Foreign investors are fond of offshore company formation in the UAE due to the wide range of benefits offered by the region. UAE offshore company formation covers three offshore registries: Jebel Ali Free Zone Authority (JAFZA), RAK ICC and Ajman. Each of the three registries provides exclusive advantages to investors wishing to open an offshore company in the UAE. However, you should not forget that an offshore company can be set up only through registered agents in the UAE.
The registered agents can provide a registered address for your company apart from making the process of UAE offshore company registration hassle-free. The below blog discusses the top reasons why foreign investors choose the UAE for setting up an offshore company. Read ahead for more insights:
Setting up an offshore company in the UAE is not a complex process, provided you meet all the mandatory requirements. Unlike in the UAE mainland, you need not run around government departments for approvals and permits to register an offshore company. Since the burden of red tape is nil, you can register an offshore company in the UAE within a few days.
Cost-Effective to Incorporate
The cost of setting up an offshore company in the UAE is less than that of a mainland or free zone company. Moreover, you don’t need to spend a lot for renting an office because the registered agent’s office will be recorded as your registered address. However, you need to appoint registered agents in the UAE who are highly experienced to make the incorporation hassle-free.
A Good Way to Protect Assets
The process of UAE offshore company formation is one of the best ways to protect your assets including intellectual property (IP) assets. The incorporation of an offshore company in the UAE with the right corporate structure helps you build a robust legal wall that secures all of your assets from unwanted lawsuits which you may normally encounter in traditional mainland jurisdictions with the increased visibility of the assets.
If you are a high net-worth individual, the risk of facing such lawsuits from your rivals can be high. By registering an offshore company with JAFZA, RAK ICC or Ajman free zone, you can ensure that the assets that you include in your offshore company are adequately protected from any such legal risks. In this way, the UAE serves as one of the best offshore jurisdictions to incorporate an offshore company for asset protection.
Easy Access to Banking
The offshore registries in the UAE have a good reputation among the banks, which means you can open an offshore bank account in the UAE without much struggle. However, the ease of opening an offshore bank account depends upon your risk profile in view of the KYC procedures the banks are required to comply with. Consult with registered agents in the UAE for more information on opening a bank account in the UAE.
Real Estate Ownership
Unlike the mainland structure, an offshore company allows you to own real estate properties in the UAE. For example, you can own freehold properties in Dubai by opening an offshore company in JAFZA. Registered agents in the UAE can offer you more information in this regard.
A Stable Legal and Political System
The UAE has a stable legal and political system that favours the interests of businessmen. Unlike other countries, the government is not subject to regime changes. This means you don’t need to worry about constant changes in the law.
Hire Registered Agents in the UAE for Offshore Company Formation
International investors opting for offshore company formation in the UAE can enjoy the benefits listed in this blog. Jafza, Ajman and RAK ICC registries offer the companies a robust infrastructure at lower costs. Offshore companies can enjoy the low-tax regime in the UAE with sufficient resources to meet ESR requirements.
However, the companies need to carry out the process through registered agents in the UAE such as Jitendra Business Consultants (JBC). JBC has a team of efficient business setup consultants in Dubai who with their wealth of experience simplifies the re-domicile process. The companies can use the office of the registered agents in the free zone as their registered office. By hiring JBC as the registered agent international companies can seamlessly migrate to the UAE and enjoy the business benefits.