Month: May 2014
Scintillate your business with offshore presence
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Do you want to accelerate your earnings? Do you desire to expand your company? Do you wish to open company at a location that offers tax benefits? Or are you seeking a foreign location to open your company? Well, if your answer is YES! Then Dubai offshore company formation is one stop destination for you. Dubai is a attractive location to open offshore company. You will derive plenty of advantages right from crafting a blueprint of your company to finalizing your setup. Your business will touch new heights and you will notice new enthusiasm in your business operations.
Many smart entrepreneurs and business owners are opting for Dubai to sprawl their business. You can also join this league and crack profitable deal for your business. The Major benefit of having Dubai offshore company is that Dubai is a tax haven that is why you can grab scintillating taxation related favors for your enterprise. By having an offshore branch of your company in Dubai, you can clinch over international market and that too with minimal investment. This commitment of Dubai certainly benefits diverse. You can achieve desired niche for your business. If you have a correct business plan and courage to work for that plan than Dubai will embrace you.
Unlike other places, Dubai allows 100 % foreign ownership facility for offshore company owner. Yes! To open Dubai offshore company, there is no such bond that you have to be a citizen of Dubai. You just need to have valid visa documentations and you will get sheer ownership for your company. You can run your business according to your plan and prospects, no one will create hurdle in your work.
Tax benefits that Dubai offer to offshore company owner is immense. This country offer zero corporate tax imposition on offshore companies. It implies there is no need to pay corporate tax. Additionally, you need not to pay any income tax and custom duty charges. By saving these itsy-bitsy amounts you can contribute a lot in your gross earnings. Hence, you can earn more profit.
In order to open an offshore company in Dubai, you do not have to sign any tax information exchange agreement documentations with another country. It clearly means that investors earning from Dubai branch can be the entire profit centre. You are even not required to maintain public record of shareholders and directors. Who is investing money? How much profit you made? And what amount of funds you invested? This information remains hidden from everyone. You are not liable to answer these questions to anybody.
There is no bureaucratic red-tape in Dubai. So you will get steep flexibility in conducting your business processes in Dubai. And there is strong legislation in Dubai, which protects the confidentiality of investors; also you can easily recruit staff including the possibility to get facility to recruit foreign staff in your offshore branch. Availability of human resources makes it really very easy for you to bring your company in action. From qualified engineers to workers and from management staff for accounts, expert you will get every kind of human services there, and that too in abbreviated price.
Another advantage of opening an offshore company in Dubai is that you will get all modern amenities. Grand hotels, parks, buildings, malls and real estate create favorable circumstances for opening Dubai offshore company. In case you have any doubts or queries regarding accounting, auditing, banking or financial sector of Dubai. You can take help of consulting and advisory firms like us who will help you out!
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Offshore Business formation in Dubai
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Most businessmen prefer going offshore based on tax holiday concept to manage and run their business successfully. The additional benefits are freedom, secrecy and easy methods of running the business. Dubai has emerged as a place where maximum businessmen prefer to set up their offshore business as there are no taxes levied on offshore companies. The government of Dubai has also simplified the methods and procedures for setting up such offshore businesses.
The simple reason for encouraging offshore business activities are that they help towards the economic growth and also earns good amount of investments from these companies. Being an independent country is an added benefit for having an offshore business setup in Dubai. It also has an agreement of avoiding double taxation with major foreign countries. These two factors ensure that life is much simpler for such offshore companies and also gives businesses the needed environment and opportunity to grow and earn more profits out of their offshore venture.
The companies that gets registered in Dubai earns maximum profits because Dubai is known as a popular destination for its richer resources and visionary guidelines and encouragements by the Government Authorities. Brief incorporation procedures required for offshore formation also facilitate the investor to think and plan their business through offshore sector companies; it can avoid the lengthy process of completing the documents and getting it registered after attesting these documents from all the authorities of different embassies and Ministry of Foreign Affairs. The advantages of an offshore company formation in Dubai are:
- The company is allowed to have 100% foreign ownership.
- The shareholder is not required to be a Dubai resident in particular.
- Separate register is not necessary to be maintained for the list of company’s officers.
- The offshore company enjoys complete secrecy and privacy.
- The authority grants the investor a right to own real estate properties in selected areas as mentioned in the law.
- The company can open a bank account for doing the daily transaction in any currencies.
