Dubai is the seventh emirate of United Arab Emirates (UAE) and expands along the Arabian Gulf coast of the UAE for 45 miles and has an area of 2,400 square miles. The population is Dubai is 2.3 million. Expatriates make up 82% of the population. Arabic is the official language and English dominant language in business.

The discovery of oil in 1966 and prudent economic policies has made Dubai a thriving city. The ruling family, starting with Sheikh Rashid bin Saeed Al Maktoom and succeeded by his son Maktoom bin Rahsid Al Makhtoom and now the current ruler and vice-president of the UAE Sheikh Mohamed bin Rashid Al Maktoom have made Dubai into affluent modern city state.

It is widely accepted the new and current ruler of Dubai Sheikh Mohamed bin Rahsid Al Makhtoom devised the business plan which has been responsible for the unprecedented outbreak of economic activity and huge boom in Dubai’s economy over the past five years.

Advantages of Dubai Offshore Company Formation

Dubai has historical and friendly ties with all countries. The Dubai government has a proactive approach to foreign investment actively promoting the city’s important business sectors in its successful drive to diversify the economy. Dubai is now the undisputed business hub of the Middle East. The city popularity is further enhanced by its modern infrastructure and tax free status.

Dubai Offshore Company Incorporation

Dubai is not a signatory to any international exchange of information agreements. This is not predicted to change as Dubai has no taxation gain from the participation of such treaties. This provides high levels of security, privacy and asset protection for companies and individuals incorporating a company in Dubai.

With the exception of banks and companies involved in the oil industry all Dubai companies are free from corporation tax. There is also no income tax, capital gains tax and inheritance tax.

It is interesting to note that there is no public record of a company’s directors or shareholders in Dubai. There is also no taxation department. The personal information and details of a company’s activities will remain private in Dubai.

Dubai’s Jebel Ali Free Zone offers an ideal offshore company vehicle for foreign operators. Although trading inside the Free Zone can be carried out under several different types of license the most common is a “Jebel Ali Offshore Company”.

A Free Zone Establishment - or FZE - is an establishment formed and registered in Jebel Ali and regulated solely by the Free Zone Authority.

Such establishments must have a capital of at least Dh 1 million and liability will be limited to the amount of paid-up capital. A FZE need only have a single shareholder and is an independent legal entity.

Dubai offshore company may be used for a multitude of activities which many include tax mitigation, estate planning and asset protection. It is possible to hold Dubai property and other assets in privacy through a Dubai offshore structure.

To benefit from Dubai’s superior banking privacy legislation client may establish a offshore bank account in Dubai. Please read our free zone section for further information.

The above information is subject to change as per the government rules and regulations.

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