the most suitable business destination for outside country investors. This is only for Dubai business friendly economic policies and active efforts of the authorities to attract international investors.
The Dubai offshore zone stands out from other options.Companies registered here will have a good reputation. But the tax climate and audit requirements remain much like that of classic offshore zones. Among a number of benefits is optimally comfortable condition for foreign entrepreneurs.
What Are the Benefits of Registering an Offshore Company in Dubai?
Having an offshore company in Dubai, you can conduct your business activities only outside the territory. But you can buy and own real estate in the country, as well as shares of local companies. Except banking and insurance business, you can do any legal business activity.
The main advantages of setting up an offshore company are:
- 100% ownership by foreign founders or shareholders.
- Tax-free profit.
- No customs fees for export and import of goods.
- No restrictions on the export of capital and profits.
- No need to contribute to share capital.
- No an annual audit report be submitted.
- And high level of privacy.
For your offshore company, you can open a bank account in the Emirates themselves or in any country in the world. However, it is better have a bank account in UAE. There are a number of well-established local or well-known international banks which offer easy and hassle-free bank account opening process for foreign entrepreneurs.
Setting up a Company in Dubai: Things You Will Need
Dubai free zone is one of the options for setting up an offshore company in the UAE. Others include RAK Free Zone (Ras Al Khaimah) and Ajman Free Zone.
Whatever option you choose, there are some certain requirements you need to meet. If it meets all the requirements for registering an offshore company in Dubai it would take a week of time for your application to get approved.
The first step in registering an offshore company is choose a reliable company formation firm. That is all you will need. Your company formation agency will take care of all things required, like filling application, choosing a license, and other legal formalities if there are any needed for starting a business in Dubai.
