Are you interested in offshore companies and wondering exactly what this model involves, whether it is legal, and whether it is possible to set up a company without traveling to the United Arab Emirates?
An offshore company is a business established and registered in a country but not authorized to conduct business there. It is used for international activities within the specific tax framework of the chosen jurisdiction.
It differs in particular from a Free-zone company and must comply with the applicable rules. The four topics below provide further information on costs, legality, financial flows, and remote incorporation.
Key points to know
The cost of setting up an offshore company
The package includes the incorporation procedures, opening a bank account, company operations, and file follow-up.
The cost is 4,000 USD for incorporation and the first year of operation, then 2,000 USD per year from the second year onward for renewal.
Offshore companies: are they legal?
The term “offshore” is often associated with tax havens, money laundering, or tax fraud. However, an offshore company can be perfectly legal if it complies with the applicable rules.
It is important to distinguish the use of legal means to benefit from certain exemptions from tax fraud and tax evasion.
Manage your offshore company on a daily basis
Money transfers and offshore company
Financial flows are unavoidable when a company receives payments or transfers funds between several accounts.
An important point is the need to implement a coherent, documented strategy to justify the legality of the transactions in the event of an audit.
Create an offshore company online
It is not necessary to travel to the UAE for every step. The application submission and sending of several documents can be completed remotely.
However, being present in Dubai may be essential for certain banking procedures, particularly opening the account.