When it comes to offshore registration, you do not need to worry too much about it. An agent company appointed by you always concludes offshore registrations and as it is their task; they know all well what to get for the perfect offshore registration. Of course, offshore registration process is different in every country but your agent’s task is to know all the requirements for their fee so they will register in your name. It is never wise to start…
Category: Offshore Companies Dubai
We know that Dubai within the UAE has built itself out to be one of the most inviting places for businesses and businesspersons to go. Dubai welcomes all sorts of businesses and although it has several regulations, they do not necessarily make life more confusing. In this article, we would like to say a few words about Dubai Offshore company features offshore areas and on the terms and conditions of setting up an offshore business.
Offshore companies are businesses that work outside of the owner’s home country yet they cannot deal with the affairs of the country in which they are staying at. In some ways, Dubai offshore company could be also a representative of a national company but it does its best to be without roots. This is why offshore type of company seemed like an inviting target for all those who wanted to operate a company without the obligation of paying taxes for example. Therefore, offshore company has a bit of a bad reputation in the business sphere. Dubai offers several solutions for offshore companies but on many conditions. First, in order to establish a Dubai offshore company you must be residing in one of the several Free Zones of Dubai. Free zone means a territory that is virtually tax free by means of business operation. There are certain sorts of businesses as for their specialisation that can become offshore company within the United Arab Emirates without actually doing any related business there. Tax Free Zones have different legislations and rules; so from business point of view, they must suit the laws of Dubai and the laws of the Tax Free Zones. Dubai currently lets companies to set up an offshore company in the following free zones:
According to the local laws you can only establish a Dubai offshore company in Dubai if you have a registered UAE or Dubai agent. These are the free zones that allow the housing of an offshore company which should not have any business interest neither operation within the UAE: Jebel Ali Free Zone, Dubai Investment Park, Dubai Internet City, the Dubai International Finance Centre (DIFC), which opened in 2003, the Dubai Airport Free Zone, and Dubai Media City
Let us now see what forms of an offshore company can be housed in the Jebel Ali Free Zone which alone produces ¼ of the total GDP of Dubai with over six thousand companies making it the most promising FZE zone :
• Offshore with general trading licence: This licence allows the offshore company to make import and distribution activity outside the UAE according to the Jafza regulations.
• Offshore holding such trading licence that allows the export-import and distribution of those goods enlisted in the licence.
• Offshore holding an Industrial Licence: This allows the import and manufacturing of specific raw materials which are later exported outside the UAE
• Offshore with a Service Licence: This licence allows company to execute the services specified beforehand in the area of free zone; yet in this case the parent company should hold a licence authorised by the Economic Department of Municipality that allows the execution of this services in a specific Emirate which is the seat of parent company.
• Offshore holding a National Industrial Licence: Specifically for those companies that have a minimum of 51% interest of Gulf country ownership (country that is member of AGCC (Arabian Gulf Cooperation Council)
For the forming of such Dubai Offshore company located within the free zone, company must submit an application form, then wait for the decision of the applicable Free Zone Authority. Dubai Offshore company regulations differ in each FZE. Check out on this or contact the applicable FZE and a registered agent through which the whole process will be easy.
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