Investing in Dubai is one of the best steps that many clients take. You can establish an offshore company in Dubai. Therefore, companies are keen to carry out their business in other countries away from their own thanks to the investment incentives and advantages that these countries provide in terms of aid and facilities, as well as taxes. Low, and one of the best of these countries is of course the UAE. Therefore, the UAE allows the establishment of offshore companies in Dubai and other emirates, and through today’s article we highlight the most important steps for establishing companies in Dubai, which can establish through Tasyeir Company.
Establishing an offshore company in Dubai
Offshore companies registered in accordance with the laws of the State (UAE) with the help of Tasyeir Company, which is carried out by the person who undertakes the registration service. The offshore company may be a commercial or industrial company or one affiliated with mining, investment, extraction of gas or oil from the ground, or something else.
Difference between local companies and offshore companies
- Local companies (on shore) are companies that have the full right to carry out all forms of activities within the UAE.
- Offshore companies located within the free zone in Dubai, but they do not have the right to establish any business within the United Arab Emirates.
- Accordingly, there is a big difference between establishing internal and external companies.
Advantages of establishing offshore companies in Dubai
There are several advantages that you may obtain while establishing Offshore Dubai, through Tasyeir Company, the most prominent of which are the following:
- The state does not specify a specific value for capital to establish an offshore company. It is the investor who chooses the capital to establish his company.
- You can establish a company with a minimum number of shareholders and directors.
- When establishing an offshore company in Dubai, the owner is exempted from taxes and fees by 100%.
- As well as, foreigners and investors allowed 100% ownership of an offshore company.
- The investor is not restricted from placing the bank’s capital.
- The headquarters of the offshore company is in the free zone in Dubai.
- There is no need to go to government agencies in order to establish offshore companies; You can establish it through Tasyeir of administrative services.
Conditions for establishing an offshore company
There are some basic conditions that must be known well in order to be able to establish an offshore company in Dubai:
- Any individual or group can submit a signed application to the responsible registrar to obtain an offshore company establishment certificate.
- Each offshore company has one management team, a specific type of shares, and divided into divisions of equal value.
- As well as, the company wishing to start must obtain a license from the competent authorities and authorities.
- The offshore company does not have the right to practice banking, insurance, or any other activity prohibited by the competent authorities.
- The offshore company must have a registered office in the free zone and also have a legal agent who has been approved by the free zone authorities.
Steps to request the establishment of an offshore company in Dubai
There are several steps to submit an offshore company application, as follows:
- The company name ends with one word.
- Explain the purpose of establishing the company.
- Company office address.
- The value of the company’s capital.
- Dividing the company’s capital into equal shares.
- The investor’s full name or names of investors.
Types of license to establish an offshore company in Dubai
1- Industrial license
It is a license for construction and small industrial activities.
2- Logistics license
This license only issued in the logistics area in order to perform this type of service.
3- General commercial license
This license is for the import, export, storage and distribution of items mentioned in this license, and you can also sell them throughout the Emirates.
4- Service license
It is specific to the services mentioned in this license.These services can provid within the free zone or other places within the borders of the Emirates.
5- Teaching license
This type is for training and social services, and this license in particular is required when starting to establish an offshore company in Dubai.
It is worth noting that there are some distinct powers that distinguish offshore companies from other companies in the Emirates.
Powers of the offshore company in Dubai
- An offshore company may not transact business with individuals residing within the UAE.
- It has no right to own interests in real estate within the UAE except those mentioned in the regulations or with the approval of officials.
- Offshore companies are not entitled to trade in any banking business after completing the construction phase.
- It has no right to engage in insurance business or act as an agent or broker.
- As well as, it has no right to practice any work that is prohibited by the list.
- If the offshore company wants to practice any business other than what is written in the regulations, or in violation of licenses, or outside the free zone, it must obtain approval from the specialists.
Procedures for registering an offshore company in Dubai
- Submitting a company registration certificate in the free zone.
- Specify a number for the offshore company for which this number will be registered.
Documents required to establish an offshore company in Dubai
- A copy of the passport of all shareholders.
- As well as, proof of residence.
- An invoice showing the name and address of the investor. The invoice period is a maximum of 90 days.
- Fill out the application form duly.
- As well as, letter from the bank.
- Business file for investors.
- Activities that the company would like to carry out.
The most important advantage that motivates foreigners to establish offshore in Dubai is that the government in the Emirates allows foreign investors full ownership of these companies on Emirati lands, and also the advantage of low taxes that applied to offshore companies in Dubai Vintage, which is provided by Tasyeir Company, is a significant saving. The financial resources of these companies can use to develop these companies.
Follow us on Social media
