“Business at its Best”
WHAT IS AN OFFSHORE COMPANY?
Most business people have heard about offshore companies. However, very few are aware of what these companies are used for and how they differ from other more common corporate entities. In this article the key concepts related to offshore companies and outline some of their unique benefits are introduced.
First and foremost, it is essential to define the term offshore. Offshore relates to managing, registering, conducting, or business operating in a foreign country, often with financial, legal and tax benefits. Offshore Company is then a company incorporated for the purpose of operating outside the country of its registration and/or the place of residence of its directors, shareholders and beneficial owners. Again, this is typically pursued to realize various financial, legal or tax benefits.
- Benefits Of an offshore Company :
- 100% foreign ownership is allowed
- Minimize taxes
- No necessity for finding a UAE national a shareholder or sponsor
- Complete anonymity and privacy
- Company can own real estate properties on approved areas by the Authority
- Hold multi-currency bank accounts
- There are no foreign currency restrictions
- The setting-up costs are comparatively less
- Quick and accessible communication
- Modern infrastructure
- Attractive business prospects
- Amazing work environment.
In a professional opinion, a Dubai Offshore Company is an excellent corporate structure because:
- A Dubai Offshore Company is tax-free;
- A Dubai Offshore Company portrays a good image to your Clients and suppliers;
- There is no public register of shareholders and directors;
- A Dubai Offshore Company is quick to incorporate.
There should be an approved registered agent and they are eligible to form the offshore company. The agent will have to be located either in the free zone itself or in the UAE.
Peninsula business solutions is a registered agent and one of the market leaders in offshore business consultancy offering solutions to clients looking to minimize taxes, protect assets and limit liabilities.
While associating with Peninsula business solutions, clients get the combination of our in-depth local expertise and extensive experience, which enable us the ability to precisely understand the unique needs of our client’s business. We are thus, able to recommend the best possible options and ensure the client’s business set up with minimal hassles and effort.
- Benefits :
- No direct taxes
- Custom duties are quite low
- No foreign exchange control
- Relaxed visa policy making it easy to import a labor with varied level of skills
- Competitive financing costs
- No barriers in trade
- Competitive real estate costs.
- Successful planning
- Asset protection