Here’s all you Want to Know About Offshore Company Setup in UAE

Namitha Aiyllath

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HLB HAMT - Accounting Firm in UAE
Phone:- +971 4 327 7775
Mobile:- +971 55 160 1291
Email:- dubai@hlbhamt.com

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    Many service providers are there who provide competitive offshore packages such as hiring local employees, services for operating your business, renting of office space, entering into agreements, selling goods and company services, taxation and banking advice, offering investments and preparing contracts. As per the law of UAE, the offshore incorporation requires an agent who acts as a link between the local government and the newly formed offshore enterprise.

    The features and regulations for Offshore Business Setup in UAE:

    • At least one director and shareholder is required
    • The company’s capital can be any sum divided into any denomination
    • From the list of registered agents maintained by UAE Free Zone, a registered agent should be appointed by the Company.
    • On UAE offshore incorporation companies, 100% tax and duty exemption is present and 100% foreign ownership is permitted.
    • You can open a corporate bank account in the state.
    • In the UAE Free Zone, the offshore address is located.
    • Only in the case of doubt, audited financials will be asked for.
    • To incorporate the company, the investors are not needed to visit the authority. But in the registered agent’s office, the documents should be signed.

    In spite of the changing financial policy of offshore companies, the offshore companies in UAE guarantee a high level of privacy and secrecy of your business. In the recent times, the Arab Emirates have not made any contracts on the revelation and exchange of confidential information on offshore companies. This thing offers definite benefits for an offshore company in Dubai, UAE. These things attract a number of investors here who want to register an offshore company in Dubai and other Free Economic Zones of UAE.

    The advantages of offshore company registration are mentioned below:

    • For business activity performed outside UAE, no tax is levied
    • The Memorandum of Association and other documents linked with the company are verified by the registrar.
    • Minimum 3 and maximum 7 days are required for offshore company registration in Dubai, UAE
    • Every registered offshore company must have an official registered company’s address as well as the registered agent.
    • One can enjoy a higher level of confidentiality, information on shareholders and directors are not disclosed
    • At least one director is mandatory, but their number and residency is not restricted
    • 1 owner and shareholder is compulsory for the registration. The shareholder’s place of residency and his citizenship have no restrictions barring the countries that are authorized as per the international rules set by international organizations.
    • The shareholder of the company is authorized to run the company.
    • No audit is required

    If you want to register your company in UAE, remember that it requires a detailed verification of documents and preparation of documents.
    So, if you are interested in setting up an offshore company in UAE, you should take help from the business advisors who can help you to save time and reduce costs of offshore company registration considerably.

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    Essential Procedures to be Followed for Company Formation in Abu Dhabi

    Paul Varghese

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    HLB HAMT - Accounting Firm in UAE
    Phone:- +971 4 327 7775
    Mobile:- +971 55 160 1291
    Email:- dubai@hlbhamt.com

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      Abu Dhabi is the largest commercial centre of UAE. Being the capital of the country, this city is a home to numerous companies that are actively operating in different industrial sectors. Hence, businessmen and investors, looking forward to establishing a new business or open a new branch of their existing business on a foreign land, prefer Abu Dhabi. However, the company formation process in Abu Dhabi can be confusing for an inexperienced person who is unaware of the legal procedures to be followed in this regard.

      Important steps to be taken for company formation in Abu Dhabi

      • First of all, to ensure that things go smoothly, it is important to avail the services of a well-known business consultancy firm operating in Abu Dhabi. The consultancy firm will guide and support you at every step for the successful company formation in this city. However, you should go through all the terms and conditions of the chosen consultancy firm before signing any legal contract with them.
      • A clear outline of the business plan should be drawn by the company owner, specifying the nature and the aim of his company formation in Abu Dhabi along with the definite business procedures and future plans for the betterment of the company.
      • Next, the company needs to be legally registered for getting a proper trade name. As there are different categories of commercial organizations that are registered in Abu Dhabi, it is necessary to identify the exact type that will fit the nature of this company. Reason (s)? The legal rules are different for different business categories here. The business consultancy you’ve hired can better help you in this matter to bear the legal responsibilities of the most appropriate category.
      • The business consultancies in Abu Dhabi help their clients to get their trade names registered in the Department of Economic Development with which they can easily set up their businesses in this city.
      • The foreigners need to get the initial approval for running their businesses in Abu Dhabi from General Directorate of Residency and Foreign Affairs. This certificate of approval is mandatory for getting the trade license as it denotes that the particular foreigner is legally allowed for carrying out his business activities in this country.
      • Finally, the trade license has to be obtained from the concerned licensing authority as per the nature of the business. Your business consultant will help you to approach the correct department with all the necessary documents including the signed application, certificate of initial approval, trade name certificate, and other relevant documents for identity.

      Therefore, hiring business consultants for company formation helps business owners to establish and successfully run a business in Abu Dhabi. The benefits offered by the UAE government to overseas business persons are quite encouraging. This is why many businessmen consider setting up their offshore business in Dubai and Abu Dhabi

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      Why Get The Accounting and Bookkeeping Services of a Company Outsourced in UAE?

      HLB HAMT

      HLB HAMT - Accounting Firm in UAE
      Phone:- +971 4 327 7775
      Mobile:- +971 56 147 0259
      Email:- dubai@hlbhamt.com

        Get Free Consultation




        A lot of companies these days are outsourcing the bookkeeping services of their organization in order to ensure that they are managed in the best way possible. Most people are of the opinion that outsourcing the bookkeeping services only helps in cutting cost as that ways an organization does not need to maintain a full-fledged team for accounts. However, apart from this, there are several other benefits which companies can avail:

        • The biggest advantage of outsourcing the accounting services of a particular company is that it helps the organization to maximize their returns by focusing on their core competencies. The time that is normally spent by the organization to deal with their accounts is saved and therefore, this valuable time can be used to grow their organization. The employees of the particular organization can spend time in marketing their products and services, thus increasing the overall profit of the organization. The time that you would have actually spent in dealing with the accounting services of the organization, can actually be utilized for doing some other work which will benefit your business.
        • An organization has to face a lot of problems in case the accounting employees suddenly leave their job without completing the tasks assigned to them or properly handing over the work to their counterparts. However, if they outsource this work, then they do not have to bother about any such thing because the entire responsibility of the accounts is on this company and it is their duty to have proper back up so that work does not suffer.
        • Outsourcing the accounting services helps you to get very good quality work. The company which handles all of your accounting work hires accounting professionals, who have the required expertise to manage and update the accounts and as a result will be able to deal with the accounting services of your organization in the best possible way.
        • You are also able to save a lot of money by outsourcing the accounting services of a particular company because; you do not have to pay wages to the accountants separately, all that is covered in the fee that the management company will charge. You also do not have to pay the employee benefits and the incentives to the accountants, thereby saving a lot of money in the process.

        When hiring the services of a bookkeeping consultant, it is important that you hire the services of a company, which has a good reputation in the market. A reputed company will help you to get the best of services at an affordable rate. A reputed accounting and advisory company will have a group of professionals who are very qualified in the field of accounting and as a result will be able to deliver good quality service. They ensure that they are able to deliver consistent and seamless services whenever required. These companies that provide your organization with accounting and bookkeeping services are also flexible enough with their processes and offerings, so it is never difficult for them to adapt to the changes within the organization.

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