Benefits of Offshore Company Setup
Offshore companies are setups being functioned by foreigners overseas. The primary reason to setup an offshore company is to own assets in a foreign country. The assets are owned by the company that is setup in the country, and not by the company’s owner. An Offshore Company setup in UAE is legal business companies that is set up with the intention of operating outside its registered jurisdiction and or the location of its ultimate ownership. So, it is required for businesses to know the benefits of Offshore Company Setup.
Top 7 benefits of Offshore Company Setup in UAE
Zero tax burden
The UAE imposes zero tax charges on its offshore companies ? which exempt them from any income tax, corporate tax, personal tax or custom duty. This makes business owners to have full returns on their investment in the country to acquire future financial benefits.
Easy to set up
The minimal time period for offshore company registration in the UAE varies between 3 to 7 days. The UAE needs only one director/ shareholder for company registration. In addition, an offshore company can also be in virtual form. No need to have an office in the UAE.
Unlike other GCC countries, a local shareholder and partner is not required to set up an offshore company in the UAE. A director of an offshore company can be of any nationality. The shareholder of the company is eligible to enable the business and subsequently own property in selected areas.
Protection of Assets
For business persons with international business interests, an offshore company is an important vehicle for holding assets such as intellectual property or real estate investments. The asset protection serves as a legal wall between creditors and the assets of the offshore business. With companies throughout the world seeking ways to take advantage of laws that protect their assets and at the same time reduce their tax burden.
If you conducted a thorough investigation, you would have discovered areas where CEOs and officials in a company are required to share information with the public. This is not the case in UAE, where there is no need to reveal any information on the formation paperwork. To put it simply, providing you with enough security as required
READ MORE ABOUT BUSINESS SETUP IN KSA, QATAR, OMAN, INDIA, UK, AND USA
UAE's corporate regulations are quite flexible in terms of how the firm and even the board members might be structured. Aside from that, one person may rapidly operate as the shareholder, director, and officer in the firm, as opposed to other states where all three must be distinct people.
An offshore business in the UAE, like a natural person, may own assets such as real estate, intellectual property, securities, and any other asset, regardless of where it is situated. The ownership information of an offshore business in the UAE is fully anonymous, which is highly useful for international investors looking to shield their assets from creditors, other parties, or litigation.
BMS Auditing is offering low-cost business setup services in UAE, KSA, Qatar, Bahrain, Oman, India, UK and USA. We are the best Business Consultants. Our professional business specialists will help you determine the proper company type so that you can benefit from 100% ownership, substantial tax exemptions, and hassle-free capital repatriation. We will apply for a suitable operating license and submit all required documents to the authorities on your behalf.