Offshore Company Setup

company-formation-parts

WHY SETUP AN OFFSHORE COMPANY IN THE UAE?

An offshore company (Offshore Financial Center) is merely a company that has been incorporated in a country other than ones place of residence, citizenship or domicile. Countries interested in attracting global business and expanding their economies compete for international business by implementing competitive tax regimes and guaranteeing privacy levels now. Offshore companies play an integral role in the global economy providing confidential, tax efficient means of international investing and conducting global business.  An Offshore Structure is ideal for individuals and corporate entities for minimizing operation costs; individuals of high net worth, international investors, property owners, entrepreneurs.

Since the inception of offshore company formations in early 2003, the UAE has rapidly emerged as the business hub of choice in the Middle East region and is proving itself to be well placed to being one of the most dynamic and fastest growing business and International Financial Centers worldwide.Given the UAE’s continued stance on ZERO tax’s and duty exemptions, there is  little wonder why more and more individuals and International Companies are now choosing the Emirates as, not only their business headquarters, but also in many  cases  their primary choice of residence too.

In early 2003, Jebel Ali Free Zone Authority (JAFZA) Dubai’s foreign ownership Free Trade Zone became the first location in the UAE to provide offshore company formations. In February 2007, Ras Al Khaimah Investment Authority (RAKIA) and Ras Al Khaimah Free Trade Zone (RAKFTZ) located in the most Northerly region of the Emirates expanded their already thriving Free Zone to include offshore business formations, often known as International Business Companies (IBC’s.) Due to the excellent operational service methods adapted by RAK Offshores, the offshore incorporation division of RAKIA and RAKFTZ, coupled with the clear documentation process and lower incorporation fees, RAK Offshores have stepped into the driving seat of offshore formations within the UAE.

Strategic Solutions Consultancy (SSC) is a market leader in corporate legalization and offshore company formation. We offer solutions to clients looking to minimize taxes, protect assets and limit liabilities. We offer incorporation services in the U.A.E and some leading offshore centersaround the world and can help you setup an offshore company and bank account in Dubai.

Offshore company formation provides several potential benefits over the traditional “onshore” corporation including but not limited to all of the following:

  • Privacy & Anonymity
  • Legal protection
  • Tax Optimization,
  • Asset protection
  • Succession planning
  • Low operational cost
  • Simple and flexible procedure of company establishment

OFFSHORE COMPAY BENEFITS

An Offshore Company Provides a Structure for Asset Protection:

Putting your personal assets into a separate legal entity is generally a good idea whether you place them in a traditional company within your home country or you place them in an offshore company. Certainly, offshore companies and assets are much more difficult to locate and can provide protection against litigation suits. Talk to us about how to setup an offshore company in Dubai and avail a good structure to protect your assets.

Offshore Company Formation and Legal Protection:

Offshore company formation provides a strong layer of legal protection by removing your name from your assets. Lawyers typically perform a preliminary search to locate assets that may be tapped in the case of a winning judgment. Utilizing offshore companies by titling assets and transferring them to your offshore company can be a valuable tool in deterring these lawyers; preventing lawsuits and potential adverse judgments.

Bringing litigation against well planned offshore companies, offshore trusts and offshore foundations is more difficult due to the difficulty of locating foreign assets and subsequently proving ownership of them. Further, in many jurisdictions, the lawsuit would have to take place in the country of incorporation since foreign judgments are not recognized except in cases of money-laundering, weapons and drug smuggling, and criminal tax fraud. It is important to note that tax fraud is an entirely different term from tax evasion and tax avoidance. Tax evasion is an administrative offense in many countries and tax avoidance is an entirely legal means of minimizing personal and corporate taxes. Often, these terms are conveniently intermingled by Governments of high-tax countries.

Privacy and Anonymity:

Utilizing an offshore entity to conduct your business, bank transactions and/or personal financial investments provides additional privacy and anonymity. In many jurisdictions, the company officers, shareholders and beneficial owners can either be omitted from the incorporating documents and/or are not on any public record at all.

Simplicity:

One often disregarded aspect of offshore company incorporation is the relative simplicity of the process. Offshore company formation in many jurisdictions is a quick and seamless process and Strategic Solutions Consultancystrives to make your offshore incorporation as simple as possible. Additionally, ongoing requirements for offshore companies are often more relaxed than for “onshore” companies.

Tax Optimization:

Offshore companies established in low or zero tax jurisdictions may reduce, delay or even completely eliminate the tax burden on the company. Of course, there are often taxes to be paid in the country of citizenship/residence or business domicile, but offshore company incorporation may minimize these taxes. For instance, the taxpayer may be able to delay payment of the taxes until gains are repatriated allowing the gains to compound over time.

