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How to Setup Offshore Business in UAE

here are the steps to setup offshore business in UAE.

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How to Setup Offshore Business in UAE

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  1. How to Set Up a UAE Offshore Company • While offshore jurisdictions in UAE no longer suffer with the stigma, it’s still important to select the jurisdiction you want to set up in, while minding the cost (including the annual maintenance expenses) and the reputation of the jurisdiction. • Why you should consider offshore business setup in UAE • You are or you expect to be undergoing expansion for your business and new shareholders will be coming in. Institutional investors and many other investors prefer investing with a business that’s registered in an offshore jurisdiction. • Your business is an investment holding entity and it holds stocks, real estate, and/or bonds. An offshore company in UAE can offer relief from capital gains taxation and stamp duty. • You want to implement estate planning. • You’re in need of enhanced privacy with regards to your business’ administration and operations. • You intend to put out higher returns for your investments. • You wish to implement tax planning. • You are developing a substantial intellectual property, plus you intend to utilize the IP in a variety of jurisdictions in UAE and abroad.

  2. How to Set Up a UAE Offshore Company • Selecting a company name – the company’s name has to be verified initially by authorities. The name of the offshore company to be established must NOT include certain words such as Chamber of Commerce, chartered, Royal, trust, mutual fund, Emirates, Emirate, finance, municipal, fund, cooperative, building society, bank, and insurance. A company name’s end shall have either Incorporated or Ltd. • Filing an application for offshore company formation – in order to do this, you will need to furnish the requirements. The requirements include attested passport copies of individual shareholders, preferred company name, proof of residency of individual shareholders, as well as details of the activities of the offshore company that is to be formed. • Submission of requirements – the completed form for offshore company formation application is to be submitted to authorities concerned for review and approval. • MOA submission – as soon as the application form has been approved by authorities, a (MOA) Memorandum of Association is to be provided and it should be in English. • Creation of bank account – once the documents are all approved by the authorities, the company should start with the opening of an offshore account from a banking facility.

  3. How to Set Up a UAE Offshore Company • Selecting a company name – the company’s name has to be verified initially by authorities. The name of the offshore company to be established must NOT include certain words such as Chamber of Commerce, chartered, Royal, trust, mutual fund, Emirates, Emirate, finance, municipal, fund, cooperative, building society, bank, and insurance. A company name’s end shall have either Incorporated or Ltd. • Filing an application for offshore company formation – in order to do this, you will need to furnish the requirements. The requirements include attested passport copies of individual shareholders, preferred company name, proof of residency of individual shareholders, as well as details of the activities of the offshore company that is to be formed. • Submission of requirements – the completed form for offshore company formation application is to be submitted to authorities concerned for review and approval. • MOA submission – as soon as the application form has been approved by authorities, a (MOA) Memorandum of Association is to be provided and it should be in English. • Creation of bank account – once the documents are all approved by the authorities, the company should start with the opening of an offshore account from a banking facility.

  4. How to Set Up a UAE Offshore Company • For an individual shareholder: • Owner’s copy of passport (has to be attested); • Original bank reference; • Residential proof; • Details of the shareholder or owner; • Company’s preferred name on which it will operate under; • Hierarchy of the beneficiaries; • Activities of the offshore company that’s newly formed

  5. How to Set Up a UAE Offshore Company • For corporate shareholders: • Memorandum of Association; • Board resolution; • Hierarchy of beneficiaries; • Parent company certificate with mention of directors and shareholders (has to be attested)

  6. Thank You Mobile: +971 50 4812157 | +971 55 3701232 Tel: +971 4 2555496 |Fax: +971 4 2501558 Email: sales@farahatco.net Web:https://www.farahatco.net/

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