Dubai is popular for many things, and a shining economic prospect is one of the city’s major highlights. As a result, many people want to invest in Dubai, sighting ample investment opportunities and state-sponsored benefits. For luring the investors, the authority has constantly improved on the ease of doing business index. As a result, the company incorporation in Dubai has become more accessible today.
So, why should a person invest in Dubai? What are the benefits of investing in this city? Read the following section of this article if you are searching for the answers to these questions.
Benefits of Investing in Offshore Company in Dubai
Dubai is a booming city in various business sectors. From real estate to information technology, multiple industries have indicated massive upcoming growth in the near future. But is that the only reason to invest in an offshore company setup in Dubai? Find an answer in the following section.
- No Physical Office Required
Do you know that you can setup an offshore company in Dubai without having a physical office? Today, the virtual workspace has become a reality, and thus authorities in the UAE allow the companies to operate on the virtual platform. Many business-friendly companies do not offer such facilities to investors. But, you can get the facility of running a virtual offshore company by investing in the UAE.
- Low Cost for Offshore Company Formation
Investors can start their offshore companies through the three jurisdictions in the UAE. The formation of an offshore company through these jurisdictions is a hassle-free affair, and you can complete the process with a minimal budget. The stakeholders and directors do not have to disclose their bank account statements.
- Fast and Hassle-Free Process
Every investor wants a faster company formation, and the UAE is an ideal destination for investors for this reason. An offshore company formation through the three jurisdictions in the UAE takes around 5-7 working days. The process involves simple formalities, and you do not even need to have an offshore bank account for the offshore company formation.
- No Fear of Double Taxing
The UAE authority has signed the Double Taxation Avoidance Agreement with more than 80 countries worldwide. Therefore, you pay taxes on your income once you invest in this country. Offshore companies do not have to pay VAT, corporate taxes, and other taxes. As a result, it is simple to invest in Dubai and run an offshore business without facing double taxing concerns.
- Multiple Currency Transactions
An offshore company in Dubai can easily operate in multiple currencies. Since offshore companies work with worldwide clients, they need foreign currency transaction facilities. The banks in the UAE offer such facilities to offshore businesses. Therefore, running an offshore business from this country becomes a smooth affair.
You need to have an offshore bank account for foreign currency transactions, though it is not mandatory to have an offshore bank account for company incorporation in Dubai. Emirabiz is the place to obtain professional guidance on opening a business in Dubai, UAE. The company offers end-to-end assistance in offshore business formation.