Dubai, the heart of the United Arab Emirates, has always been one of the most visited cities in the world. Be it tourists or business professionals; the city holds numerous benefits for everyone.
Over the years, Dubai has uplifted the business environment as it allows foreign nationals to come ahead and set up their company.
Be it onshore or offshore company formation, the ground of Dubai is a favorable tax-haven jurisdiction widely chosen by business investors.
This guide will highlight the essentials that one must know before setting up an offshore company in Dubai.
Offshore Ground in the United Arab Emirates
With the continuous spike of the offshore industry, the Government of Dubai has also infused the concept of offshore company incorporation that allows numerous business investors to come forward and invest.
The three significant grounds in the United Arab Emirates that provide offshore business opportunities to global business investors are Ras-Al-Khaimah (RAK), Ajman, and JAFZA (Jebel Ali Free Zone Authority).
All three grounds provide numerous tax benefits to business investors.
To understand more regarding the tax benefits, have a look at our latest guide on What are the Tax Advantages of Starting an Offshore Company.
Documents Required to Set Up an Offshore Company in Dubai
The documentation plays a significant role when it comes to the establishment of an offshore company in Dubai, United Arab Emirates. The list of documents required for individual shareholders and corporate business entities are highlighted below:
Documents Required for Individual Shareholders
For an individual, one needs to submit the following set of documents to the authorities:
- Notarized passport copies of the shareholder
- Address proof of the shareholder
- Original bank reference letter
- CV of the shareholder
- A list of suggested names for the offshore company (3-5)
- A list stating the activities to be performed by the offshore company
- Complete details for the beneficiaries
Documents Required for Corporate Entity Shareholders
In case of a business entity plans to open an offshore company in the UAE, the following needs to be presented:
- Trade license
- Certified copy of company incorporation certificate
- Certified copy of the memorandum of association
- Certified copy of the articles of association
- Passport copies for directors, shareholders, and secretaries of the company
- Parent company’s certificate of good standing
- Incumbency certificate of the parent company
- Any other documents requested by the registrar
How to Set Up an Offshore Company in Dubai?
Now, to proceed towards the incorporation of an offshore company in Dubai, one needs to go through the following process.
- The first step is to get along with a certified business consultant who can understand the complete business needs and help you in completing the legal proceedings. Business Setup Worldwide, an accredited business expert, can provide you with tailored solutions suiting your business needs.
- Once selected, a business advisor will be assigned accordingly, who will assist you in the complete process.
- Next, you need to submit the basic set of documents to the business advisor.
- Upon submission, it will be presented to the relevant government authorities that will undergo the verification process regarding the authenticity of the documents.
- After complete verification, approval will be issued accordingly.
- The next move is to proceed with the opening of an offshore bank account to perform the business transactions at ease.
To know more regarding the offshore company incorporation process in Dubai Offshore, have a look at How to Set Up Dubai (JAFZA) Offshore Company.
So, by now, you have got a complete idea regarding the offshore company setup process in Dubai. Numerous reasons provoke business investors to open an offshore company in JAFZA. For more information, here’s a guide on The Core Reasons to Start a Business in JAFZA.
In the next stage, you need to take an essential move that would lead to company incorporation. It is advised to go ahead with the help of business experts who can help you to deal with the legal proceedings at ease. Are you wondering why?
Well, here’s a guide on the Core Reasons to Select an Offshore Business Consultant that will help you to understand the benefits that you can derive.
We, at Business Setup Worldwide, understand the complexities that one needs to undergo while starting an offshore business in Dubai.
Our business experts are well-versed with the business setup proceedings that need to go through while proceeding towards an onshore as well as an offshore jurisdiction and can help you to start one in an error-free way.
If you are looking forward to investing in an offshore company in the city of Dubai, feel free to have a word with our business experts.
Contact us today; we’d be glad to assist!