Tax treaties may be utilized to reduce withholding rates on dividends, royalties and interest as well; however, in order to access these treaties, the company generally must be tax resident in the country of domicile. The Seychelles Special License Company (CSL) is one such entity which may access the growing list of tax treaties signed by Seychelles with other countries.

CLASSIC USES OF AN OFFSHORE COMPANY

Property Holding:

Many of the costs associated with purchasing property can be minimized through the use of an offshore company. Real estate, such as vacation homes, could be purchased through an offshore corporation and the shares sold to the next owner allowing for a speedy and easy transfer and avoidance of many taxes related with the sale of property.

Trading Company:

An offshore company may acknowledge orders directly from a buyer and instruct the manufacturer or other seller to deliver the goods directly to the customer. The resulting profit may be accumulated offshore by the third party offshore company. This commonly is useful when the manufacturer (seller), purchaser, and businessman initiating the business are all located in different countries. The supplier invoices the third party offshore company who then re-invoices the purchaser at the sale price retaining the profit. Contact Strategic Solutions Consultancy about how you can best setup an offshore company in Dubai to take advantage of this.

Asset Protection& Wealth Management:

An offshore entity is frequently used as part of an asset protection structure involving an offshore trust, offshore foundation or two or more offshore companies domiciled in separate jurisdictions. The purpose is to make it difficult for prospective adversaries to situate assets and consequently win judgments against these assets. These structures usually employ at least two separate entities domiciled in separate jurisdictions with nominee services including both nominee directors and nominee shareholders.

Investment Holdings for Corporate:

Offshore companies are frequently formed for the purpose of holding shares in other companies, international real estate, equities, bonds, commodities or for the trading of forex, options, or any other type of investment. Funds may be accumulated and reinvested throughout the world with the offshore corporation providing maximum anonymity and tax savings. The investments may be taxed in the jurisdictions where they are located; however, some countries offer tax free bonds and allow interest and investments in the form of bank deposits to be accumulated in gross over several years. Moreover, many countries do not tax capital gains on investments. Lastly, a properly structured investment company in an offshore jurisdiction having a tax treaty with the desired investment country may allow for a lower tax rate on dividends, interest and royalties generated from these investments.

Individual Tax Planning/Inheritance and Probate:

A high net-worth individual with international assets and looking to simplify matters of probate for his/her heirs may benefit from the establishment of an offshore personal holding company. Where international assets such as real estate or other offshore investments are owned by an offshore company, the assets may be shielded from inheritance taxes and higher taxation rates in the home country of the offshore corporation owner. Probate can become a costly nightmare requiring matters to be settled in each country where the assets are held. An offshore company domiciled in a third country can mitigate this problem and provide a clear and simple transfer to the intended heir of all international assets by specifying a transfer of shares upon the passing of the shareholder.

Holding of Intellectual Property (Copyrights, Royalties, Patents, Trademarks etc)

The acquisition or assignment of the right to use a patent, trademark, copyright or other “know how” to offshore companies often allows the royalties to be paid to the offshore company at a lower tax rate than could otherwise be enjoyed. These royalties are often subject to tax withholding at the source country; however, these taxes may be lowered through offshore company formation in a second country. This type of offshore corporation is often established utilizing a tax resident entity that is able to access double taxation avoidance treaties such as the Seychelles CSL.

Privacy:

Many high net-worth individuals simply want to safeguard their assets from the preying eyes of the public. This is good especially considering the increasingly controversial society we face today. Several jurisdictions offered do not require the filing of the names of directors, shareholders or beneficial owners. A higher level of privacy may be achieved through the use of an offshore company. We can offer additional advice concerning how to arrange ones affairs to achieve maximum privacy.

Captive Insurance& Debt Financing:

This is a company that provides risk-mitigation services for its parent company. A captive insurance company may be formed if the parent company is unable to find an outside firm to insure against a particular business risk; if the parent company determines that the premiums it pays to the captive insurance company are sufficiently deductible; or that the insurance the captive insurance company provides is more affordable or offers better coverage.

WE ARE REGISTERED AGENTS FOR UAE JURISDICTIONS

RAK Offshore (RAK Investment Authority)

AJMAN Offshore (Ajman Free Zone)

RAKIC (Ras Al Khaimah Free Trade Zone Authority)

Strategic Solutions Consultancy Can assist you in the below offshore jurisdictions

  • British Virgin Islands (BVI)
  • Seychelles
  • Hong Kong
  • Singapore
  • Cayman Islands
  • Mauritius

RAK OFFSHORE COMPANY(RAS AL KHAIMAH INVESTMENT AUTHORITY –RAKIA)

RAK Offshore Company incorporation is quick to setup, and offers a wonderful tool for investments.

