Dubai is one of the seven states of the United Arab Emirates. It is the second largest state in terms of area, which houses the most number of people in the Emirates. Dubai has come of age from being a vast and lethal desert into an industrial and trade hub in the region. It is located on the crossroads of international business centers as European, Asian, and African companies are perfectly use the Dubai ports and free zones to expand their international appearance and growth. Furthermore, Dubai offers one of the best infrastructure setup which bodes perfectly well for the international trade, finance, logistics, and retail companies. Over the years, the local rulers have spent billions of dollars on the infrastructure development and transportation which has further augmented its reputation as one of the top-class tourism destinations in the world. The provision of all the basic and advanced infrastructure requirements has made it an amazing experience to set up an offshore company in UAE.
Setting up a business in Dubai gives companies many options like a free zone company, a limited liability company, a joint venture company, an offshore company, and many more. The diversified market of Dubai in particular and the UAE in general offers a great growth potential to the international companies which can use the strategic location of the state to further expand their business in anywhere in the world. Among the business options in Dubai, setting up an offshore company has met the biggest success over the years. Take a look at some of the benefits of setting up an offshore company in Dubai.
- An offshore company enjoy tax holiday, which means exemption from corporate tax, custom duty, personal tax, and income tax.
- In the past, an international company had to find a local resident to be able to set up a company in the United Arab Emirates, but not anymore. An offshore company can be established with a100 percent foreign ownership.
- An offshore company doesn’t really have to own an office in the UAE, so they are allowed to set up a virtual company as well.
- An offshore company is not liable by law to hold public record of directors or its shareholders.
- An offshore company is set up at a brisk pace because of a faster incorporation procedure.
- Investors are not required to meet the local authorities to set up the company, rather a registered agent get the documents signed by investors at their office to complete the process.
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