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Latest News and all That You Should Know for Doing Business in the UAE

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  • September 14, 2020
  • 11:00 AM
  • UAE

If you’re thinking of setting up an offshore company, few locations can compete with the UAE. The region is tailored towards supporting businesses of all sizes (in a variety of different sectors), and there are numerous benefits on offer.

Here’s a run-through of the main advantages.

The benefits of setting up an offshore company in the UAE:

  • Multiple tax benefits

It’s 100% tax free to set up an offshore business in the UAE, and you’ll also be able to keep 100% of the returns. The tax perks have attracted big investment in the region, which in turn, has strengthened the economy. This is something that benefits offshore companies operating in the area.

  • 100% foreign ownership

Another major advantage is the fact that the UAE allows foreign entrepreneurs to retain 100% of the ownership of their business. You’re also free to operate with financial privacy.

  • Confidentiality

If you want to operate with a higher degree of confidentiality, setting up an offshore company in the UAE makes good sense. Names of Directors and Shareholders are not available on public record. (These do however have to be disclosed on the Company Registry).

  • Your assets are protected

The UAE offers asset protection (the exact nature of this differs, depending which state you establish your company in). For example, in Dubai you’re permitted to segregate your creditors from your secured assets, which provides greater peace of mind for the future.

  • Reduced operating costs

There’s less legal requirement to provide reports (such as an annual report or financial accounts), which means you won’t have to necessarily lease office space or hire staff to remain compliant. In fact, in some instances, you may even be able to operate from a virtual office, which greatly reduces costs.

  • You’re protected against lawsuits

Lawsuits have the potential to destroy businesses. Thankfully, when you set up an offshore UAE company, you’ll have protection if the worst should happen. Your personal assets won’t be seized, and other resources are protected too.

Further benefits

There are several other advantages that are worth mentioning, such as:

  • There are no audit requirements for setting up an offshore UAE company.
  • It’s quick and easy to establish your business, if you’re working alongside a specialist advisor.
  • The shareholder can operate the company, if required.
  • Only one owner is required to set up the company.
  • Company registration takes as little as three to seven days.

Why the UAE?

The UAE is a great place to set up an offshore business. It’s politically stable, actively geared up to support enterprise, and has a solid economy. It’s also well-positioned globally, and has a formidable reputation across the world.

If you’re thinking of starting an offshore company here, get in touch with PROFIKUO Consultancy today. We’re here to help you register and establish your business, and to provide any advice and support that you might need.