A RAK Offshore Company provides total banking privacy which is better than most traditional jurisdictions today, and a lifestyle which is better than most sought-after destinations in the world. The RAK Investment Authority is the governing authority and companies are regulated under the RAK Offshore Regulations 2006.

One of the important features of a RAK Offshore Company is that its company documents do not need any attestations for use in the UAE, Saudi Arabia, Qatar, Oman and Bahrain.

A RAK Offshore Company could be the solution you are looking for – Contact SSC for advice and assistance today.

Advantages of a RAK Offshore Company

  • 100% foreign ownership
  • No public register of company officers.
  • Anonymity and privacy
  • Open and hold multi currency bank accounts
  • Offers Tax saving schemes
  • Legal protection
  • Property can be held except Dubai
  • No foreign currency restrictions
  • Full repatriation of the offshore companies profits and capital is allowed
  • Set up costs are less than that of an onshore company
  • Only minimum capital is required
  • Can be formed with a single Director/Shareholder

Our Offering:

  • Premium Advice on Offshore Company formation
  • Registered Office with PO Box
  • Registered agent
  • Preparation of registration forms
  • Preparation of Incorporation
  • Assisting in opening a bank account
  • Preparation of Memorandum and Articles of Association
  • Ongoing Management and Secretarial services upon request
  • Filing with the registrar of Companies

Deliverables:

  • Incorporation certificate
  • Bank account with full control (optional)
  • Share certificate (optional)
  • Memorandum and articles of association
  • Company Seal/Stamp

DOCUMENTS & DETAILS REQUIRED FOR INDIVIDUAL APPLICANT

  • Applicants Personal Profile (CV)
  • Bank Reference from anywhere in world ( contact for a sample)
  • Proof of residence (recent Utility Bill such as an Electricity Bill or Telephone Bill in the name of applicant not more than 3 months old)
  • Passport Copy (with at least 6 months validity)

Important: Usually documents are preferred /accepted in the English language. Directors and Secretary(s) shall provide Passport Copies and proof of address. (Contact SSC for advice and assistance and further on requirements for corporate shareholder(s))

RAS AL KHAIMAH INTERNATIONAL COMPANY (RAKIC)

What Is an International Company – RAK (IC-RAK)?

This is a company incorporated at RAK FTZ, according to International Companies RAK Regulations 2006.

The UAE has entered into more than 47 double tax treaties – An IC-RAK can best take advantage of those treaties.

Although all UAE companies need to follow UAE law, an IC-RAK can decide which law it wants to be applied for inheritance, disputes and any other legal matter (the preferred law must be cited in the Memorandum and Articles of Association). An IC-RAK can hold shares in “onshore” UAE companies (such as local LLC companies), “offshore” companies, or any other legal entity in the world. An IC-RAK can also own any real property in the UAE.

An IC-RAK can hold a bank account in the UAE, for the purpose of conducting routine operational transactions, and can also maintain professional relations with legal consultants, accountants and other similar persons carrying out business within the UAE. However, an IC-RAK will not be allowed to carry out business with UAE residents, or conduct any trade in RAK FTZ and the UAE, unless it has first obtained the appropriate license from the relevant authority.

Contact Strategic Solutions Consultancy (SSC) for more information on forming and running International Companies and many more financial center services.

  • Absolute privacy, confidentiality and protection of assets and information
  • 100% foreign ownership
  • Choice of law (common law, civil law or any jurisdiction of your choice)
  • Ability to maintain bank accounts in the UAE

Key Advantages and Benefits

  • Limited liability Company
  • 1 director minimum
  • Restricted bearer shares
  • Own real properties
  • No AGM or local director / shareholder requirements
  • No Corporate/Income Tax
  • Own intellectual property such as patents, trademarks and copyright
  • Re-domiciliation into or out of RAK jurisdiction
  • Own a Free Zone Company and take advantage of more than 47 UAE double taxtreaties

DOCUMENTS & DETAILS REQUIRED FOR INDIVIDUAL APPLICANT

  • Applicants Personal Profile (CV)
  • Bank Reference from anywhere in world (Contact for a sample)
  • Proof of residence (recent Utility Bill such as an Electricity Bill or Telephone Bill in the name of applicant not more than 3 months old)
  • Passport Copy (with at least 6 months validity)
  • UAE entry visa page as proof of entry to the UAE ( In the absence, Notarized documents from the applicant are acceptable)

Important: Usually documents are preferred /accepted in the English language. Directors and Secretary(s) shall provide Passport Copies and proof of address. (Contact SSC for advice and assistance and further on requirements for corporate shareholder(s))

AJMAN OFFSHORE COMPANY(AJMAN FREEZONE AUTHORITY- AFZA)

Established in 1988, Ajman Free Zone was granted an autonomous status under the Emiri Decree No. 3 of 1996 as issued by H.H Sheikh Humaid Bin Rashid Al Nuami, Ruler of Ajman.

