UAE has strongly raised the bars in their Business industry as they make their way to being a recognized business hub in the world. Given that the country is composed of different Emirates, this has paved Investors an array of possibilities for their startup and business expansion. Currently, the UAE has the following operating Licensing Authorities; Mainland, Free Zone, and Offshore.
Albeit all support the registration of businesses in the UAE, the three play different major roles in terms of their fees & tariffs, procedures, and trade-offs. It is highly recommended to have an in-depth understanding of those before making a decision. Choosing the licensing authority is crucial for business operation and productivity.
OFFSHORE business (International Business Companies) are businesses that are not permitted to operate within the country of formation. The jurisdiction declares no taxation for all businesses registered in Offshore or IBC. This is a perceptive act to maximize the assets, and income by mitigating taxes of the beneficiaries. Hence, is an admissible way of wealth management and therefore a complete contrast of tax evasion.
Here are additional reasons why you should go for Offshore.
- 100% foreign ownership is allowed
- Exemption from all corporate and income taxation
- Full repatriation of the profits and capital are allowed
- Purchase of properties on approved areas of the Authority
- No requirement to take on physical premises.
- Ease in registration and documentation
- No annual Audit needed
- Low set up and operation cost
Savvy Setup is a registered agent and one of the top incorporators in the Country associated with the three Offshore Authorities; Jebel Ali Authority, RAK ICC, and Ajman Authority. Savvy is a Team of experienced Business Consultants that is more than ready to assist you on the incorporation.