Offshore Companies In Dubai | Get A Cost Effective Business Company
Offshore companies in Dubai: Discover quick tips, advice and costs to set up your own virtual office in Dubai using an offshore company
What is a virtual office?
Offshore companies in Dubai: A virtual office is a business location that exists only in cyberspace. It is a cost-effective solution for individuals and small businesses planning to relocate their business or for those who want to work from home.
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A virtual office allows business owners to work from any location using laptop computers, cell phones, and internet access, which offers significant savings and flexibility.
Offshore companies in Dubai: What an offshore company can and can’t do
An offshore company can do business in the Middle East and around the world and purchase property in approved areas in Dubai but it can’t conduct trading activities in Dubai or within the United Arab Emirates.
How to set up a company and a virtual office
Here’s how a company is set up in the Jebel Ali free zone:
- Suggest three names for the company. One will be chosen by the registration authority
- Decide the scope of activity the company will be involved in
- Decide the share capital
- Name shareholders, partners, directors, and secretary
The following documents must be provided to the agent, along with applicable fees:
- Notarized copy of passports of the shareholders and directors
- Proof of address for each, a utility bill in their names, showing a street address, will do
- A bank reference letter
- A brief resume of each of the shareholders
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The agents will apply for company name approval. An application form, Memorandum of Association and Share Certificates are signed by the shareholders, directors, and secretaries and submitted.
If all is in order, a company can be registered within three working days and you will receive a Certificate of Incorporation, Memorandum of Association and share certificate. You can now start a business.
Only free zones in the Northern Emirates offer the set-up of a virtual office. They will usually require at least a half-page description of the proposed business to see that it complies with their regulations.
The process for setting up a business and a virtual office can be time-consuming. A consulting company will help you decide on the best free zone in which to set up your office and will then deal with all of the paperwork involved.
Each free zone operates by their own rules and regulations. If your business is registered as service-based, you can work with any other company in the UAE (free zone or mainland).
Offshore companies in Dubai: Costs
The costs for setting up a virtual office vary from one free zone to the next. At a minimum, expect to pay about 24,000 Dirham (approx. 6,806.33 USD), which includes a business license and registration fee for a year, as well as permitting a maximum of two visas.
Some free zones offer business center amenities with hot-desks on a first-come-first-served hydra com basis. In such cases, the minimum fees start at 35,000 Dirham (approx. 9,528.87 USD), with a maximum of four visas permitted.
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