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Offshore

Offshore company benefits and challenges

Nowadays the United Arab Emirates is one of the most popular and attractive jurisdictions for setting up an offshore company

Here is some benefits of registering offshore company in UAE:

Secondly, the offshore company in UAE ensure a high level of confidentiality and anonymity same as stable and reliable politics in UAE. That has been attracting investors, entrepreneurs and businessmen from all over the world to be a part of dynamic business environment

Finally, there is no obligation to have more than one director of the offshore company making the businesses personnel planning even easier. This will reduce your need to involve other people in the organizational process. There is no need to have any board of directors meeting or officially annual auditing.

Speaking about main challenges with UAE offshore companies is of course an opening of a corporate bank account after company is formed. It can be stressful.

Unfortunately, during the last five year, countries with low taxation system and especially international business companies like offshores received bad reputation due to tax evasion issues and money laundering. Therefore, UAE banks are currently cautiously on-boarding any offshore companies.

New and tough international regulations on banks plus strict guidelines, make this process harder and harder. However even these issues might be resolved with a right approach.

Those who are looking to get a corporate bank account for their offshore entity in the region are recommended to hold a UAE resident visa and Emirates ID along with a local residential address to proof their commitment to local economy.

We also advise creating a robust business plan and strong company profile to increase chances of account opening. Landing page or website that demonstrates your suppliers and customers also will be a big plus to get through bank compliance department.

Having a physical office or any similar facility either in UAE or somewhere abroad where related company is registered, which owned by the same shareholder, along with Utility Bills also is a must nowadays, as this present your venture in a better light during your application.

To that end, it is worth taking advice from a company incorporation and corporate bank account opening specialist to set you on the right track. The cheapest route is not always the best option

This will help you to save your time, money and a world of pain in paperwork and administrative hassles: essential for any new company investing in its future.

FreeZoner will be able to provide you with such an assistance. Contact us and forget about above mentioned problems
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