Dubai is part of the United Arab Emirates and is a well known international financial centre. Dubai offers offshore services which includes offshore banking and the registration of offshore companies. For Dubai offshore registration a local registered agent must be employed by the persons wishing to form the Dubai Corporation. Dubai Companies legislation allows for the registration of the following types of companies the jurisdiction: Dubai General Partnership Companies, Limited Liability Companies, Joint Venture Companies, Public Shareholding Companies, Private Shareholding Companies and Share Partnership Companies.
Dubai offshore company registration is done according to the regulations of the Dubai Commercial Companies Act. Dubai offshore company registration can take up to eight (8) working days, a process which is affordable and will result in a company which has a very good reputation. Offshore company registration in Dubai can be done by one or more persons and this is achieved by submitting to the Registrar of Companies a complete Memorandum of Association as well as Articles of Association and completing a Dubai offshore company registration application form. The information to be included in the Memorandum and Articles of Information is listed below.
- The name of the Dubai offshore company
- The registered address of the company
- The types of business operations the Dubai company will carry out
- The authorized share capital put up by the Dubai company for registration
- Companies limited by shares must state the number of shares which the Dubai company will issue
- The rights, voting rights, privileges and limitation of each class of share
- Companies which are registered as limited liability companies must state the membership interests and how the share capital of the company is to be divided
- The names, nationalities and addresses of the company shareholders
- The nationality, names and addresses of the company directors
- The by- laws of the company
Dubai company registration requires by law no less than two (2) company directors. Dubai offshore company directors cannot be other corporations, they must be individuals. Dubai company directors must be above the age of eighteen (18) and must not hold any criminal records. Every company incorporated in the tax haven of Dubai must appoint a company secretary. Company legislation law does not allow a Company Director to be a secretary. For Dubai offshore company registration just one company shareholder is required.
When considering Dubai offshore registration the name of the offshore company must be chosen carefully. Names for Dubai offshore companies can be reserved beforehand. The names for Dubai offshore companies must be chosen carefully as Dubai company registration will not be considered if company names are regarded as inappropriate. The Dubai company name must b followed by the word limited or its abbreviation. Dubai offshore companies can only carryout the operations which they have been licensed to carry out. Dubai offshore companies are not allowed to carry out the services of banking, insurance or reinsurance.
Dubai company registration presents many advantages. For instances an offshore company registered in Dubai will pay lo local taxes on income which has been earned from carrying out business operations outside of the jurisdiction. Dubai offshore companies are only required to pay a registration fee and an annual license fee. The names of shareholders and directors are not made part of public records in Dubai and the financial information of the Dubai offshore company remains private as it is not filed with the local tax authority.
Dubai offshore company registration is easy to carry out. Dubai offshore companies have the advantage of doing business anywhere in the world and still provide tax planning advantages.