Free Zone Offshore company in UAE
If all company business takes place outside of UAE and you are looking for a cost effective solution, Free Zone Offshore can be the right solution for you.
Such company though is allowed to purchase real estate, to own shares of another UAE company and to have bank account in Dubai.
You do not have to come to Dubai for registration. Although if you plan to open bank account in UAE bank, one day visit will be required.
The Free Zone Offshore entity can be used for all types of activities – trading, holding assets, holding shares, IP holding, commerce, consulting, and many more.
Besides stable reputation of UAE company, any business person will appreciate as well the following features:
- Total tax exemption: no income taxes, withholding taxes, no VAT
- Owners can be private persons or legal entities from any country
- Names of directors, shareholders and beneficial owners are disclosed to the public
- No minimum share capital requirement
- No obligation to file annual financial reports or audit
- Nominee services of directors and/or shareholders are available
- The word "offshore" is not used on the Registration Certificate
- Business license is not required (unlike for UAE onshore companies)
The above parameters are surely available for most of conventional offshore jurisdictions. The considerable minus of UAE company is legalization of documents via embassy, as UAE yet have not signed Haaga's convention on Apostille. But there are normally no problems to receive documents legalization in UAE, although it might take 1-2 weeks. For the UAE companies that open bank account in UAE document legalization is not required.
One of the biggest pluses of the UAE company formation and bank system is confidentiality. UAE bank secrecy and stability is often compared to Swiss banking system. Thus for those looking for confidential and effective bank service, having UAE offshore company with UAE bank account can be a great alternative to classic tax havens.
HOW DARWIN TAX CAN HELP?
- Introduce to major UAE banks
- Prepare company and client profile to suite requirements of the chosen bank
- Open bank account at UAE bank for both UAE and offshore company