The formation of the Free Zone Authority has given great impetus to industrial activity in Ajman which resulted in quadruple growth in the number of companies during the last few years. Ajman Free Zone is providing unbeatable advantages and facilities.

A multi million dirhams development plan is currently under progress inside the Free Zone on an area that exceeds one million square meters. This area, once developed, will be spacious enough to accommodate 1500 companies. Ajman Free Zone, with a strategic location at the doorway of the Arabian Gulf, is positioned to serve both Eastern and Western markets.

Ajman provides easy accessibility to the two international airports and four ports. Ajman port is serving over 1000 vessels in a year, and has emerged as an important maritime focal point today. It has twelve berths. A massive development of Ajman port, under progress, seeks to enhance its facilities to world level.

In its efforts to improve the level of business while maintaining international standards, and expectations, AFZA has newly instituted its Offshore Department with compliant regulations governing international companies. You can now avail yourself an AJMAN Offshore Company without a need to physically have operations within the UAE or Ajman.

Contact Strategic Solutions Consultancy (SSC) for more information on forming and running an Ajman Offshore Company.

You can expect the following with an Ajman Offshore setup:

  • Absolute privacy, confidentiality and protection of assets and information
  • 100% foreign ownership
  • Ability to maintain bank accounts in the UAE
  • Ability to tailor the company, memorandum and articles of association to suit your needs
  • No requirement of a UAE local director

Key Advantages and Benefits

  • Limited liability Company
  • 1 director minimum
  • Restricted bearer shares
  • No AGM or local director / shareholder requirements
  • Own UAE freehold properties (as approved by AFZA)
  • No Corporate/Income tax
  • Own intellectual property such as patents, trademarks and copyright
  • Own a Free Zone Company and take advantage of more than 47 UAE double tax treaties

DOCUMENTS & DETAILS REQUIRED FOR INDIVIDUAL APPLICANT

  • Applicants Personal Profile (CV)
  • Bank Reference from anywhere in world (Contact for a sample)
  • Proof of residence (recent Utility Bill such as an Electricity Bill or Telephone Bill in the name of applicant not more than 3 months old) OR a personal bank statement which bears a valid physical address
  • Passport Copy (with at least 6 months validity)

Important: Usually documents are preferred /accepted in the English language. Directors and Secretary(s) shall provide Passport Copies and proof of address. (Contact SSC for advice and assistance and further on requirements for corporate shareholder(s))

WHY INCORPORATE AN OFFSHORE WITH STRATEGIC SOLUTIONS CONSULTANCY (SSC)?

Strategic Solutions Consultancy has trusted advisors helping companies and individuals with the establishment, management and administration of companies including Offshore Company Entities, and Holding Structures to meet the client’s specific objectives. Our broad range of expertise includes corporate legalization, Onshore and Offshore, corporate re-structuring, wealth protection and succession planning through offshore structures, tax planning, cross-border investment and foreign market entry.

SSC has created a strategic presence in the region and an understanding of other international offshore jurisdictions, the major business and financial centers around the globe; because we believe it helps to be where our clients are. Our multi-lingual team delivers local expertise on a global scale. Our services and support are delivered, where possible.

While our scale is impressive, our service is always personal. An intimate understanding of local socio-economic factors provides the insight we need to give trusted advice, anticipate changing needs and deliver optimum solutions to suit different environments and market conditions.

We are Registered Agents for UAE offshore Jurisdictions providing premium advice and assistance with offshore company formation, bank account opening and incorporation in other international jurisdictions.

We have the breadth of experience, resources and technical skills to find creative solutions to complex problems and we are committed to providing a quality level of service. Our commitment to quality is inherent in everything we do, so as to build a rewarding, long-term working relationship that is built on trust.

In an effort to protect both our clients, and ourselves, we take our compliance and legal obligations very seriously and practice efficient client engagement procedures.

