An offshore company is a company which does not conduct substantial business in its country of incorporation and is formulated in a law of no tax jurisdiction for the purposes of legally minimizing any type of tax payment and improving one's wealth management. Primarily one would open an offshore company to gain confidentiality over their financial affairs and grow wealth without intrusion.
- Offshore companies can eliminate many types of tax payments such as Capital Gains, Profits on Business Earnings, Property Sales, VAT etc.
- Features of a UAE Offshore Company
- One person required for directorship/shareholder
- No minimum capital requirement
- No Tax/Duty
- 100% foreign ownership permitted
- UAE offshore bank account
- No accounting/auditing or reporting requirements
- No requirement to deposit the capital in the bank
- Nominee services through professional lawyers
- Privacy protection
- Company can own real estate properties in UAE