- The company gets tax exemption for all the corporate as well as income taxes.
- Restriction on foreign exchange is not imposed for these companies.
- The capital and the company’s profits are the sole responsibility of the person starting the company.
- The cost of setting up offshore business is comparatively lower in Dubai.
- No office place is required for this company and as such it doesn’t incur cost for recruiting employees.
- Physical movement of capital is not essential for incorporation.
- The minimum number of shareholder and director of the company is one.
- An approved registered agent is required for these companies.
- The location of the registered agent can either be in a free zone or locally in Dubai.
Ras Al Khaimah Investment Authority, a government sector undertaking has established an alternate offshore location called as RAK Offshore. It takes care of the socio-economic growth, encourage Dubai’s ongoing diversification program and also manages Dubai’s increasing demand for offshore companies. The rising trend in Dubai has always been real estate dealings and investments. These types of companies are registered under RAK offshore. The International business companies (IBCs) are more interested in these businesses and slowly RAK has grown its client base to around 2000+ IBCs. . The most important feature of RAK offshore is to provide complete confidentiality. The IBCs owners are assured to be kept private in the law which helps to improve the business environment for both the individual as well as the corporate investors. The services that are provided by RAK offshore include both financial and non-financial services.
Jebel Ali Free Zone Authority (JAFZA) is one of the largest and fastest growing freezones. It was established in the year 1985 and today it houses more than 6400 companies in its 18 sq. km. area out of which around 120 are Fortune Global 500 enterprises. If you are looking to open your company in a free zone this surely is your best option given the transparent operation and business guidance provided by JAFZA. It is one of the leading forces driving UAE economy and you sure are going to benefit for the same.
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Set Up Company in Dubai
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Dubai has emerged as one of the most happening places in the world of business. It is a much preferred location for setting up a new company or to expand the horizon of an existing business. It is considered as one of the best business locations in the Middle East. In recent times, Dubai has evolved as one of the places to start new business ventures and to explore double digit growth. It is the perfect place that offers easy geographical access and also access to cash rich economies. Dubai is the best place with excellent living conditions, with no tax, free lifestyles, availability of better resources and of course with many beautiful locations.
Why businessmen prefer Dubai for their business?
Our professionals are there to guide you in setting up your new company in Dubai. With so many years of experience and with thorough knowledge on the local laws, we will be happy to guide you in the way you want it. The low tax system attracts many business people from different parts of the world. Whatever may be your requirement; to set up a new company in Dubai or to expand your existing business, we are here to guide you. Be it hospitality business or construction or finance, you have every chance to flourish. The country’s affluence and success has been one of the main factors of attraction for foreign investment.
Different options for international companies
Dubai is one place that offers various options for the international business people.
- Limited Liability Company
- Partnership Company
- Share Partnership Company
- Public Shareholding Company
- Private Shareholding Company
Limited Liability Company even permits foreign company to become a shareholder. If you are planning to set up a LLC in Dubai, all you have to do is to identify a local sponsor who holds at least 51% equity in the company. With our presence here for many years, we can help new businesses to identify local partners or sponsors. . According to the rules and regulations of the local law, the foreign company cannot procure the shares of the local partner (sponsor).
Having a licensed branch in Dubai is another alternative for those who are looking out to expand their business. The foreign company should undertake the registration through a local sponsor or an agent. We guide and help you with all government matters, right from registration of license to obtaining work permits. Once you establish your branch with the help of local professionals or local sponsor you are authorized to lease offices and sponsor staff. You can legally enter into contract with other companies under your company’s name. According to the Companies Law, the established branch is not allowed to import goods.
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Company Registration in Dubai
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Dubai is considered to be one of the most secure and user friendly destinations to start up a new business. The Government of Dubai promises to give new business starters complete support and advice. The Company Registration in Dubai stipulates relevant legislations pronounced by the Government Authorities and this has to be specifically pursued to incorporate a company in the territory. One would also need to select a proper place for the business. If the plan is to set up a business in cities of Dubai, one must be aware of some legal terms and rules that govern the registration of such companies. Here in Dubai, the business is classified into:
- Free Zone:-
This type of business pertains to the companies which are owned 100% by the investor who would be apparently the owners. No agent or sponsor is necessary to manage the functioning of such companies and also no rules are specifically laid among these ventures. This business has certain add on benefits too. Along with 100% ownership, this can be set up only by one person who can also open a bank account in Dubai. The secrecy levels can be 100% with no tax and low renewal charges. It also gives the benefit of liquidating the affairs anytime. Import and export can also be conducted considering the activities stipulated in the trade license. The person has the right to hold properties also in Dubai. The free zones businesses have a right to interact with legal and financial consultants, accounts officers and any other company management which is operating its business in Dubai.
