‘Offshore‘ word is basically saying about a company registered abroad typically looks for tax advantages. AGX auditors have excellent team to assist you in offshore company formation in UAE. So the Offshore Company formation in Dubai and UAE is one which the company owners are residing outside of the country and the company is registered outside UAE,Dubai. AGX Auditors help you to handle the offshore company formation in UAE.
Advantages of Offshore Company Formation in UAE
1. Free from Corporate UAE Taxes: Now there is no taxes or added value services are required for offshore companies of Dubai. However, local fees and legal duties are applied for certain type of services such as liquor and tobacco.
2. Free from local shareholding: The international offshore companies are free from local shareholding activities.
So the offshore company owners will have 100% shareholding in hand.
3. No complex company registration process involved: The registration procedures can be completed in 3-4 working days there will not be any hectic procedures involved in Offshore Company formation in Dubai and UAE
4. Low Working Costs: They are not required to manage the staff fee or auditors fee.
Restrictions on the activities of Offshore Companies
1. The activities expressly prohibited under the regulations are banking, insurance and financial services. The Authorities shall have the power to add other activities to the list of prohibited activities.
2. UAE Offshore Company formation are not generally permitted by the Regulations to carry on any commercial operations within the UAE.
3. Own an interest in real estate property situated in UAE except in the designated areas of UAE as approved by the authorities.
Offshore Company Formation in UAE – Needs
Offshore Company formation UAE Dubai They must submit the signed application form before registration. It must be stated that the company activities are involved under the regulations. The data needed on an application form should contain the full names and official addresses of the shareholders, the number of shares proposed to be held by them and the value of the shareholdings.
Following documents must be submitted:
1. Sole applicant:
- Self profile of applicant.
- Passport copy of Shareholder.
- Bank acknowledgement letter.
- Proof of residence (utility bills like water/electricity bill evidencing the address of the applicant)
- Managers passport copy. (shall be one director minimum, shareholder can also become a director)
- Power of Attorney
2. Corporate Applicant:
- Document of registration of the company attested by the UAE Embassy.
- Document of good standing of the company duly legalized and attested by the UAE Embassy
- Memo and Articles of Association of the company
- Bank acknowledgement letter.
Once the documents are submitted you will get a registration number.