RAKICC offshore Company registration will save your hard-earned income and increase the profitability of your company ensuring that you reap maximum benefits from your undertaking. Offshore companies are also opened to benefit from the complimentary tax structures or double tax treaties that are offered by some countries.
- 0% Tax on income.
- 100% ownership in your company.
- No Inheritance or any other taxes.
- Incorporation cost in the Middle East is economical.
- You don’t need to spend time and money getting various Embassy and Ministry of Foreign Affairs attestation if you are using the company in the Middle East.
- Simple Know Your Client documents required.
- Also, Double Tax treaties are applicable to these companies.
- Also, these companies can own assets and properties.
Such company can be incorporated in the jurisdiction of UAE which offers following benefits:
The offshore possibility has basically been set up to cater for companies who need to have a regional “tax relief-invoicing-facility” – There is no minimum capital required and also no need to set up an actual office facility. The off-shore regulations have been issued according to new international standards and companies will have to register minimum one director per company & open a bank account. Each company must hold annual general meetings (possible also by proxy) and in short perform and act as a normal company. The company regulations have been made out in strict conformity with new anti-money laundering measurements.
Offshore companies are allowed to deal only with:
(a) Legal consultants, accountants, management companies etc. carrying on business within the UAE,
(b) Any bank in the UAE for the purpose of conducting its routine operational transactions.
(c) If an offshore company wishes to conduct trade or other business in the zone or elsewhere in the UAE, it must obtain the appropriate license to conduct the trade or other business activity from the competent authorities.
An owner/director can get residency by setting up subsidiary.
Minimum 1 shareholder, 1 director required & 1 secretary. (Can be the same person)
- 3 suggested names of the company.
- Passport copies of all the Shareholders & Directors.
- CV of Shareholders & Directors.
- Original Proof of Address of all the Shareholders & Directors (it can be any utility bill having complete address).
- Original Bank Reference Letter of all Shareholders.
- UAE Entry Stamp or Residence Visa Copy ( For UAE Residents )
We always recommend to get in touch with you consultant for more clarity.