UAE has been a popular market for new entrepreneurs for a long. It is a launch-pad for many new young businessmen willing to access markets around the world. Its tax-free policy attracts people across the globe to try their luck in business in UAE.
UAE undoubtedly has the most favourable environment. It has an excellent infrastructure and different zones available for business. Due to this, import-export, international trading becomes easier. Apart from this, according to World’s Bank standards, doing business in UAE is fairly easy. However, you have to go through a complete process of offshore company registration.
What is an Offshore Company?
When a business or company is established outside an entity’s home base, it’s termed as an offshore company. It is incorporated in a jurisdiction outside the owner’s residential country. When thinking to set up a company in UAE, there are many pros associated. It gives asset protection and tax benefits. Ease of operation and confidentiality is another added advantage.
How to Get your Offshore Company Formed and Registered in UAE?
The process of UAE offshore company registration has a few steps and rules. There is a list of documents required ad certain steps to be followed. Below mentioned is a complete guide to this:
- Prepare a business plan: A convincing business plan for at least 3 years is required. 3 years is not a must but since it sounds convincing, it is better to be prepared in advance
- Bank Work: Complete bank statements for the last 6 months stamped by the bank are mandatory. A bank reference letter will also do the job
- Passport Details: Passport details for you as well as your partners or employees will be required. This is to ensure the validity of employees and shareholders
- Address Proof: A valid local address proof is required to kick start your business. This can have a bank copy or any utility bills, etc.
- Name Reservation: There should be options available to reserve your company name that should be unique from other similar ones
Once you are all set with your plan to start a business in UAE, the first thing must be to look for a business consultant that offer company incorporation services like Morrison. They are trustworthy and can be your best friend throughout your business setup journey. Their expertise along with experience can make your complete journey hassle-free.
Offshore Company Registering Authorities
There are majorly 2 regulatory authorities that facilitate UAE offshore company registration. These are RAK and JAFZA. These two are principal jurisdictions that promote and help offshore company formations in UAE. Both are tax-free and also permit 100% foreign ownership. These are completely responsible for the incorporation and registration of international business companies. They also provide full site registry services and make your registration process hassle-free.
The Need of an Expert
Once you are all set with your plan to start a business in UAE, the first thing must be to look for a business consultant. They are trustworthy and can be your best friend throughout your business setup journey. Their expertise along with experience can make your complete journey hassle-free.
Conclusively, it is highly evident that UAE is one of the best places to start a business. If you have planned something, a great business consulting firm Emirabiz can be of great help. They have the best track record in getting many new companies established without hassle. Do not forget to include them in your business journey if you want to come out with flying colours.