The United Arab Emirates has emerged as one of the best places to do business and the state of Dubai is at the forefront of the success story. Dubai has fast turned into a regional trade and business hub, which has inspired many businessmen and entrepreneurs to base their companies and startups in the state. Dubai emerged as the best possible destination for any company due to a multitude of factors including its strategic location, availability of excellent infrastructure, abundance of quality human resource, and an amazing quality of life.
The prestigious free zones located in Dubai are fast becoming the ultimate solution to all the companies which are looking for an efficient place to further expand their wings at an international level. These free zones are studded and equipped with a combination of advantages which bode well for the enhancement of any business. Some of the highlights of these benefits include:
- You can continue to enjoy an absolute ownership of your offshore company in a Dubai free zone and you don’t have to share it with any local partner.
- The Dubai free zones allow the companies to completely repatriate their capital and profits without any taxes.
- In order to get your company registered, you need only one shareholder and a company director to complete the process.
- The investors can use any currency as capital to set up the company and they don’t have to deposit that capital in a bank account.
- There is no limit on business diversification.
- The investors not only get exemption from the corporate tax but there is no tax on personal income as well.
- Foreign investors enjoy the visa advantage with a three years validity term for them as well as their staff and family members.
The foreign investors need the following documents to set up an offshore company in Dubai.
- The Articles of Association
- You need to show your residency proof by presenting a utility bill
- The Share Capital
- You have to submit the name of your business or company, which you would have reserved with the Trade Registrar.
- Your offshore company’s name must possess the abbreviation “Ltd”.
- The company must hold a local bank account.
After submission of the above-mentioned documents and formalities, the company is all set to enter the prestigious world of Dubai free zones and make their mark at the international level by making full use of the available resources and facilities.