dubai offshore company formation 

By | July 8, 2015
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Dubai Offshore Company Formation

Dubai Offshore Company Formation

Dubai offshore company formation is a real first step to form a company in Dubai as it is one of the best methods for asset protection and tax optimization. Jebel Ali Free Zone Authority is the supervisory authority for Dubai Offshore company incorporation. The authority of the free zone allows and guides the offshore company formation in Dubai (within the Free Zone).

Dubai Offshore Company Formation

The offshore company formation in Dubai can be appropriately used as an investment company, real-estate holding company or holding company. Dubai offshore company registration can also be used for further investments in local business or Free Zone business and for international trading activities.

An individual customers or corporate entities cannot incorporate an offshore company in Dubai directly with Jebel Ali Free Zone Authority. Only a register agent approved by the Authority are allowed to offer services to clients for Dubai offshore company formation, registered office and for acting as agents for offshore companies. On the other hand, clients can also go to the sub agents of such registered agents for Dubai offshore company formation.

Advantages Offshore Company Formation in Dubai

Offshore company formation in Dubai offers similar advantages as other offshore company jurisdiction offers, but Dubai also offers some extra benefits that are unique to Dubai. Some of them are listed underneath.

  • Tax optimization through offshore company registration in Dubai.
  • Asset holding through offshore company formation in Dubai.
  • Asset protection through offshore company incorporation in Dubai.
  • Trade financing.
  • Succession planning.
  • Trading in high risk instruments.
  • Ship and aircraft registration.
  • Security.

Features of offshore company formation Dubai

  • Limited Liability Company (LLC).
  • Bearer shares are not allowed.
  • It must have an approved registered agent either within the Free Zone or in the state of Dubai.
  • Issue of shares of only one class allowed.
  • It requires appointing of shareholder, Directors, Manager and Secretary.
  • It has requirement to have accounts audited on annual basis.

Activities of Dubai Offshore Company incorporation

  • Dubai offshore companies are permitted to have bank account in the UAE.
  • Dubai offshore companies are permitted to have contacts with lawyers, accountants, legal consultants and auditors.
  • Dubai offshore companies are allowed to held directors and shareholders meeting within the UAE.
  • Dubai offshore companies are allowed to act like corporate shareholders in a new or existing Free Zone company or in a mainland company.
  • Dubai offshore company incorporation can carry out international trading.

Reasons for Dubai offshore company setup

  • There is no personal income tax or corporate income tax on a Dubai offshore company.
  • No requirements of capital for Dubai offshore company formation.
  • Dubai offshore company registration builds a good image of the entity to its clients.
  • Good secrecy and security for a Dubai offshore company formation.
  • There is no public register of directors and shareholders.
  • Dubai offshore company formation is easy to incorporate and free of troubles.
  • Offshore companies setup in Dubai can get an offshore account in Dubai.

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Activities restriction of Dubai Offshore Company

  • Through Dubai offshore company you cannot carry any business with the UAE.
  • Dubai offshore company cannot own an interest in real estate property located in the UAE, other than freehold area.
  • Dubai offshore company cannot conduct banking business.
  • Dubai offshore company not allowed doing business as an insurance company, insurance agents or insurance brokers.
  • Carry on any other business which may, by regulations be prohibited by the authorities.

Dubai Offshore Company Registration | How to register an offshore company in Dubai?

Offshore company formation in Dubai is controlled and watched by Jebel Ali Free Zone Authority. Jebel Ali Free Zone is the leading Free Zones in the world. The Free Zone oversees all the offshore company formation processes in Dubai.

Clients, who want an offshore company formation in Dubai, need to go through the registered agents of JAFZA to proceed with the company registration process. It is important to know that the clients cannot reach out to the JAFZA authority directly for Dubai offshore company incorporation. Clients have the option to contact these agents directly or their sub agents. The JAFZA agents generally offer company formation services such as business consultancy services, legal services, auditing services etc. Cost of offshore company formation may vary subjected to the agent you are dealing with and the type and quality of services you may require.

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