The UAE is a rapidly developing state with one of the highest standards of living in the world. Emirates have a rich history in international trade and other business areas and represent one of the world’s largest business and financial centers. The main benefit of this jurisdiction is the current preferential tax regime in the country. Such conditions attract numerous foreign investors and representatives of various business areas in the UAE.
Offshore company formation in Dubai or other emirate is one of the most profitable solutions for international business with the ability to significantly optimize tax and customs duties. The UAE jurisdiction also offers a number of other business benefits. Among such advantages are economic and political stability, flexible and modern legislation, streamlined work of the banking sector, as well as the presence of agreements to avoid double taxation.
Offshore companies in the UAE are able to ensure maximum confidentiality and security of financial assets. Moreover, the state does not have membership in the international organization for economic cooperation, which means it does not exchange tax and financial information with other countries. The United Arab Emirates is a prime example of an effective public policy aimed at creating an enabling environment for doing business.
How to choose the perfect location to set up a company in the UAE
When registering a company in the UAE, it is essential to choose the appropriate type of company for your business, as well as the territory of registration, which will provide the necessary conditions and infrastructure to solve your business tasks.
RAK Free Zone is one of the fastest growing free zones in the UAE. It has already become a world-class business hub, with a highly developed infrastructure and the best opportunities for industrial growth and development. All these transformations have occurred in less than 10 years from the day of the establishment of this zone.
The following features are among the main advantages of this zone:
- strategic location for access to the UAE and global markets;
- attractive investment promotion programs;
- powerful and inexpensive energy;
- developed infrastructure;
- low labor costs;
- 100% foreign ownership of the company;
- absence of export and import duties and commercial taxes;
- 100% repatriation of capital and profits is allowed.
Features of opening a bank account for business in the UAE
The UAE is well known for its recognized banking industry and the high level of confidentiality that banks provide to their customers. An efficient banking system provides favorable conditions for companies to accelerate their economic growth in the country.
Another key reason for the huge demand for opening a business bank account in Dubai is the high level of confidentiality. Reliable protection for customers’ funds is one of the main reasons for the success of the UAE banking industry. Given this, investors can be assured that their confidentiality will be fully respected.
The set of required documentation will depend on the type of activity, number of shareholders, management structure and business plan of the new company in the UAE. To avoid delays, before submitting to the bank, you must ensure that all your documents are properly prepared.
To simplify the process of opening an account or any other procedures related to opening a company in the UAE, it is best to contact professionals, such as S.H Business Adviser. Experts with many years of experience in this field will help you solve any problems when registering a business.