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Offshore Company Setup in UAE

Offshore company setup in UAE is the most cost-effective option of all available if you intend to set up your business in UAE but to conduct business activity outside UAE only. Offshore company suits well for international trade and transactions. Offshore Company setup is UAE is an option for businesses who mainly conduct international trade transactions.

Advantages of Registering an Offshore Company in UAE
  • Is able to conduct business activity outside UAE only.
  • Allowed to open and hold bank accounts in UAE banks.
  • Allowed to have up to 5 business activities on business license.
  • Allowed to be a shareholder in other companies in the UAE.
Disadvantage of Registering an Offshore Company in UAE
  • Not allowed to conduct business in UAE.
  • Not allowed to rent an office space in UAE.
  • Not allowed to apply for resident visas for its employees.
  • Not allowed to apply for Tax Residency Certificate.
  • Not allowed to receive funds from UAE companies or to pay UAE firms.

UAE Free Market Banking Advantages for Offshore Companies

UAE Offshore companies can open bank accounts locally or in any other country. Below we shall describe the different aspects of domestic banking.

UAE, being one of the region’s leading business centers calls for a safe, secure, innovative banking system vital.

The UAE has a stable and robust banking sector regulated by the Central Bank. The Central Bank, established in 1980, supervises monetary, credit and banking policies and its implementation, monitoring its accordance with UAE rules and regulations. It strengthens the national economy and enhances the value and stability of the local currency. The Central Bank also maintains the UAE government’s reserves of priceless metals, foreign currencies and regulates banks which operate inside the UAE.

Procedure for Setting up an Offshore Company in UAE

Before going for Offshore Company Setup in UAE, it is significant to understand that Offshore companies are non-resident companies which are not permitted to conduct any business within their jurisdiction of incorporation.

Offshore companies have three variation in UAE:

  • Its registration has to be made in the same jurisdiction.
  • Owners of the business may live within or outside the jurisdiction of incorporation.
  • The business transactions are held outside of the jurisdiction of incorporation.

The most popular offshore jurisdictions in the UAE are mainly from Dubai.

Documents requirements are as follows:

  • Passport copy
  • Utility bill of residence.
  • Bank letter
  • Bank Statement
  • CV