Offshore Business formation in Dubai

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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HLB HAMT - Audit, Tax, Accounting and Business Advisory

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Varun R Chandra

07:38 25 Apr 21

HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.

Giuseppe Assi

06:20 31 Jan 21

I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more

Mohamed Sheriff

16:16 28 Jun 20

Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more

218141 JOSEPH THOMAS

16:20 23 Jun 20

Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more

PMI

07:14 23 Jun 20

In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more

RAVI CHOKSI

08:28 21 Jun 20

Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more

Maharajan Subramaniam

18:17 06 Jun 20

High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more

Mohammed L

08:07 05 Jun 20

We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more

ROY ROSHAN VIVIAN

06:32 04 Jun 20

Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more

Basil Daniells

05:55 03 Jun 20

I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more

Amar Kashyap

19:28 02 Jun 20

Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more

Radz de Jesus

16:03 02 Jun 20

We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more

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