Opening an offshore account in UAE
OFFSHORE COMPANY FORMATION in the UAE
The United Arab Emirates is one of the most attractive locations to do business. The country is well-developed, has a stable economy, modern infrastructure and other advantages. That is why a lot of successful foreign businessmen and investors select the UAE to run their business here.
Thanks to a sound reputation and investment protection, a number of international business companies (IBC) is increasing every day in the UAE in every branch in the form of large and medium-sized companies, as well as small businesses. S.H Business Adviser offers services on registration of an offshore company in Dubai and other emirates. Our team of experienced legal professionals and economists will help you to find the best business solution and will give you a detailed consultation regarding any questions. Our company is located in the UAE, so we work directly without any intermediaries and are ready to offer you reasonable prices for our services.
UAE offshore company: benefits and features
UAE offshore company is a legal entity registered by the public authorities within the territory of a free zone and is not allowed to do business in the UAE. Registration of UAE offshore company offers numerous advantages:
- 100% of shares can be owned by a UAE non-resident, and, unlike for a local company, no sponsor is required;
- the UAE is not in FATF black lists;
- confidentiality: the UAE is not a member of OECD, so the government is not obliged to exchange information with other countries. Moreover, public state registers do not disclose information about company directors and shareholders. Such an information can not be disclosed even in case of an official inquiry;
- affordable costs of bank services and transactions;
- reasonable registration price (as compared to other company types);
- no income tax;
- no limits on capital and profit exports;
- no requirements to charter capital size;
- no need for annual audit;
- possibility to open an offshore account in the UAE which has a high safety level;
- possibility to buy real property in the UAE (JAFZA offshore only);
- no need to submit financial reports.
If you plan to open an offshore company in the Emirates — contact our specialists. You do not need to go anywhere, spending your time and energy. All you have to do is to contact us! Offshore company setup in the UAE will take 1 working day.
UAE offshore company: restrictions
Registration of an offshore in the UAE is relevant if the company’s operations will be carried out outside of the UAE, and if there is no need in double taxation treaty. Moreover, there are some important restrictions applicable for such companies.
- Conducting business only outside of the UAE, prohibition of cooperation with local companies within the territory of the country, but a possibility to buy shares of local and foreign companies.
- You can set up an UAE offshore company is the following free zones: Jebel Ali Free Zone (JAFZA), Ajman Free Zone and RAK Investment Authority Free Zone (RAKIA).
- UAE offshore company can conduct any activity permitted by the state legislation, apart from insurance and banking.
- Registration of an offshore in the UAE does not provide a residence visa.
- Office rental is prohibited.
- Offshore company Jebel Ali free zone allowed owning real property in the country, but the list of prohibited activities also includes consulting.
For those who want to obtain a residence visa, tax certificate, as well as to conduct business within the territory of the UAE, opening a company in a free zone would be the best option.
Despite the restrictions, UAE offshore companies are widely used in international trade and deals. Our specialists can provide you more information.
Opening an offshore account
Opening and management an offshore account is an integral part of registering an offshore company in Dubai and the other Emirates. You can open a bank account for an international business company both in a local and external bank outside the UAE. Please note that not all banks in the Emirates cooperate with offshore companies. Our specialists will advice you a suitable bank and will help you with this challenging procedure.
Certified experts of S.H Business Adviser will help to open an offshore in the UAE easy and fast. You only need to contact us via the phone numbers, Skype, WhatsApp, Viber, request a call-back or send an online inquiry. Our specialists will provide you an extensive consultancy, answer your questions and advice you the best solutions according to your special needs in order to ensure stability and success for your business.