Establishing offshore companies in Dubai

Dubai is considered one of the most prominent global destinations for establishing offshore companies in Dubai, thanks to its advanced economic environment and modern infrastructure. Among the options available to international investors, offshore companies stand out as a popular and attractive option in Dubai, thanks to their unique benefits that include enjoying tax exemptions and asset protection.

In this context, Itqan Company plays a pivotal role in facilitating the process of establishing an offshore company in Dubai , as it provides a comprehensive range of specialized services aimed at simplifying procedures and ensuring that new companies comply with all local and international laws and regulations. Thanks to its deep experience and specialized team, Itqan Company provides investors with optimal solutions that help them achieve their business goals efficiently and smoothly.

This article will review the basic steps for establishing an offshore company in Dubai in cooperation with Itqan Company, highlighting the advantages it offers, and how the company can help you overcome challenges and meet your business needs with the highest level of professionalism. By partnering with Itqan, investors can focus on growing their business while the company handles all the legal and procedural details necessary to establish their offshore company in one of the most attractive markets in the world.

Establishing offshore companies in Dubai

Steps to establish an offshore company in Dubai

If you want to establish an offshore company (a company in a financial center outside Dubai), here are the basic steps to follow:

1. Choosing the type of company: Before starting, determine the type of company you want to establish, such as a limited liability company (LLC) or a joint stock company.
2. Choosing a geographical location: Select the financial center in which you would like to establish the company. It could be another country in the UAE or a country outside the UAE.
3. Research and Planning: Conduct the necessary research about local laws and regulations in your chosen financial center. Make sure you understand all the requirements and costs associated with setting up a company there.
4. Preparing the necessary documents: Prepare the required incorporation documents approved by the local authorities in the financial center, such as the articles of association, the company’s incorporation agreement, and any other necessary documents.
5. Submitting the application: Submit the application to establish the company to the local authorities in the financial center, and make sure to follow all procedures and submit all required documents.
6. Obtain necessary approvals: Wait for final approvals from local authorities, and complete any additional requirements that may be required to complete the incorporation process.
7. Company registration and obtaining licenses: After approval, register the company and obtain the necessary licenses to start business operations in the financial center.
8. Commitment to financial reports: Make sure to commit to submitting annual financial reports and tax obligations required according to local laws in the financial center.
9. Monitoring and Maintenance: Follow the latest developments and changes in financial laws and legislation, and undertake periodic maintenance of the company’s position to ensure constant compliance.

Documents required to establish an offshore company in Dubai

To establish an offshore company in Dubai, the following documents are usually required:

1. Passport copies: for all shareholders and directors concerned with the company.
2. Memorandum of Association: Defines the company’s structure, objectives, and how it will be managed.
3. Articles of Association: It specifies the rules governing the company’s work and the relationships between shareholders and managers.
4. Authorization to establish the company: If there is a lawyer or legal consulting company that carries out the incorporation procedures on your behalf.
5. Lease contract or office title deed: Proves your right to use the office or commercial space within the free zone chosen to establish the company.
6. Business Plan: A document that outlines the company’s goals, operational and financial plans, and future projections of profits and losses.
7. Qualifications certificates for directors or shareholders: if required by the type of company or activity.
8. A recent financial report: It can be requested in some cases as evidence of the company’s financial capacity.
9. Correctly signed and filled out application form: which is submitted to the competent authorities in the selected free zone.

Costs associated with setting up offshore companies in Dubai

The costs of establishing an offshore company in Dubai may vary based on several factors such as the type of company, the free zone chosen, and the size of operations. Here’s what these costs typically include:

• Company establishment fees: Includes company registration fees and a permit to establish it in the free zone of your choice. These fees vary based on the type of company and services provided by the free zone.
• Costs of legal consultations and lawyers: You may need legal consultations to prepare the necessary legal documents such as articles of incorporation and articles of association.
• Annual License Fees: There may be an annual renewal fee to maintain a company’s business license status.
• Rental costs: The cost of renting an office or commercial space within the selected free zone.
• Additional services fees: There may be fees for additional services such as logistics and administrative support provided by the free zone.
• Costs of opening a bank account: Fees for opening a business bank account for the company.
• Insurance costs: If there are insurance requirements for the company or employees.
• Labor costs: Work visa costs if you need to hire employees.
• Financial transaction costs: The costs of financial transportation to cover capital or international transactions.

Advantages of establishing offshore companies in Dubai

Establishing offshore companies in Dubai has several strategic advantages that make it a preferred destination for international investors. Here are some key advantages:

• Tax exemptions: Dubai provides a favorable tax environment where offshore companies enjoy complete exemption from income tax for certain periods of time, which helps improve profitability and reduce tax costs.
• Ease of incorporation procedures: The procedures for establishing offshore companies in Dubai are easy and fast, allowing operations to be completed efficiently and without major complications.
• Confidentiality of Information: Offshore companies in Dubai enjoy a high level of confidentiality and privacy in business operations and financial information, which ensures great protection of assets and business information.
• Asset Protection: The legal structure of offshore companies provides effective protection of assets against legal and financial risks, which enhances the company’s stability and sustainable growth.
• Easy access to global markets: Thanks to its strategic location as a global economic heart, Dubai provides opportunities for offshore companies to reach multiple markets efficiently and easily, which enhances the possibilities for growth and expansion.
• Forming a flexible structure: Offshore companies in Dubai allow investors to form an organizational structure that suits their specific needs, including choosing the appropriate legal structure and good distribution of roles and responsibilities.
• Low operating costs: Compared to some other global markets, operating costs in Dubai are relatively low, which enhances investment attractiveness and improves rates of return on investment.

In short, establishing offshore companies in Dubai provides investors with distinct opportunities for global growth and expansion, with the possibility of benefiting from a developed and tax-friendly business environment, which makes it an ideal destination for establishing and operating international businesses.

In conclusion, establishing an offshore company in Dubai is considered an ideal strategic step for investors and companies looking for a flexible and safe business environment. By cooperating with Itqan Company, you can benefit from their in-depth experience in this field, making it easier for you to achieve your business goals effectively and efficiently.

Itqan Company provides comprehensive support during all stages of establishing the offshore company, starting from choosing the most suitable for you from the free zones, to providing specialized consultations, and completing the legal and administrative procedures quickly and professionally. Thanks to their experience and extensive network of relationships, Itqan can provide you with a clear vision and innovative strategies to avoid obstacles and facilitate all aspects of the establishment process.

The most important frequently asked questions about establishing offshore companies in Dubai