Business Development - Division Dubai :
WHY Setting up IN DUBAI – Why Offshore ?
We provide offshore and onshore business development services in Dubai.
- Offshore Services
- Freezones Services
- Onshore Services
Why offshore in Dubai -because it is by far the most confidential and secure offshore location today. Many of our clients have moved their interests to Dubai from other jurisdictions because they were concerned by new legislation in those places, which seriously eroded their confidentiality and security.
Dubai represents a unique opportunity in the offshore world today. It has a number of key advantages over other locations which, when combined, provide clients with the most confidential and secure offshore solution available anywhere.
Dubai is a very liberal (alcohol is legally and freely available, for example), oil rich Gulf State which has reinvested its oil wealth to produce a balanced economy. The oil sector now comprises only 20% of the country's Gross National Product with the balance being dominated by financial services, tourism, manufacturing and trading activities.
It has a state of the art banking sector to service its wealthy indigenous, expatriate and offshore clientele. Dubai provides banking privacy, which is better than Switzerland, and a lifestyle which is better than Monte Carlo and it has become the new playground of the rich and famous. Property developments of staggering proportions such as The Palm, two man made islands, which will house 80 hotels and several thousand residential units, have made Dubai THE location for high net worth individuals to live and work and for ALL individuals to locate their offshore assets.
Most importantly, there are no taxes of any kind on onshore or offshore activities!
It is not a "tax haven" but a country with no taxes!
Dubai 's key offshore and onshore benefits are;
- no taxes of any sort and no tax department
- no filing of accounts
- no taxation information exchange agreements with other countries
- no public records of directors and shareholders
- highly flexible and confidential banking system geared to the requirements of high net worth international investors
- trong legislation which protects the confidentiality of investors
In summary, Dubai represents the business solution for the 21 Century!
OFFSHORE COMPANY FORMATION
The legislation which governs Dubai Offshore Companies (DOC's) was enacted in Jebel Ali Free Zone in Dubai in May 2003. It provides for a secure environment for investors without the levels of unnecessary intrusion and bureaucracy found in other offshore jurisdictions.
The most significant aspects of the legislation are;
Taxation. DOC's pay no taxes on profits, capital gains or anything else in Dubai.
Shareholders. DOC's must have a minimum of one shareholder. No public register of such shareholders exists, however the registered agent (see below) must retain a shareholders register at the registered office.
Directors. A minimum of two directors are required and they cannot be bodies corporate. One of the directors can also be the secretary. A register of directors must be held at the registered office but it is not a matter of public record.
Annual Reporting. No annual report or accounts need be filled. Accounts must be audited and accounts must be distributed to shareholders (but NOT filed). DOC's may retain their accounting records wherever the directors deem appropriate.
Restriction on Name and Activity. Names must end with "Limited." The following words and their associated activities are prohibited; Banking, Insurance and Re-insurance
Local Requirements. A DOC must maintain a local registered agent approved by the local authorities and a local registered office which the registered agent provides
Minimum Capital. A DOC can select its own minimum capital. We recommend US $100 in US $1 shares.
Class of shares . Only one class of share is permitted
For more information please contact us: ceo@dubainci.com
HOW TO OPEN AN OFFSHORE COMPANY?
The following is what is required to open an Offshore Company.
- Application form to be completed correctly. Download from Website (Sample attached).
- Memorandum of Association & Articles of Association to be completed correctly . Download from Website (Sample attached). Please note that there should be a minimum of one director of the company.
- Submit short Curriculum Vitae.
- Passport copy of Directors. Signed and notarized by a Bank, Lawyer or embassy.
- Each Shareholder / Director should produce a recent bank reference.
- Please Fill in K.Y.C. Form First Application
First Memorandum of Association
First Articles of Association
K.Y.C. Form
FEES AND TIME SCALE
We provide the most confidential and the most comprehensive solution available in the offshore world. Unlike other offshore providers we do not set an apparently low fee structure where everything you really need is an extra.
Our annual fee inclusive business consulting is US $9,499.00
This includes;
All Government and filing fees
b) Provision of registered agent
c) Provision of registered office
d) Provision of Company Secretary
e) Company Bank account opening
f) Messenger charges from and to Dubai
g) Provision of fax and mail receiving facilities (mail and fax forwarding disbursements are additional)
It doesn't include:
1) English official verification of documents necessary for incorporation of companies, or for opening of bank accounts
2) Translations of any documents from or to English
3) Personal consultations (500 USD for 3 hours, each following hour at 300 USD), in Prague only .
Annual renewal fee is: US $5,699.00
Optional items;
1) Personal bank account opening: US $1950.00
2) Commission to nominee directors and/or shareholders: US $ 3,500.00 / individual
Time scale
Incorporation can be achieved in 21 to 23 days from receipt of funds but documents may take 7 days to arrive from Dubai.
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