The federal state of the United Arab Emirates consists of seven emirates, each of which is a micro-state with absolute monarchy. The capital of the UAE is the capital of the largest emirate of Abu Dhabi, the eponymous city of Abu Dhabi.
To date, the UAE is one of the fastest growing countries in the world, the standard of living in which is one of the highest in the world. The UAE is famous for its rich history of foreign trade and is one of the largest centers of financial and business activity. The Emirates seeks to develop local business and attract foreign investment into the country, which is why the UAE’s tax regime is so friendly: there is no personal income tax in the Emirates for both residents and non-residents. Moreover, there is no corporate income tax for companies with the exception of those engaged in banking and petrochemical activities.
Company registration in UAE has a number of advantages over other jurisdictions, the main among them are the political and economic stability of the country, modern and flexible legal framework, an ultra-modern banking system, the existence of Double Tax Avoidance Agreements (DTAA) with more than 20 countries.
Offshore companies in Dubai
If you have any property or income that would be worth keeping confidential, the choice of registering an offshore company in Dubai would be a very good decision.
The fact is that the United Arab Emirates is not a signatory to any information dissemination or information sharing agreements that are common today around the world. This means that no information about investments, trading, shares or customers should be disclosed.
You can register an offshore company in Dubai, and open a bank account here, or you can open it in any other part of the planet. The advantage of owning such a company is that using it you can own your assets in Dubai and around the world. Any public records about your wealth and assets will not be pointed out to you personally, but to the company, and only you will know that you own it.
We also note that Dubai has very high standards of bank secrecy, which are strictly observed. Details of your bank account in Dubai will never be disclosed to anyone. Even spouses do not have access to banking information until they receive legalized access documents.
The process for registering an offshore company in Dubai is very confidential, simple and fast. Your presence will be required only at the branch of the bank you select to open a corporate bank account of an offshore company and it will take only one day.
Features of opening a company in Dubai free zones
The free zone is the geographically defined part of the city or emirate, which allows 100% foreign ownership of companies without the involvement of a local partner (a citizen of the UAE).
Dubai World Central (Dubai South) is one of the best options for opening such a company. This territory is one of the newest special zones of the Emirates, however the large-scale exhibition EXPO 2020 will be held here.
Main advantages of DWC company formation:
- Registration time does not exceed 20 days excluding holidays and weekends.
- Application is carried out remotely.
- A foreign company in this free zone can obtain a licensing of a commercial, service or production type, which gives the possibility of development in various fields.
- To confirm the income, it is enough to submit the relevant documentation, depositing funds to a bank account is not required.
- It is allowed to open new companies on the territory of an economically free zone, as well as to set up branches or subsidiaries.
- DWC Business Park offers rental of premises for various purposes: offices, storage and production facilities, residential buildings for staff and workers.