Whether you’re an investor, a businessperson, or an entrepreneur looking to get higher up in the world, setting up an offshore company in a foreign country is something you should seriously consider. But not just any country, the United Arab Emirates.
Dubai, Abu Dhabi, and Ras Al-Khaimah are three of the most popular Emirates in the country for setting up new businesses. With an offshore United Arab Emirates company, you can work in investment, real estate, ship management, yacht owning, trading, and many other things.
While you can open multi-currency accounts and carry out international business, you will not be allowed to conduct business in the United Arab Emirates with an offshore company. That’s a general understandable rule for offshore companies.
Now, let’s see why people are rushing to open offshore companies in the United Arab Emirates. Here are some benefits:
1. No Taxes
The primary reason why Dubai is becoming incredibly popular for offshore companies is the zero tax policy. All the offshore companies in the United Arab Emirates are exempted from paying taxes. Whether it’s inherent tax, corporate tax, income tax, or any other, none of it is levied to give you greater returns. Also, the United Arab Emirates maintains a double taxation agreement with 41 countries worldwide which ensures that if you have an offshore company in the country, you will not be taxed twice.
2. Get Full Ownership
Unlike other GCC countries, it’s not mandatory for an offshore company to have a local partner or shareholder. You can easily be the director of the offshore company while holding any nationality. Furthermore, the shareholders are also allowed to own properties in many selected areas. You can run your business the way you want, without having to depend upon any other local partner or entity. However, if you do wish to involve a local partner hoping to engage their skills or experience in the country, you are free to do so too.
3. Incredibly Simple and Cost-Efficient To Set Up
In the United Arab Emirates, the process of registering an offshore company is incredibly simple and fast. In the first step, you need to find a suitable organization that can help you with your dubai-offshore.com business goals. Secondly, you can talk to them about your needs and finalize an appropriate agreement. Finally, you can have your offshore company set up within a period of four to five days.
The companies in the United Arab Emirates don’t need more than one shareholder or director to register. To make this even better, you don’t even need to have an office in the United Arab Emirates in most cases. The offshore company can be completely virtual.
4. Public Registration Is Not Necessary
A great benefit of having an offshore company in the United Arab Emirates is that you can enjoy complete confidentiality. The government doesn’t make the information about its owner public. All of the information on the offshore companies in the United Arab Emirates is highly restricted and not subject to disclosures. This can be incredibly advantageous to protect your business from any risks and fierce competition.
5. Maintain Your Reputation
While having an offshore company can be beneficial for investors, organizations, entrepreneurs, and many others, it can sometimes affect your reputation negatively. However, that is the case only if you have an offshore company in certain countries. United Arab Emirates is on something that is known as the “white list” of offshore companies. That means you don’t have to worry about your reputation taking a hit when you open an offshore company in the United Arab Emirates. You can enjoy credibility among your customer base and partners while being registered in a developed country.
6. Protect Your Assets
By setting up an offshore company in the United Arab Emirates, you can gain protection for your assets in the case of a potential lawsuit. If you fortify your asserts by setting up a trust, an LLC or a foundation in the United Arab Emirates, you make it difficult for law enforcement to set a price on your assets and link the both of you together, hence, keeping your assets safe in an unfortunate legal battle or circumstance. Any assets or investment you may own should essentially be separate from your legally and be under a separate entity for added protection. This separate entity can be you off-shore company and hence protect your assets in case you go bankrupt or have any outstanding debts that are payable.
7. Give Yourself Legal Protection
Since an off-shore company is set up as a separate business entity and in a different judicial jurisdiction, it comes under a different law book altogether. This helps you protect your company and keep safe any assets if you fall under trouble with law enforcement of are paced with a lawsuit. Any requests from another country regarding assets declare are not entertained by local countries in which the off-shore company is maintained, unless there is a serious charge on you along the lines of terrorism or criminal activity. Not the strongest creditors are able to get through this legal system, and only if they have considerable reason to do so.
The United Arab Emirates is nothing less that a crown jewel amidst all the Arab countries in terms of its powerful and booming economy, its immense business potential and its favorable investment climate and environment. It is a hub for all types of businesses and investors, and hence poses to have a high potential to help any type of business succeed and take off. Hence, any off-shore companies in the United Arab Emirates are bound to success and facilitate its owners and investors alike. Not only is the economic environment suitable, but the government and regulations also favor the presence and setting up of off-shore companies in the country. Numerous factors add up to his image which are explained above in detail and include confidentiality, ease of setting up, asset protection, legal protection, rights and anonymity to name a few.