Offshore companies are basically setups being operated by foreigners overseas. The most common 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.
Offshore companies allow you to open corporate bank accounts in the country of business’ origin. These companies also you to keep you’re details confidential. It is not only assets but also contracts and debts that can be kept in the name of the company by a foreign resident. Investment opportunities that would not have been available to you are made available by the existence of your offshore company. Among other things, you can protect yourself from bankruptcy, civil unrest and lawsuits through these offshore companies,
However, offshore companies can be used for tax evasion or money laundering which is illegal. Therefore, the business owners are suggested to seek consultancy so they are aware of the laws and regulations of operating businesses in foreign land. Consultants will allow you to stay safe from danger zones that you do not know of. They will also take care of the whole setup process without you making too much of an effort.
What you need to know
An informed decision can take you a long way, helping you achieve you what you aimed for since the start. A good start will not only motivate you but help you stay focused because the target comes nearer with time, provided you take good steps continuously.
- You must conduct a study as to what benefits are offered in different areas in the UAE and the different zones. Only when you can draw a comparison between the different zones and measure the benefits against your requirements, will you be able to understand what’s best for you.
- Your offshore company will not get a business license, as is the case with all offshore companies. However, you will get a certificate of incorporation. If you want to run a business in the UAE, try looking for mainland or free zone company formation.
- Authorities in the UAE maintain confidentiality of the information regarding your offshore company, however, it also makes sure your business is legal.
- In order to get an offshore company registered in the UAE, bank accounts need to be created. You will also need a company registration agent to get your offshore company registered.
- Offshore companies in UAE also require a memorandum and articles of association just like in the case for other types of business registration Dubai. An offshore company cannot carry out business activities in the UAE. Their primary function is to hold assets.
The help you need
Setting up an offshore company can be difficult, especially as the regulations for business operations can be hard to understand for foreigners. Trademark Registration Dubai has business Consultants Dubai, who also provide services to help entrepreneurs and investors set up their own businesses.
The business Consultants Dubai at Trademark Registrations Dubai help their clients by familiarizing them with rules and regulations that need to be followed by the businesses. Furthermore, the consultancy provides a hand in completing the procedure that leads to the business registration Dubai. Setting up bank accounts, obtaining licenses and other registrations for the client to operate their business setup in Dubai is taken care of by the Trademark Registration Dubai. This makes the business setup in Dubai process less time consuming.
We can provide more details on the matter. Contact us on call or through email.