Dubai Offshore Company Formation
When it comes to creating an offshore company in Dubai, you should be well informed about the details of the legislation which regulates
Dubai offshore companies (DOCs). It was enacted in Jebel Ali Free Zone in Dubai in 2003 and to enable a safe and secure environment for investors without the levels of unnecessary privacy intrusion and bureaucracy found in other offshore jurisdictions.
The major aspects of this legislation are as follows:
Taxation: DOCs do not need to pay any forms of taxes on profit, capital gains or anything else in Dubai.
Shareholders: DOCs may have a minimum of one shareholder.
Directors: At least two directors are required. Directors need to register at the Registered Office but it would not be shown as a public record.
Annual Reporting: No annual report or accountings is required to be filed. Accounts must be audited and distributed to shareholders but not filed with any of the authorities. DOCs may maintain their accounting records wherever in the world the directors deem appropriate.
Names and Activities: Company names must end with "Limited". Keep in mind that the following words and their associated activities are prohibited: Banking, Insurance and Re-insurance. Local Requirements: DOCs must maintain a local Registered Agent approved by the local authorities and a local Registered Office which the Registered Agent provides.
Minimum Capital: A DOC can freely decide on its own minimum capital without any requirements.
1. "Application for registration offshore company" application form to be correctly.
2. Memorandum of Association & Articles of Association to be completed correctly. Donít forget that you must have at least two Directors for the company.
3. Short Curriculum Vitae.
4. Passport copy of Directors and notarized by a bank or lawyer
5. Each Shareholder / Director should produce a recent bank reference
Lastly, it might take some time to understand the confusing procedures and you might probably wonder whether the benefits outweigh the fuss. In fact, many people use an offshore company to trade internationally and use such a structure to buy or maintain real estate at home. Additionally, they have taken advantage of this structure by protecting their assets and slash tax burden.
If your company needs staff which you need to relocate overseas, you can use such a company structure to employ these staff to make the most of any taxation advantages. You would enjoy more benefits especially if youíre in the internet based business because there are certain significant potential advantages available to you through the use of a properly structured and located offshore company.
There are over hundreds of locations in the world that are considered 'offshore' because of the nature of low or no taxation jurisdictions. However, not all of the countries are really secure and not all of the jurisdictions are legitimate. Therefore, Dubai is undoubted the perfect country to incorporate your offshore company.