Dubai is one of the favorite destinations for investors looking to set up a business that will maximize profits while minimizing expenses. With the best Dubai offshore company formation services, you can trust that you are in good hands and simply focus on the growth of your corporation. Here are some of the reasons for setting up an offshore company would make you a lot of money.
Set up Procedure is Fast and Easy
Compared to many other business destinations, Dubai has one of the easiest procedures to set up a company. It is made even easier by the fact that you can depend on the best Dubai offshore company formation services to handle all the paperwork involved and securing licenses and everything else that you need.
It can take a maximum of seven working days to register your company. And everything is done in English which makes it much easier to understand the documentation process as well as the guidelines for setting up the company, unlike other countries that may have a different official language.
Dubai is a Tax Haven
This may have a negative ring to it mainly because most of the media reports about tax havens, but there is nothing illegal about this. Dubai offshore companies are granted zero tax and it is all part of the UAE law. This doesn’t mean that you will not pay any taxes at all. For example, if your offshore company conducted business directly with the UAE, then there may be some taxes that you will have to pay.
However, UAE has tax treaties with 50 countries that allow members to set up offshore companies and they will be 100% exempted from taxes. For foreigners, this may be a bit confusing and may take some time to get used to, but that is what offshore formation services are, therefore, they will walk you through all this and you do not have to worry about breaking any law or ending up in the media as someone dodging taxes.
Now think of the amount of savings you would be making every year if you do not have to pay extra taxes for business deals you make every year.
The taxes you wouldn’t have to pay include: capital gain tax, withholding tax, and personal income.
Large Presence of Professionals
Because of the appeal of doing business and the many multinational companies setting up businesses in Dubai, professionals are moving to UAE to seek employment. It is a lot easier to find professionals from various countries in the UAE than you would in so many other countries with free-zones. Since many of the professionals are already in the country, the cost of employing them is reduced. They already have housing and many of them are approved to work in the country. You wouldn’t have to bring people from your country to run the business. Many recruitment companies can help find the right people for the job.
At the same time, there are no restrictions on hiring foreign employees, a large chunk of the workforce in UAE is made up of foreigners.
You Can Take Advantage of Asset Protection
For people from countries that are a hotbed for litigation, an offshore company in Dubai would be the perfect way to protect your assets. When you set up a company in the UAE and you register your assets in the country, that property is protected by UAE law, this means that an ex-business partner in your country would have to file a lawsuit in UAE if they want to take your assets but the laws in the country protect offshore businesses from frivolous litigation. You would be saving a lot of money in litigation costs by having your assets registered under your offshore business and remember there will be no taxes on those assets.
Even though this may be confusing and complicated, there are service providers who can either explain everything to you or manage the entire procedure with your approval.
Dubai is strategically located for International Business
When thinking of going international, location is a big issue. Dubai ticks most of the boxes for a great location. It is right in the heart of the Middle East, not so far off from Europe and very close to North Africa. There is easy interconnectivity between the different continents and lots of business opportunities available to offshore companies.
Are you Ready to Go Offshore?
You can speak to advisors about the possibilities open to you for setting up a company in Dubai. You would need to discuss your goals and expectations so that they can give you the best service ideal for your needs. Once you are up and running, you will see the benefits of doing business in the UAE.