Company Formation in UAE
UAE has evolved as a leading business hub in the Middle East having connectivity by air and sea to all the major cities of the world. Investors from all parts of the world makes it a second home. Dubai is one of the booming Emirates of UAE and provides various schemes for company formation in Dubai. With its spectacular infrastructure, business friendly atmosphere, easy accessibility along with safety and security makes it the best option for company formation.
- UAE Freezone Company Formation
- UAE Mainland Company Formation
- UAE Offshore Company Formation
Understanding the difference between freezone, mainland and offshore company formation is important if you are planning for company formation in Dubai or UAE. Company formation in UAE include the choosing of license based on your activity, preparing legal documents, opening bank account, visa processing which are found to be cumbersome by the aspiring entrepreneurs.
But with SIMS team, company formation in UAE will never be a difficult task. SIMS is a renowned name for UAE company formation, having established for more than a decade and incorporated hundreds of companies successfully with bank accounts. We are one of the largest incorporators of freezone and offshore companies in UAE.
Offshore Company Formation in UAE
OFFSHORE COMPANIES (INTERNATIONAL BUSINESS COMPANIES) is a company which does not carry out any substantial business activities in its country of formation and is framed in a law of no tax jurisdiction for the purposes of legally reducing any kind of tax payment and enhancing one’s wealth management.
Offshore company setup and opening bank account is an intelligent method of managing assets and income. There is a misconception that offshore company is to evade tax and hide money from Government, which is not correct.
Offshore companies are legitimate ways to structure business and ultimately getting financial benefits.
The most important things to be considered while registering offshore entity is:
- Finding right jurisdiction
- Selecting the Registered Agent
- Opening Bank account
SIMS is one of the largest incorporators in Ajman Offshore jurisdiction and having a perfect professional track record. SIMS is also a highly reputed Registered Agent for RAKICC offshore company setup, since its inception.
Company formation in UAE is completed in 2 days, and to open bank account it takes in 4 days.
Major Offshore jurisdictions in UAE:-
- Ajman Offshore
- RAK ICC – RAK International Corporate Centre (RAK Offshore Company Jurisdiction )
- JAFZA Offshore
OFFSHORE COMPANY & VAT (VALUE ADDED TAX)
VAT (VALUE ADDED TAX) is being implemented in the UAE from Jan 1, 2018 and it may be noted that Offshore jurisdictions and Offshore companies are outside the purview of VAT. Precisely due to this attraction, more investors are seeking the help of Registered Agents to set up company in Offshore.
FEATURES OF OFFSHORE COMPANY
- Non resident company
- No Office is permitted in the UAE. Office of the Registered Agent (SIMS Office address) is the legal address of Offshore company.
- No tax
- No Audit
- No Business within UAE
- No Chamber of Commerce registration, No import export code
- No Visas or Employees
- No Cheque book from bank
ADVANTAGES OF OFFSHORE COMPANY REGISTRATION IN UAE
- 2 days to register company
- Easy documentation
- Low setup cost and low maintenance cost
- Easy to transfer shares, Easy to close the company
- Bank account in UAE with leading UAE Banks
- Registered Agent office address will be the legal address of Company
- Total freedom to invoice Clients worldwide
- Can be kept as Holding company, under which several companies can be incorporated anywhere in the world