UAE offshore company formation is one of the most common choices among entrepreneurs from around the world to do business in the Emirates. Through a UAE offshore company formation, you can conduct business internationally. Moreover, you’re eligible to hold properties anywhere in the world if you choose to go for a UAE offshore company formation. However, do not confuse offshore companies with free zone companies. Both are different entities.
Although anyone can choose to do a UAE offshore company registration, it is more suitable for those who want to own assets like yachts, private jets, and aircraft, ships, etc. If you are one of those people who want to turn their lifestyle around, UAE offshore company formation is the right choice for you.
There are 3 major jurisdictions that govern the UAE offshore companies. Namely, Ajman offshore, RAKICC offshore, and JAFZA Offshore. If you want to know more about the UAE offshore company registration, we suggest you read ahead.
Why Should You Do A UAE Offshore Company Formation?
UAE offshore company formation offers ample benefits to entrepreneurs. In fact, not only are there benefits but also various policies that make the business environment even more interesting, profitable and competitive. To lay out a few major advantages we have given a list below.
- Get complete confidentiality, security facilities, and privacy.
- Your assets are highly protected and secure.
- There is no requirement for an audit repost during the renewal.
- Also, you are allowed to invoice international clients.
- You can easily open an international corporate bank account.
- Moreover, you can own 100% shares of your company and repatriate profits.
- You do not need to do public registration for shareholders and directors of the company.
- Enjoy a quick and easy incorporation process.
- Furthermore, enjoy a tax-free company formation with no capital requirements.
What is the Process for UAE Offshore Company Registration?
The UAE offshore company registration process is quick and easy. You can complete it in just 5 to 6 steps. However, if you are totally new to the process, you must take help from company formation experts.
Step 1 – Company Name
The very first step is to decide on a name for your company and register it with the concerned offshore authority. Make sure that the name you choose does not include any type of foul or offensive words. Also, they should not target any religion or cast either. You need to make sure that the name complies with all the rules set up by the government. Another one of which is that name should include the legal structure towards the end. Furthermore, if you decide to name it after a person, make sure to use their full name while registering.
Step 2 – Business Activities
Now, you need to decide what services or products you want to sell. Based on that, you can select the business activities you want to conduct in the UAE. Moreover, the best part is that the UAE government offers two thousand plus business activities to choose from. Also, they provide a super awesome policy of requesting an additional activity, if it is not on the list.
Step 3 – Application Form
After selecting your business activities, it’s time to fill out the application form for UAE offshore company registration. The application form will be considered complete only when the following documents are attached to it:
- ID proof of all the shareholders, directors, and managers of your company.
- Address proof of all the business partners. Additionally, you will need the address proof for employees as well.
- Moreover, attach the CV of all the shareholders, managers, directors.
- Attach your properly planned and drafted business proposal.
- Photocopies of the visas of all the shareholders, directors, managers, and employees.
Step 4 – Submission of Documents
Now, you have to collect the remaining documents and submit them concerning legal authority for initial and other necessary approvals. But make sure to double-check all the documents before you hand them over to the legal officials.
Step 5 – MoA and AoA
Partner with a local LSA and draft a memorandum of association and article of association. Also, make sure that all the business partners sign it in front of a public notary. Another important thing to remember is to get the MoA and AoA to be drafted in the English language and not Arabic.
Step 6 – Offshore Bank Account
The final step is to open an offshore bank account. A bank account helps businessmen to execute financial transactions easily. Moreover, the jurisdictions allow offshore companies to open bank accounts in different locations as well.
What Are The Documents Required for UAE Offshore Company Formation?
To make it even easy for you, we have given a list of important documents below:
Documents Required For Individual Shareholders:
- Valid passport copies of the owner and shareholders.
- Proof of residence.
- Original reference document from your bank.
- Details of the owner and all the shareholders.
- Company name registration proof.
- Business activities to be conducted by a newly formed offshore company.
- The hierarchical structure.
Documents Required for Corporate Shareholders:
- Board resolution.
- Memorandum of Association.
- Certificate from the parent company (if any)
- Hierarchy of beneficiaries.
Start Your UAE Offshore Company Registration With Shuraa!
Now that you are fully equipped with information on UAE offshore company formation and registration, you know how beneficial it is for commencing international trade from the UAE. Moreover, UAE offshore company formation offers a profitable and competitive environment as well as good corporate connections.
So what are you waiting for? Although the process is quick and easy, if you are new to it, you will need help from experts. If you are willing to start a new business, UAE offshore company registration is a cost-friendly and stable option. You can connect with company formation experts at Shuraa Business Setup who can make the company setup process seamless. Moreover, we will guide you at every step, help in preparing all the documents, and acquire required permissions and approvals for you. Also, we can help you obtain your business license at a very low cost. All you need to do is call us and tell us your business requirements and we will take care of it all.
Moreover, get to grow your business with the right advice. You can reach out to our experts at +971 44081900 or drop a WhatsApp message on +971 507775554. For assistance via email, please write to us at firstname.lastname@example.org.