Choosing the right offshore jurisdiction is very important for several reasons. Political stability, efficient communications and a modern and reliable banking and financial system are amongst the top. With vast experience in setting up Offshore Companies, SSC Offshore Company Formation is your one stop destination for all the information you need to figure out how to get the most from an offshore entity and which jurisdiction to choose.

We are your trusted advisors with invaluable experience in guiding you through to making the right decisions. After speaking to our expert consultants, you will realize more often than not, your decisions are in your hands, yet we only advise and guide you to see the clearer picture in all perspectives that lead to a well informed decision by you.

Speak today to a SSC consultant today for advice and assistance

Mail: info@sscdubai.com

Call us: +971-50-6265891 / +971-55-7278339

Get in touch


Client Testimonials

  • We have had the sincere pleasure of working with the SSC Team on several projects for our company. SSC has always provided consistently high levels of expertise and professionalism in each engagement, but the most impressive element of our relationship is the fact that Mohamed and his Team are…

    Mark Corusy

    Executive Vice President,
    Orion Advisors

  • We are especially pleased with the personal service and 24 hour accessibility of SSC whenever we need services or just advice. We have used SSC for the establishment and maintenance of 6 companies and are very happy of the punctuality of services.
    Eren Veral

    World petrokimya

  • We have had the pleasure to work with Strategic Solutions Consultancy since 2012 and the service has always been perfect. Their know how of the region regulations and procedures allowed us to finalize the opening of our branch in timely manner. In addition to the regulatory support the Strategic solutions consultancy team has always been genuine, dedicated and fully aware of the company’s need, We have been pleased with their professional approach: they always meet agreed upon deadlines and when we do have results which require quick evaluation, Strategic solutions consultancy has been remarkably quick and competent in getting us just what we need.
    I would recommend their Services to any company needing this type of support.
    Mr. Farid ElChiati
    Managing Director

    Corplease Emirates

  • ‘It has been a pleasure to work with SSC on different setups, their efficiency and consistency is a definite added value that makes us look no further.’
    Khaled Ali
    Business Development Director

    MTT Systems

  • We are a supplier of aeration systems treating biological waste waters originating from municipal or industrial applications globally. In 2012 we decided to register & establish an SSI office based in Dubai to provide our Regional Manager with a sales & marketing capability throughout MENA. To do this we employed the services of Strategic Solutions Consultancy, Dubai to guide us through the complicated and varied options available. This included, but was not limited to, company formation including an essential & suitable business partner, UAE laws on incorporations, employment, residence visas, banking, accounting etc and the health & medical requirements.
    The journey from the committed concept of a business formation including all these necessary considerations to final success is a maze of papertrails, offices official government departments and it requires the special skills that Strategic Solutions Consultancy offer.
    They successfully took very good care of our needs and our attendance throughout the process was minimal and only when required by law or for medical examinations. We now have a UAE incorporated company, our Regional Manager has a UAE residence visa & is free to travel throughout the regions promoting our products obviously subject to the entry requirements of the countries he visits.
    As a company registered & operating mainly from the USA & UK it was pleasing that our attendance to the processes was limited, the process options were clearly explained, specific needs & costs clearly defined and that our trust in Strategic Solutions Consultancy to achieve our goals was a good investment.
    We have no hesitation in recommending their services to others and would be pleased to provide personal references to anyone requesting that of us.
    Tony Collins
    General Manager

    Stamford Scientific International, Inc.

  • “I have been working with SSC closely for the past 3 years and I have to say they are the best partner when you want to get things done. The challenge for me was to get my work efficiently completed while I am not physically present in the UAE and SSC team was the perfect caliber for this mission. SSC is about finding the right solutions for you and this is what they do best”
    Sherif El Sayad

    Tredco for Engineering Industries

  • Strategic Solutions Consulting helped me to move my company out of its previous freezone location into Dubai proper, which helped Iconsulthotels firmly set its sight on future growth. The process was explained thoroughly and all charges were laid out in a clear manner. The flexible packages offered by Strategic Solutions Consulting made it an affordable choice for a start-up company like Iconsulthotels.
    I am certainly looking forward to a long cooperation with Strategic Solutions Consulting and future growth in the City of Gold.
    Martin Kubler, CEO

    ICH Information Services

  • By facilitating fast, accurate and cost-effective solution in company formation, you have given us the services up to a client’s expectation and satisfaction. Particularly, in the field of licensing and registration. Moreover, with your advises we were able to acquire visas swiftly which has propelled our effort in executing our projects on time.
    All together, we are really impressed with your services and dedication and this is the service that we expected.
    Thank you once again and I will be sure to recommend your services to any of my contacts.
    Naim Chabayta
    Managing Director

    INMA EAST

14,May, 2015

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