An Offshore Company is a company which is incorporated outside the jurisdiction of its primary operations. Offshore Companies are sometimes known as non-resident companies. An Offshore Company should not conduct substantial business within the offshore jurisdiction where it is incorporated.
An Offshore Company is a very flexible corporate entity commonly used in international tax planning, and can be integrated into a wide variety of business arrangements. Tax optimization, asset protection and confidentially are just a few benefits which can be achieved by a proper application of an Offshore Company.
There is no standard reply as to which is the best offshore jurisdiction. Depending on the personal situation and business activities of its owners and upon the various tax regulations in force in the countries where the Offshore Company will engage in business are decisive factors.
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.
Main activities of UAE OFFSHORE COMPANY
- General Trading
- Consulting and Advisory Services
- Holding Company (Buy/Hold/Sell stakes of companies)
- Investments and Joint Investments Company
- Property Owning
- International services
- Professional Services
- Shipping and ship management companies
Main features of UAE OFFSHORE COMPANY
- It does not need to have physical offices in the UAE.
- It may not carry on business within the UAE.
- It may not obtain UAE Residency Visa.
- It may have non UAE resident as director or shareholder
- It may have UAE resident as director or shareholder
- It may have corporate shareholder/corporate director
- It does not require the shareholder/director to be physically present in the UAE for incorporation
- It may own real estate in the UAE
- It may maintain bank accounts and deposits in the UAE or worldwide.
- It is not obliged to maintain its books and records.
- It may hold shares in other UAE and worldwide companies.
- It may own yachts registered in the UAE.
UAE has Double Taxation Avoidance Agreements (DTAA) with a number of countries
Double taxation agreements prevent individuals and corporations from being susceptible to paying tax on the same item during the same time period. These agreements determine which of the two states concerned should levy tax in a particular situation: Austria, Belarus, Belgium, Canada, China, Czech Rep., Egypt, Finland, France, Germany, India, Indonesia, Italy, Lebanon, Malaysia, Malta, Morocco, New Zealand, Pakistan, Poland, Romania, Singapore, Sudan, Thailand, Tunisia, Turkey, Ukraine.
UAE is not a member of the Organization for Economic Cooperation and Development (OECD)
No foreign exchange of information.
UAE is not on the OECD ‘blacklist’ of tax havens (nor the FATF blacklist)
UAE is not a member of the EU, and is not subject to EU regulation
THE LAWYERS AT ABDALLA ALNAKHI ARE WELL VERSED IN
PRESENTING CRIMINIAL OFFENCES
COMMITMENT
We are committed to our clients and to their success. We work hard to solve problems that arise. We understand that good legal advice can add to the bottom line of a business, and see ourselves as a catalyst to business growth.
NETWORK
Because of our focus on helping businesses and entrepreneurs, our firm has developed relationships and contacts with various accountants, law firms, specialist lawyers, brokers, bankers and other business professionals in United Arab Emirates.
QUALITY AND EXCELLENCE
We have the expertise to understand and creatively solve the issues faced by our clients. Our lawyers have a keen interest in business. We take pride in seeing our clients through to success.