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Offshore Company Setup
An offshore company can be incorporated as an International Business Corporation or an Offshore Limited Liability Company, as a Trust or as an Offshore Foundation. Since the legal structure has a great importance you are advised to form an Offshore Company only through a consultant as Al Bastaki Business Services able to minimize your risk maintaining an high level of confidentiality. The principal advantage of incorporating this company is a no or very low income tax. Incorporation process has to be done through a registered agent and usually can be active in 3-5 working days. It is possible to open a bank account to conduct routine operational transaction and with 100% repatriation of capital and profits.
An Offshore Company can be owned by individuals or corporate bodies and usually does not carry any business in the country of incorporation. Since it has a juridical status of non-resident company is not eligible to rent a physical office or a warehouse in UAE and does not allow to obtain a resident visa for its employees. Permitted activities are many and goes from international trade to investments. The default activity is General Trading but is possible to obtain activity as investment in properties or act as an holding company. Activities like banking, insurance, media, publishing, casinos, movie production, advertising, consultant, and financial services are not consented. It can be used as a corporate shareholder of a mainland company or Free Zone company in order to maintain a complete financial privacy and confidentiality.
Passport copies for the shareholders; Passport copy and CV (Resume) for the Manager; Brief note about the business that will be conducted; Proof of physical address; Trade name reservation (Al Bastaki Business Services will handle this issue); Bank reference letter and declaration on the source of funds.
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