Understanding How Offshore Companies Work
The offshore businesses in Dubai are registered in the country but are let to establish their foundation in the offshore regions that are situated in the outskirts of the city. The offshore business setup in Dubai can take on the form of:
- Limited partnerships
- Limited companies
- Liability companies
Step by Step Guide to Kickstarting Your Offshore Company in the Emirates
In addition to the mentioned benefits, the offshore business setup in Dubai is not only simple but can also be completed with a handful of weeks. The process of offshore company formation begins with application filling that runs inclusive of all the mandatory details followed by documents like
- Valid photocopies of passport that belongs to the shareholders
- Preferred business name
- Shareholders’ proof of residency
- Comprehensive information regarding the business type
The Process of Offshore Business Formation is Easy
The UAE offshore company formation in Dubai is transparent and is never delayed unless of course either your documents or the application contains some kind of errors. This is the reason why you must always look forward to partnering with reputable Dubai company formation experts who can help you prepare the documents and applications to make sure the documents and paperwork are all error-free. The consultants can also offer help in the form of investor applications, employee visas, and corporate bank account opening.
- Name Your Business, to Begin With
One of the mandatory steps involved in the offshore business setup in Dubai is to name your business and get it registrar-verified. But when naming your company, make sure not to include the mentioned words like Emirates, Finance, Chartered, Royal, Trust, Chamber of Commerce, Municipal, Fund, Municipal, Cooperative, Building Society, Bank, Insurance. Irrespective of the business, the name should either be with Ltd. or with Incorporated.
- Fill The Application Form and Submit the Important Documents
Once you have chosen the name of your company for offshore business setup in Dubai, you have to fill the application form by submitting a bunch of relevant documents which runs inclusive of:
- A meticulous business plan for about at least 3 years.
- Authentic bank reference or you can also provide your bank-stamped monthly bank statements of about 6 months.
- Address proof
- The resume of the shareholders
- The passport copies belonging to the shareholders
- Business activity
Once you have gathered the important documents, you have to submit them to the related authority who will analyse them and offer you relevant approval.
- MOA and AOA Drafting for International Business Trading
After you have done the aforementioned steps, it is time for you to draft the Memorandum of Association followed by the Articles of Association. Both of these documents should be drafted in English and hold immense value for international trading. Once you are done with preparation, the authority will review the documents. And right after they have approved your documents, you can kickstart the offshore company setup in Dubai with ease.
- Opening of the Offshore Bank Account to Get Things Started
The final step involved for offshore business setup in Dubai is opening the offshore bank account. The offshore bank account opening helps in a smooth business transaction. For the opening of a bank account, you can seek help from the offshore jurisdiction.
These are some of the important steps that are required for setting up a company formation in Dubai. With these points and guidelines in mind, you can proceed further with the process. However, for those who find it difficult, you can always seek help from Dubai company formation experts who holds special expertise in the field of company launching.
