You must have heard the name of offshore company but many of you are not aware of what an offshore company is! Basically and offshore company is one that is built in the territory of another country. The basic purpose to establish an offshore company is to get the appealing tax structures and to expand the business. People prefer the formation of offshore companies so that they conduct the business operations easily.
You can easily register offshore company in Dubai but you need to fulfill all the requirements for it and you need to follow the complete procedure. Dubai is encouraging investors to invest in the offshore company formation and providing them with the ease in everything related to the formation of company in freezones.
There are some facts related to offshore companies which you don’t know about. Some of them are
An offshore company is a company that gets established in another country and follows the rules and laws of that company
The thing which entrepreneurs like about offshore company is that they don’t get to face so many expenses. The company is obliged to pay minimal taxes. The country where you start an offshore company decides upon taxes. Taxes vary greatly, it depends on that country. Don’t expect every country to give you the same tax relaxation.
How to establish it?
To establish an offshore company you need to follow certain guidelines which includes
You need to get a memorandum and you need to have the article of association which tells about the type of your business, membership rights, the objective of the company and things like that.
You need to get a certificate of incorporation from the registrar of companies to prove the existence of your company; else you won’t be able to form a company in that country.
Moreover you need to have a certificate of Incumbency which clearly shows that the company is in good form.
If you form an offshore company then make sure that you maintain all the necessary records and the reports of financial audit so that you don’t face any problem afterwards when you are asked regarding any legal document.
Who to reach out?
If you are unsure regarding the company formation and don’t know the correct person for it the best for you is to take the help of registration agents. You can find the registration agents in any country. They will provide you the valuable assistance in this matter. Suppose you are looking towards setting up a business in Dubai, it I vital that you take the help of a registration agent.