- Offshore :-
Under this type of entity the company conducts operations outside Dubai. The benefits of this type of businesses are mostly to get the local tax levied and invoice can be generated. The business can be started with zero capital and no office place is required. The rules for these companies have been set as per the international standards so it is mandatory to have one director registered. These companies also have to maintain their financial books of accounts along with issuing the financial annual report after completely auditing it by the auditors periodically. These auditors must be approved by the respective free zones. The offshore companies are also liable to hold an annual general meeting. In other words, these businesses should operate like a usual registered company. The company is obliged to strictly follow the new anti-money laundering rules. These companies can also interact with legal and financial consultants, accounts officers and any other company management which is operating its business in Dubai. They are eligible to open a bank account to take care of local dealings and transactions. If the investor wants to commence any other offshore in any other territory, then they need to obtain the license for the same from the respective authorities. There are different offshore destinations available in UAE according to the choice require by the investors. Normally the capital required is zero but AED 10,000 (USD 2,700) is normally advised to be shown as a startup amount, but no physical presence of capital is required.
The business advisors play a key role in starting a new venture. They are normally aware of the rules and regulations and can also give you a proper guidance along with the step by step method of proceeding to start a new venture. They have complete expertise in these dealings. They help you with all the paper works including visas and work permit approvals from Emirates. They also help you in opening bank accounts too for new businesses.
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Company Incorporation in Dubai
HLB HAMT
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
WhatsApp:- +971 56 219 1607
Email:- dubai@hlbhamt.com
Over the last few years, Dubai has become the hub of international business and trade, and eventually, several business communities around the globe float their business operations in the city. It is vital to note that, before plunging in head first into the process of company incorporation in Dubai, investors should have some local knowledge regarding the region, business environment and procedures first.
While new business ventures are boosted by the regional government, keep in mind that businesses in Dubai must have a local partner who holds a majority share, namely 51%. The partner can be an individual or a company, and they are not obligated to contribute financially to your business. Also they will receive a regular fee for agreeing to become your sponsor. The next step in company incorporation in Dubai is to register the company. When this is done, you will also have to show proof of funds to the Ministry of Commerce. These funds may be withdrawn once you have shown that you have the money needed to set up the business.
There are two categories of company incorporation in Dubai. The first is to set up an establishment in one of the free zones. A company set up in the designated free zones is owned totally by the person who sets it up. This means there is no need for a local partner. This type of incorporation has many advantages including, the freedom to carry out multiple activities, no tax, lower charges on renewals, may be formed by one person, easy to liquidate and you can carry out international activities. But be warned that free zone companies are not allowed to conduct business locally. So if you are considering a business like retailing, government supplies, or tourist related services like a restaurant, you will be better off registering as a local company.
The second type of company incorporation in Dubai is known as Offshore Company. In this category, , the business operates outside the boundaries of Dubai, but maintains a sub-office in Dubai. This facility is essentially utilized by companies looking for regional “tax relief- on invoice .” The benefit here is that it does not require any minimum capital; what’s more there is even no need for an actual office. However, according to the new international standards, such companies must appoint one director, maintain financial accounts, and produce financial reports that have to be audited by a professional approved by the free zone. Additionally the company must hold annual meetings. All company regulations have to be within anti-money laundering guidelines.
When starting a new company, it is best to get professional help. While this may involve certain cost , keep in mind that substantial percentage of new ventures lose track in the first five years due to lack of professional guidance. Even if you think you know your business, professionals can help by checking the market size against your potential offerings, aiding in how to deal with the competition or how to benefit from their weak points and a host of other ways.
Considering that a majority of the business in Dubai begin as small units with equity funding collected from family and friends, because bank funding is not available in the country for initial years; it is best to ensure that your business does not fail on account of finance.
Before going ahead with company incorporation in Dubai, understand your strengths, and weaknesses, find out about the opportunities and possible threats, do your homework regarding the laws of the land. Taking these precautions will ensure that your new venture starts off on the right foot and stands a better chance of success.
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