Dubai Offshore Company
Dubai offshore companies are directed by the 2009 UAE Companies Law. Dubai offshore company formation is a rapidly budding offshore business due to the noteworthy economic paybacks gained by UAE offshore companies formations.
Under the act for UAE companies, a number of types of UAE offshore company formations are allowed. Of notable mention are these Dubai companies: the UAE Company Limited by Shares, the Limited Liability Companies (Dubai LLC), UAE partnerships (Limited Partnerships, Limited Liability Partnerships and General Partnerships) and Investment Companies and Special Purpose Companies.
UAE companies operating off shore are classified as DUBAI offshore companies and do not pay corporate taxes in Dubai on the offshore company (i.e. money that is earned out of the Dubai) income.
Some Dubai offshore companies do have the freedom to operate within the UAE in special business areas called free zones. By so doing these offshore Dubai companies benefit from particular incentives that exist for investors and Dubai offshore companies that are encourage UAE trade and business.
The Dubai LLC is founded on a concept similar to the US Limited Liability Company (LLC), whereby members are not referred to shareholders because of the membership interest that they hold rather than a share interest. Management of this Dubai offshore company is taken care of by the members who may also choose to employ a manager from outside manage the affairs of these Dubai offshore companies, the Dubai LLC.
Dubai offshore company formation starts with the preparation of the Articles of Incorporation. The articles of offshore companies in Dubai, must follow the requirement for Dubai offshore company formation. Besides Dubai offshore companies and the Dubai LLC, Dubai offshore companies also include Recognised Companies which generally refer to foreign companies that are allowed to conduct UAE business within the UAE as either an onshore or offshore Dubai offshore company. Dubai offshore companies must have a local agent in the UAE.
Dubai companies structured as limited partnerships can be set up for any lawful business purpose. Only one person is required to incorporate offshore companies in Dubai as Dubai offshore companies. There are no restrictions on the number of people that this type of Dubai offshore company can have but at least one person must be a general partner and take up responsibility for the debts of this Dubai offshore company. In addition to this Dubai Company the limited partnership, limited liability partnerships and general partnerships can also be used for Dubai business as Dubai offshore companies.
There is no specific tax regime for Dubai offshore companies and Dubai domestic companies since both types of Dubai companies are able to engage in international trade and benefit from the tax enticement and exemptions that are obtainable by every Dubai offshore Company.