Dubai Offshore Company

Dubai offshore company launching, comparable to Panama company formation, is now a very popular business in Dubai. Offshore companies can be set up as Companies Limited by Shares, Limited Liability Companies and Recognised Companies. A Dubai offshore company can thus be created using any one of these basic.

Regulation for Dubai offshore companies are implemented by Dubai Financial Services Authority (DFSA), which is responsible for all offshore and international financial services which are available in Dubai through its International Financial Centre (DIFC).

Various incentives are given for Dubai offshore company incorporation. For example, a Dubai offshore company which holds a license to do business in the Financial Centre is given a 50 year tax holiday. This tax holiday is automatically continued after the 50 year period so long as the Dubai offshore company continues to carry out its business activities from within the financial centre.

To incorporate companies offshore in Dubai, it is necessary to submit the company’s name, the address of the Dubai offshore company’s registered office, the nature of the offshore company’s business, the value of the authorised share capital and the share split between the members to the Registrar of Companies. This information has to be submitted for every offshore company Dubai offshore company. Incorporation rules require all Dubai offshore companies to be companies which are limited by shares (Ltd) or Limited Liability Companies.

Additional details which must be submitted to the Registrar for Dubai offshore companies are the members’ names, addresses and nationalities in order to register Dubai offshore company. Dubai offshore corporation creation, same as Panama companies formation, can be undertaken by natural and legal persons regardless nationality. They must however satisfy the requirements for offshore company incorporation in Dubai and undergo the relevant due diligence procedures required for Dubai company formation. To incorporate companies offshore Dubai, it is necessary to contract an agent. Dubai offshore company incorporation agents must be used for Dubai company offshore formation as this cannot be done directly with the Registrar.

Dubai offshore companies have legal personality and as a result are useful in owning offshore bank accounts which can be opened in name of the Dubai offshore company. Because of its legal personality, a Dubai company offshore can give and apply for loans, acquire property, make investments, trade and carry out regular business activities as a natural person would.

These capabilities of Dubai offshore companies are regulated under the Companies Act (2009). A Dubai offshore corporation is distinct and independent from its members: directors and shareholders. This ensures that the liabilities and obligations of a Dubai offshore company are separate from those of directors and shareholders.

A Dubai offshore company is not authorised to have membership or to hold share interest in any company which serves as the holding company of that (the same) Dubai offshore company. Consequently, any membership interest of a Dubai offshore company which is transferred or distributed to its subsidiary is generally null and void, except if the specific provisions stated in the Companies Act for this matter are closely followed. This point is essential to note as the formation of holding companies is very common among Dubai offshore companies.

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