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Pro services in Dubai offer many options for entrepreneurs looking to start a Offshore business. There are many options for entrepreneurs in the UAE. You can either do New Business Setup in UAE coast or start a business within a zone that is free with >Pro Services in AbuDhabi.
The first two options may be more popular, but offshore company ownership offers incredible tax efficiency and confidentiality. If you're looking for a company to own property, shares, or other assets, read on:
There are seven benefits to setting up an offshore business in Dubai, UAE
In many ways, offshore companies are different from regular UAE businesses. Offshore companies are not allowed to do business in the UAE. They are mainly used to buy real estate or hold shares in other companies.
While offshore companies are limited in their use, they offer many advantages for Dubai residents.
1.Confidentiality
Helping to keep your business transactions private.
Offshore UAE companies are not required to publish financial information or the details of shareholders. Most jurisdictions won't share this information with third parties, such as the government and legal authorities unless there is a danger of terrorist or criminal activity.
Offshore company owners may appoint nominee shareholders who will handle official documents to ensure even greater confidentiality. The nominee issues power of attorney to the owner.
2.Greater tax efficiency
This is a simple way to lower your tax burden.
Offshore companies are a great way to reduce your tax burden legally. These businesses are eligible to benefit from the UAE's 0% income tax rate and full exemption from capital gains, customs, VAT and withholding taxes.
Double tax treaties have been signed by the UAE with more than 100 countries. This means that shareholders from other countries do not need to pay UAE tax on their UAE income.
3.Protection of assets
Protect your holdings from lawsuits and other threats.
Companies offshore in the UAE may hold real estate, stock, and securities without being identified outside of mainland jurisdictions.
This corporate structure is a strong legal wall that protects assets and holdings from third-party adversaries and legal obstacles. This can be an effective way to prevent frivolous lawsuits for individuals and businesses with high net worth.
4.Bank accounts in UAE
Get access to the world-famous banking sector of the UAE.
UAE offshore companies can open multiple bank accounts in the country with local and international financial institutions.
This allows the company to send and receive money to and from individuals and businesses around the globe. The company has access to one of the most trusted and reliable banking infrastructures in the world, regardless of where they have assets.
Bank accounts are usually opened in eight weeks depending on your specific needs.
5. Rapid and efficient formation
Start a business quickly, at a low cost and with minimal effort.
Offshore companies do not have to be registered and are therefore not required to acquire physical premises. They can also be formed with one shareholder. This makes the process fast and simple.
A UAE offshore company can often be created in three to seven days.
6.Administration is easy
Easy maintenance means minimal reporting requirements.
Offshore businesses have lower running and maintenance costs than other types of companies due to the lack of financial auditing.
Administration costs are low because there is no need to issue share capital or attestation of corporate documents. AGMs are easily held around the globe so there is no need to travel for them. This makes it easy to manage the business with minimal man-hours.
7. Keep your control
You own 100% of your company without any outside influence.
Foreign entrepreneurs can own 100% of UAE offshore companies without the need to partner up with local agents or stakeholders. You can run your business like anywhere else in the world, without any interference from outside. If you need local assistance, you can partner with any local shareholder or agent.