Why Set up a Dubai Offshore Company?

In our professional opinion, a Dubai Offshore Company is an excellent corporate structure because:

  • A Dubai Offshore Company is tax-free;
  • A Dubai Offshore Company portrays a good image to your Clients and suppliers;
  • There is no public register of shareholders and directors;
  • A Dubai Offshore Company is quick to incorporate.

However, our Clients should note the following:

    • A Dubai Offshore Company is not permitted to trade in the United Arab Emirates (UAE);
        • Dubai Offshore Company cannot rent local premises in the UAE;
        • A Dubai Offshore Company must submit audited financial statements annually to the Dubai Government.

Dubai Company Formation? Yes, thanks to the new EU directive takes effect Dubai is becoming the better place incorporate your offshore company.

Dubai looks set to reap the rewards of a recent EU ruling under which banks are now forced to reveal information to tax authorities.

The EU Savings Directive, which came into effect on July 1, obliges financial institutions in all EU member states to either disclose tax and bank information to the relevant tax authority, or charge clients a hefty withholding tax.

Though the new directives will specifically affect EU residents, a number of banks in ‘tax havens’ have also agreed to exchange customer information, including Jersey, Guernsey, the Isle of Man, the British Virgin Islands, the Cayman Islands, Switzerland, Liechtenstein, Monaco and San Marino.

The reputation of discretion for some of these countries is being eroded. Since July 1, in order to keep details of their wealth private, bank customers now have the option of paying a withholding tax which will be levied directly in the country in which their savings are held. This will be charged at a rate of 15 per cent for the first three years, 20 per cent for the following three years, and 35 per cent from 2011 onwards.

Dubai has long enjoyed a reputation as a secure, tax-free jurisdiction for international banking and company incorporation. With this latest development from Europe, Dubai company registration and corporate and personal banking options are becoming more popular with international businesses and high net worth individuals.

Since Dubai is neither a signatory to this directive, nor agreeing to cooperate with the Organization of Economic Cooperation and Development (OECD), it looks set to gain even further.

Type of entity
Limited by shares
Type of law
Incorporated under the Offshore Company Regulations 2003
Government Fees
Subject to change
Corporate taxation
Nil
Double taxation treaties available
No
Share Capital
Usual currency
AED
Minimum paid up
AED 1
Directors
Minimum number
2
Local resident required
No
Corporate Directors permitted
No
Records publicly available
No
Location of Meetings
Anywhere
Shareholders / Members
Minimum number
1
Corporate Shareholder permitted
Yes
Records publicly available
No
Location of Meetings
Anywhere
Company Secretary
Required

Yes

Local or qualified
No
Accounts
Required
Yes
Audit required
Yes, by an auditor from the approved list
Filing required
Yes
Publicly available
No
Other
Annual return required
No
Change of domicile permitted
No
Services
The UAE economy is clearly divided between the onshore sector, dominated by local business interests, with restrictions on foreign ownership, and the offshore sector which consists of a number of Free zones. ADAM Global is a professional company based in Dubai specializing in company incorporation services in both of these sectors. For over 5 years our professional business advisors have been providing a comprehensive range of services to individuals and corporates around the world, adhering to the highest international quality standards and in full compliance with the existing rules and regulations to incorporate your business and get you set up in Dubai, UAE or GCC. The company has a reputation as a reliable and competent service provider in Company Registration – Professional, Commercial and Trade. Business Incorporation – Limited Liability Company Formation, Joint Ventures, Branch Offices, Representative Offices, General Partnership Company, Partnership-en-commendam, Public Shareholding Company, Private Shareholding Company, Share Partnership Company.

      • Business set up in UAE Free Zones
      • Home Business set up
      • Business Legal Structures, Documentation and Agreements
      • Company Name Selection
      • Office Rental, Purchase, Virtual Office Services and Employee Accommodation
      • Corporate Bank Accounts
Companies approved for operation in Jebel Ali Free Zone or Dubai Airport Free Zone, are granted one of the following types of licenses: Trading; Industrial; Service; or National Industrial. These licenses are renewable annually for as long as the company holds a valid lease from either of the Free Zones. Trading licenses will be granted to companies holding a valid license issued by the Dubai Economic Development Department or an equivalent authority in the UAE, and to companies incorporated outside the UAE. In each case, the permitted activities on the Free Zone license must conform to those on the existing license. Trading licenses are also issued to Free Zone Establishments (FZE). Industrial licenses are issued to companies incorporated outside the UAE and to Free Zone Establishments. Service licenses are only granted to companies holding a valid UAE license. National Industrial licenses are issued to industrial companies registered within or outside the UAE, provided they meet the conditions of having at least 51% AGCC equity and their local production accounting for at least 40% value added. Such companies must obtain provisional approval from the UAE Ministry of Finance and Industry. A National Industrial license grants its holder the same rights as those of national and other AGCC companies, and products exported to AGCC states will be exempted from custom duties.
ADAM Global Business Advisors are offshore entities incorporation specialists. Established since 2002 in UAE and in London since 1998. We strictly follow international code of professional conduct. We are the authorized registered agents with the Government of Dubai and Ras Al Kahima for the incorporation of offshore companies. We undertake company setup in all offshore jurisdictions Advantages of An Offshore Company Provides confidentiality over financial affairs and allows wealth growth without intrusion. Preferred structure to achieve anonymity and privacy. Limited liability. Eliminate or minimization of capital gains. Accounting or auditing not mandatory. If you have any other business setup requirement in Dubai, Abu Dhabi, Ras Al khaima and Sharjah please call one of our Specialist Consultants on +9714 3419701 or arrange a free, non obligation one to one consultation. For your convenience rapid response email service is available. E-mail Now Our offices are open in UAE from 9am to 8pm local time.
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