Offshore Banking in UAE

Offshore Dubai

Dubai has developed into one of the world’s leading financial centres offshore. Dubai authorities have worked hard to elevate Dubai to the level of global recognition...

Dubai Offshore Companies

Dubai offshore companies can be incorporated as Companies Limited by Shares, Limited Liability Companies and Recognised Companies, which are among the three main types of Dubai...

Dubai Offshore Banks

Dubai offshore banks are regulated both by the Central Bank and the Financial Services Authority. Dubai offshore banks provide their services solely to individuals and businesses that are...

Dubai Offshore Companies

Dubai offshore companies can be incorporated as Companies Limited by Shares, Limited Liability Companies and Recognised Companies, which are among the three main types of Dubai offshore companies. Dubai offshore companies are licensed by the Dubai Financial Services Authority (DFSA), which regulates all financial services that are carried out in the Dubai International Financial Centre (DIFC).

Dubai offshore companies that have been licensed and authorized to conduct business in the DIFC enjoy a 50 year tax break. This 50 year tax exemption however does not come to an end after 50 years and is automatically continues/renewed as long as the Dubai company conducts its business in the financial centre.

For Dubai offshore company formation, the Registrar of Companies must be provided with information pertaining to the company’s name, the address of its registered office, the nature of the business conducted by the company, the value of shares authorized by its members, and the share distribution among members. These details are required for all Dubai offshore companies which must be limited by shares or LLC’s, Limited Liability Companies.

Further information that is needed for Dubai company incorporation include the names, addresses and nationalities of the members of the Dubai offshore company. Dubai offshore companies registration can be done by people of any nationality and corporations from any country provided that they meet all criteria and due diligence standards for Dubai company formation. An agent must be contacted for company formation Dubai since it is not possible to incorporate a Dubai offshore company with the Registrar without going through an agent. Dubai offshore companies are corporations and therefore are legal persons. Because of this, offshore companies are able to own offshore bank accounts in their names, take legal actions, issue and take loans, invest and conduct the normal activities of a natural person. Under The Companies Act (2009), Dubai offshore corporations are required to have legal personality distinct from their members and shareholders, which makes it possible for the liabilities of a Dubai offshore company to be separate from that of its members.

A Dubai offshore company is not allowed to be a member or shareholder in a company which is the holding company of that Dubai offshore company. As a result of this, transfers or distribution or membership interests of a Dubai Limited Liability Company to its subsidiary are rendered null and void, except under special clauses stated in the Companies Act which regulates Dubai offshore companies. It is very important to make note of this stipulation for Dubai offshore companies because of the widespread use of offshore holding structures by offshore companies.

Dubai offshore companies must have their Memorandum and Articles written in the English language, and must be laid out in numbered paragraphs. It is possible for the Board of Directors of the Dubai International Financial Centre to recommend Articles that a Dubai offshore company may use. When done like this, these articles are called Model Articles and a Dubai company has the choice of adopting these Model Articles as its own.

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