A brand new and highly versatile, secure and tax enhanced offshore company and bank account package is now available to all qualifying Shelter Offshore readers looking for a UAE offshore company together with an offshore bank account in Dubai. What’s more, you don’t have to be present in Dubai or the UAE to establish this extremely flexible package.
If you’re looking for 100% foreign ownership of a UAE offshore company, you want to bank with a leading global institution and have your account based in Dubai, you want potential asset protection benefits, 24/7 access to account funds and no requirement to file accounts, this package could be ideal for you.
This is a bespoke and unique package offered by a third party company to Shelter Offshore, and its suitability for you can be discussed with an offshore company formation expert in case you’re in any doubt about this package’s appropriateness for you. Read on to learn about the features and benefits of the company and the bank account, and to find out how you can apply.
The United Arab Emirates is a favourite location for the formation of secure company vehicles because of its favourable taxation status; however, in jurisdictions like Dubai there is a requirement for a local ownership of shares in any company formed – which is why this offshore package bases the company element in Dubai’s neighbouring emirate of Ras Al Khaimah.
The Dubai alternative for offshore companies is the free trade zone of Jebel Ali – however, here’s how Ras Al Khaimah stacks up as a preferable jurisdiction for your UAE offshore company: -
o Dubai offshore companies through Jebel Ali require a minimum of 2 shareholders
o Their physical presence is required in Dubai to arrange the company formation
o A Ras Al Khaimah (RAK ) company requires only 1 shareholder
o The shareholder is not required to be in the UAE in person for incorporation
o Auditing is required for all Jebel Ali (Dubai) companies
o No auditing or filing of accounts are required for a RAK company
o The cost of Dubai offshore company formation is significantly higher than for the formation of a RAK company
o Ultimately both Ras Al Khaimah & Jebel Ali (Dubai) provide the same end product and result – i.e., the ownership of an offshore UAE company…
As you can see therefore, an offshore company formed in Ras Al Khaimah has all the features of an offshore Dubai company – with many additional benefits!
The UAE offshore company and Dubai bank account package being offered by our preferred partner has the following advantages and characteristics: -
- Swift and very simple incorporation process
- The ability to issue multiple classes of shares
- 100% foreign ownership
- Privacy, confidentiality and protection of assets and information
- Tax free
- No need to file accounts
- Business bank account held with Barclays Bank in Dubai
- Online banking and access to funds 24/7
- Ability to withdraw up to withdraw 50,000AED without notice (assuming cleared funds are available in your account)
- Account available in multiple currencies (e.g., AED, USD, GBP or Euros)
- Ideal package for asset protection purposes
- Free transfer of funds
- You can potentially use this package to own property in the UAE
- As stated, the shareholder/director does not have to be physically present in the UAE for incorporation
- This is a non-EU jurisdiction, and therefore it comes with none of the disclosure requirements of the EU
To establish the company and the bank account you will need to supply the following: -
- A copy of your passport
- A utility bill in your name and with your address
- An original bank reference letter (stating that you as the applicant are in good standing with the bank in terms of your credit position)
- A description of proposed business activities
- Your choice of company name – 3 choices are required in priority order in case your primary choice is unavailable
In terms of the fees and costs associated with the establishment of this company and offshore bank account package, they are a total of just £4,250 for the first year - this covers full offshore incorporation, all first year’s fees and the establishment of the bank account with Barclays Dubai. Company yearly fees are currently £2,500 which includes the IBC fee, nominee director’s fee and a certificate of good standing.
If you would like to learn more about this comprehensive and very attractive package, you want to determine whether it is suitable for your requirements, or you would like to discuss your general position and needs with an offshore incorporation specialist, please contact us today with your details and we will put you in touch with the best person to assist you.
