23 07 2020

Why do people choose the UAE for offshore company formation?

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During the process of choosing a place to open an offshore company, it is very important for businessmen to be able to communicate quickly with the country through reliable and technologically advanced telecommunication lines. And the financial and banking systems must keep pace with the times and be as safe and secure as possible. That is why the structure of the jurisdiction in which it is planned to register an offshore company is so important.

An implicit but very important factor is the tradition and work ethic in the country. At first glance, this factor is not of great importance. But imagine a situation in which it is very important for you to perform an operation in a very limited period of time. Some countries have historically developed cultures of hard work, secrecy and discretion.

In addition to modern means of communication, for the convenience of communication, it is worth considering the difference in time zones. You can easily lose a whole day using e-mail or fax. It is much more convenient to resolve all issues during the working day by means of a regular call. This will greatly save time for you and your partners.

We urge you not to confuse countries called “tax havens” with FEZs in the United Arab Emirates. The main difference is that the UAE is a zero tax jurisdiction by its nature, what cannot be said about other countries.

An offshore company in the form of an IBC has been available since 2003. Dubai has rapidly achieved the title of a business center in the Middle East. And the dynamics of Dubai's growth help it to remain one of the most promising financial and business centers around the world.

Every year more and more individuals and legal entities choose the United Arab Emirates as their main residence. This is due to the government's firm position regarding the absence of customs duties and taxes.

Today businessmen can register an offshore company IBC in Jebel Ali (Jebel Ali Free Zone) in Dubai.