If you have an e commerce business and you are catering to international clients, it will be a great option to set up an offshore company in UAE and get a bank account in any of the local banks here.
You can form an offshore company in just 4 days. You just need to provide us your passport copy, utility bill with your address not older than 6 months and a bank reference letter from your current bank. Lot of times you don’t have a utility bill on your name, in that case you can get a address confirmation letter from a police station of municipality in your area. Your presence is not required for the company formation. Any documents where your original signs are required will be couriered to you and you can courier it back after doing the needful. Once you get the letter of incorporation you might have to visit the country for your signatures for account opening.
Along with company formation we also assist you in choosing a bank for yourself as per your requirements. The bank representatives can come come to you at your convenient time and convenient location and address your queries. You get several benefits with UAE banks:-
- Multi currency banking
- Tax free transactions
- Personal bank representative dedicated to you
- Line of credit facility
- Maximum transaction facilities
- Hassle free account opening process
Advantages being an Offshore company owner in UAE:
- No Corporate Tax.
- 100% ownership.
- No foreign exchange controls, trade barriers or quotas.
- No restrictions on capital repatriation.
- Easy access to key decision makers.
- Easy procedures for transfer of shares.
- Offshore Companies can own/lease real estate properties in the UAE approved by the offshore authorities as well as anywhere outside the UAE.
- Offshore Companies can hold an account in a bank within and/or outside the UAE for the purpose of conducting routine operational transactions.
- Legalization of documents is less costly and less cumbersome than other jurisdictions.
- Offshore Companies may own yachts registered in the UAE.
- A person resident in the UAE may hold shares in a Offshore Company.
Offshore companies are much cost effective in comparison to mainland and freezone company formations in UAE.
This article is written by Ms. Rupa Jha (Business Consultant at flyingcolour business setup services), Please feel free to call us at +97144542366 for any further queries.