Setting up an offshore business is one of the best ways to get the highest level of privacy and confidentiality. For any individual or entity living anywhere in the world, the UAE is one best offshore company formation destinations.
If you take the approach, N R Doshi and Partners suggest, your offshore company will get started with the minimal expenditure, lesser terms, and more control.
There are a few specific offshore locations in the UAE. One can conduct offshore company formation in Dubai or any of the selected locations in the emirates.
We have decades of experience in setting up offshore companies. Therefore, you will have the ‘best in industry’ experience and results. We are well aware of the prime locations, how to fulfill different business needs, and how to minimize taxes legally.
Advantages of setting up Offshore Company
For offshore companies, it is a primary benefit that they do not need to pay any corporate taxes or any personal taxes. Therefore, it allows for earning the maximum profit. There are a few exceptions as per the law and government norms.
While starting an offshore company, owners have the key requirement of 100% foreign ownership. By taking our offshore company formation service, this requirement will get fulfilled for sure. As per the International Companies Regulations, there is no necessity for local sponsors or shareholders.
N R Doshi and Partners’ offshore company formation service comes up with best-suited options as per the company’s budget. We strive to make all your business needs to get satisfied without letting the cost cross your budget. The offshore company registration procedure is cost-effective and usually gets completed in three to four working days.
The operation costs are relatively low as there is no need for offshore companies to lease premises, employee staff, etc. One can run his offshore company in Dubai or any other emirates through registered firms.
If you are looking for acquiring another offshore company instead of starting a new one, it is facile to do so. We take care of the entire transfer process. All you need to do is provide us with the required documentation. The process is easy when done with the support of a trustworthy local firm.
There is no minimum share capital required for offshore company formation. That is one of the main advantages as companies running on a strict budget are greatly benefitted by it.
Limited liability allows investors to keep their personal assets safe and freely invest in offshore companies. Their liability will be limited to the capital share of the company.
Documents Required for Offshore Company Formation
Get On Board with Offshore
Let’s get started with your company formation!
Offshore Company Formation Procedure
The procedure for offshore company formation is shorter and easier in comparison to the procedure of setting up a free zone company or mainland company. You won’t even need to be physically present in the UAE during company formation. Have a look at the entire process:
The first step to offshore company formation is to discuss the business goals and what exactly you wish to achieve by starting an offshore company in the UAE. This will help us to decide which offshore location is the perfect fit for your company as per your business needs and business activities.
We will request you to provide us with the list of documents mentioned in the previous section. Those documents must necessarily be submitted to the registrar while submitting the application form for offshore company formation.
You need to provide us with at least three company names along with the preference. We need to provide the company name while filling the application form. If a company with the same name already exists, then the authority will select the name with the second preferred name.
Technically, the minimum share capital is $1. Therefore, there are no restrictions on share capital. However, you still need to provide us with the capital details, the number of shares, and the value of each share for the purpose of offshore company formation.
After we add the list of all the business activities, provide the documents to the authority, and fill the application, authorities conduct the screening and verification.
If all the documents are per the requirement, the trade name is as per the government guidelines, all the required info is provided, and it’s valid, your application will be approved. Therefore, the license will be provided in no time. This completes your offshore company formation, and now you can move forward with your business.
Offshore Locations in the UAE
There are two main locations: RAK (Ras Al Khaimah) and Jebel Al, offering offshore company formation facility. Both locations have their own benefits. For starting your offshore company in any of these offshore locations, you can rely on N R Doshi’s approved agents.
RAK offshore company formation is a cost-effective solution in comparison to Jebel Ali. As the company structure would be Limited Liability Company (LLC), the liability will be limited. Further, there are no restrictions on activities in this offshore location.
You won’t even need to visit the authorities for company incorporation. Our agents will take care of all the requirements. There is even no need to get a tenancy contract before incorporation.
You will be benefitted from a corporate bank account in the UAE, 100% foreign ownership, and the company can be started with one director.
Jebel Ali is a prime business hub as there are free zone companies as well as offshore companies. Jebel Ali also provides access to its shipping port, which is one of the largest in the world. The majority of offshore companies in Dubai are operated from here.
There is no requirement of paying the corporate tax, income tax, or any personal tax. When you start your offshore company here, you won’t need to have any minimum capital amount. However, you would require keeping the accounting records and conduct the statutory audit.
Why N R Doshi and Partners?
N R Doshi and Partners is one of the most reputed firms providing offshore company formation services to companies of different sectors.
In our experience of three decades, we came across unique requirements for offshore company formation. There were individuals belonging to different nations, owning quirky businesses, and required optimum privacy and anonymity for whom we provided our service.
Besides offshore company formation service, we also provide free zone company formation and mainland company formation services. Some of the businesses that took benefit of one company formation service chose us for another one as well.
We even supported companies by providing high-grade accounting, auditing, and VAT-related services. We even worked on improving the internal controls of offshore companies to maintain high-security standards.
- Excellent knowledge of various offshore locations of the UAE.
- Advanced-level experience in setting up offshore companies in different sectors.
- An expert team of individuals who are well aware of the UAE laws and regulations regarding offshore company formation
How many directors are required for offshore company formation?
The number of directors varies as per the offshore location. For Jebel Ali Offshore Company, there is a need of two directors, whereas you only need one director for RAK offshore.
Is it necessary to have a local sponsor for starting an offshore company?
No, you can have the complete ownership of your offshore company. Hence, there will be no need for a local sponsor.
Get On Board with Offshore
Let’s get started with your company formation!