Offshore Company Formation in UAE

The word "offshore" is mainly based on executing, managing and operating in foreign countries with financial, legal and tax. UAE provides in “offshore company formation in UAE”. So the offshore company formation is the process in which the company operates or managed out of the country in which it is registered or out of the country, in which owners and shareholders are residual. UAE provides in offshore company formation in UAE. Benefits of “Offshore Company Formation in UAE” 1. Exemption from Corporate Taxes: At present there is no personal tax or corporation tax imposed or not at the level at Emirates,, such as oil and foreign banks. However, the Municipal fees and duties are imposed in relation to certain special commodities, such as liquor and tobacco and this freedom from tax will be equally applied to offshore companies. 2. 100% Foreign Ownership: The International Companies Regulations require no local shareholding in an offshore company as opposed to the companies involved in the mainland of the UAE, which require mandatory local shareholding.

Therefore, individual investors or individual or corporate entities may own 100% share equity. 3. Simple Registration Procedures and Cost Efficiency: The registration process is simple and expeditious and can be completed within 3 to 4 working days. Incorporation costs are relatively low as compared to other entities involved in free zones or mainland of individual emirates. 4. Low Operational Costs: Offshore Companies are not subject to any registration conditions regarding the lease of premises, the provision of guarantees and staff of staff. The Offshore Companies may conduct the offshore company business through the registered agents such as Law Firms and Accountants, by the registrar and through which communication with the company can be maintained. 5. Share Capital: There is no requirement for any share capital, although the registrar may require that the paid up capital of the company commensurate with its proposed activities. 6. Transferable Shares: Shares in offshore companies are easily and freely transferable by a written instrument. 7. Limited Liability: The liability of an offshore company is limited to their share in the capital of the company. The regulation requires that the name of the offshore company will end with "Limited". 8. Other Benefits: An Offshore Company Building in UAE can be used for international trading, asset protection, acquisition of real estate properties in the designated areas of the UAE, holding, becoming partners and acquiring shares of the other companies, trust funds etc. . Capital requirement is only symbolic. Identity of beneficial owners will be kept confidential by law unless the criminal activity suspends. An Offshore Company may open an account in the UAE bank / s and operate such accounts.

The offshore company also has the option of choosing the governing law, either the UAE Law or the law of the applicant country. Restricted on the activities of Offshore Companies 1. The activities under the rules of expressly forbidden are banking, insurance and financial services. The Authorities should have the power to add other activities to the list of prohibited activities. 2. The UAE Offshore Company is not allowed to allow the Regulations to carry out any commercial operations within the UAE. 3. Own an interest in real estate property situated in the UAE except in the designated areas of the UAE as approved by the authorities. “Offshore Company Formation in UAE” - Exceptions 1. Offshore Companies can own or rent real estate properties in the designated areas of UAE or any other real estate by the Ras Al Khaimah Free Zone Authority. An Offshore Company wants to conduct a business or other business within the UAE free zones, or other places in the UAE, must obtain a licensed license from the competent authorities. This exception to the rule will enable an offshore company to pursue business or business in the UAE to formulate or participate in a subsidiary in a UAE Free Zone or onshore UAE and then in compliance with the UAE business in compliance with the Licensing rules. “Offshore Company Formation in UAE” - Requirements Offshore Company formation UAE process is one or more people, which are either natural or juristic, initiated by a signed application form to the registrar of offshore companies, along with relevant prescribed supporting documents. It is sufficient to state that the object of the offshore company is involved in any legal proceedings or activity for which offshore companies may be under the rules. The information required on an application form should include the full names and shareholders of the shareholders, the number of shares which are proposed by them to be held and the shareholdings value. In addition the names and addresses of directors (minimum 1 director shall be nominated, shareholders may be nominated as any other person / person to act as Director / s of the company), name and addresses of the registered agents and any other particulars that the registrar may require. The application form should also be accompanied by the offshore company's proposed memorandum and articles of association. In addition to the application for registration of the offshore company and the proposed memorandum and the association of association, the following documents are required to submit to the Registrar: 1. Individual applicant: • Personal profile of the applicant. • Passport copy of applicant. • Bank reference letter. • Proof of residence (utility bills like water / electricity bill evidencing the address of the applicant) • Director's passport copy. (Shall be one director minimum, shareholder can also be director) • Power of Attorney on favor of our office to pursue the incorporation process. (Draft will be provided by us) notarized and legalized to the UAE Embassy / consulate in the country of execution. 2. Corporate Applicant: • The Certificate of Registration of the Company is legalized and attested by the UAE Embassy / Consulate in the country's origin. • Certificate of good standing of the company is legalized and attested by the UAE Embassy / Consulate in the country. • The Memorandum and Articles of Association of the Company (Applicant Company) are legally valid and attested by the UAE Embassy / Consulate in the country. • Bank Reference letter. • Board resolution calling for the establishment of an offshore company, appointment of directors (minimum one director) and the appointment of our legal representative as a legal representative of the United Arab Emirates Embassy / Consulate in the country. Upon submission of all the required documents and payment of the prescribed fees, the registrar issues a certificate of incorporation evidencing the incorporation and also allocates a registration number to the offshore company.

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