If you’re someone who has a global outreach vision and who is planning to set up a new company or a start up in a mega city like Dubai, you’re at the right place. The mega city of Dubai has one of the most amazing infrastructure, state-of-the-art transportation facilities, amazing mix of locals and expatriates, diversifying economy, stable political setup, consistent economic policies, and the local rulers have the urge to make it one of the most environment-friendly cities in the world. If you’re looking for the right advice about the Dubai offshore company formation, the attached link will let you get consultancy from one of the best companies in the United Arab Emirates.
Dubai is an ever-growing city, which now has become a second home to around 80 percent of its population which consists of top-quality human resources from over a hundred countries of the world. If this fact is boding well for the country, then it also is a great omen for your brainchild which would have the opportunity to survive in a diverse society.
There are many options available to the foreign entrepreneurs to set up their businesses in Dubai, some of which are listed below.
- Foreign entrepreneurs can avail the Mainland Option, which allows them to form an onshore company in Dubai. In this regard, he or she may require a UAE-based individual or organization to be the sponsor of the business. According to the UAE Federal Law, the local sponsor is eligible to have 51 percent major stake in the onshore or the mainland company in Dubai. The local sponsor is a great help in many ways as he will be your guarantor to the local government. One can get the onshore company registered with the Dubai Economic Development which takes care of the different tasks like cancelling, renewing, issuing, and upgrading the business licenses in Dubai. Their offices are located at many places in Dubai, which are a great help in facilitating the foreign investors and business owners.
- The second option to establish your company in Dubai is the free zone option. This has been the most favored option among the foreign investors over the last many years. By setting up an offshore company in the free zone, you get to enjoy 100 percent ownership of your company
Let’s take a look at some of the key features of an offshore company based in a free zone:
- You are 100 percent owner of your company.
- You can always diversify your business.
- No need to pay any personal or corporate income tax.
- The company’s documents get cleared at the quickest.
- The foreign offshore companies are not only allowed to choose the currency for their business dealings but they are also allowed to repatriate their full capital and profits.
You may also consider RAK Free Zone company formation by clicking on the attached link.