Offshore Companies
UAE is one of the well-known jurisdictions in the world for incorporating offshore companies as “tax-free” business territory. Especially because one can avoid the cumbersome process of having the offshore incorporation company documents attested by various embassies and Ministries of Foreign Affairs. The offshore companies are based out of an offshore jurisdiction within the United Arab Emirates and can conduct business with all other parts of the world apart from UAE. The company is allowed to hold assets within and outside the United Arab Emirates and are allowed to bank with banks in UAE and outside.
Why set up an offshore company in Dubai?
- Complete foreign ownership is permitted
- Own real estate properties in approved areas by the Authority
- Hold multi-currency bank accounts
- Exempted from all corporate and income taxes
- No foreign currency restrictions
- 100% repatriation of the profits and capital
- Low setting-up costs
- Minimum or no capital is required to set-up offshore company
- UAE has Double Taxation Avoidance Agreement (DTAA) with several countries
Offshore companies can be formed only through the “Registered Agents”, located either in the free zone or UAE and approved by the respective authorities.
VSP Auditing Associates is a registered agent for JAFZA Offshore, RAKICC Offshore and Ajman Offshore and offer offshore company formation services and services as registered agent.
