Offshore Company Formation | 5 Great Reasons To Register

Offshore company formation: Protected by law, tax reduction, asset protection, estate planning, and documents required

Offshore company formation: Forming an offshore company in Dubai with a bank account is far easier than trying to open a bank account in other tax haven countries like Cyprus, Singapore, Panama, Belize or the Isle of Man (UK).

Please invest 2 minutes of your time to watch the offshore company formation video below. It spells out how you can benefit. Or if you prefer to read, then feel free to skip the video and go straight to the text below:

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

The preliminary purpose of opening an offshore bank account is to save assets.

Offshore companies can offer certain benefits, which an onshore company usually cannot.

Offshore bank accounts are preferred, not only to keep transactions confidential but also to provide you with flexibility with where and how you spend your money.

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

Offshore company formation: Protected by law

• When an offshore company’s corporate bank accounts are opened in the same jurisdiction as the registration of the company, both the banks and the ‘introducers’ feel more comfortable. It also simplifies the opening procedures
• So many businessmen find it convenient to use their offshore company formation with bank accounts so that there is no need to disclose their assets in their tax country
• An offshore company formation with a bank account is safer than opening an offshore bank account in your personal name because privacy laws are increasingly under constant pressure from the US and EU governments

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

Offshore company formation: Advantages

1. Asset protection

• The introduction of assets into an offshore business can offer a safeguard from potential liabilities
• “Hold zero, run the whole thing” is the mantra of some of the wealthiest and most officially protected individuals internationally
• Incorporating bank accounts for offshore companies gives highly efficient asset security and effectively shield your investments from public vision

2. Tax reduction

• Structuring both personal and commercial activities in offshore entities can significantly decrease your tax load
• Offshore jurisdictions give you complete tax exemption, therefore, these tax havens have caught the attention of many legal business foundations over the time
• Therefore an increasing number of worldwide companies, in various markets or industries are choosing to function through these authorities so that they can gain from the tax benefits of offshore companies

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

3. Financial diversification

• For people who reside in financially or politically unstable countries, having your assets overseas is able to guard against financial losses
• For those living in well-organized, ‘developed’ countries, your financial portfolio is very controlled and requires full disclosure that a little confidentiality feels liberating
• For this reason, you should establish an offshore investment

4. Greater financial privacy

• Confidentiality is not only guaranteed but the Emirati law enforces it. You are not required to submit any documentation to any authority
• Many individuals are attracted to this and you feel that your assets and activities are more secure and able to experience annual growth

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

5. Estate planning

• Consider the combined effects of the estate, income and capital gains taxation. Years of your hard work can be minimized and limited by tax legislation and regulations
• The governmental taxation regulations can easily minimize a valuable estate. With appropriate estate planning your venture profits and assets can be passed onto your designated beneficiaries with minimal tax liability and hassle
• To achieve this, structures like an offshore company formation with a bank account is essential due to its many advantages
• Augmenting it with a trust company is also optional
• If you make the appropriate choice based on your circumstances with some professional guidance, you will achieve saving your wealth by incorporation offshore and benefit from the financial structure

In the past, only the wealthy chose offshore company incorporation with bank accounts. There were fewer tax haven jurisdictions, which operated and the cost was high. This is not the case anymore.

With increasing competition from global offshore banking centers and various tax havens, offshore banks operate just like all other banks in the world:

• They issue offshore credit cards
• Debit cards
• Provide all other related services or solutions provided by your local bank

By choosing these services you too can plan where your income should be spent and where your wealth should be retained!

You can benefit from the advice of a licensed and specialized consultant.

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

Offshore company formation: Documents required

Most banks require a one-on-one interview with their potential client or they do due diligence.

However, when an offshore company with a bank account is in the same country, it gives them some confidence because the introducers and capital are located in the same country.

This also provides a degree of insurance for the banks.

The following is the list of documents which are usually required to open bank accounts and get offshore credit cards for an offshore company formation:

• Verification of a permanent address (residence) either by a notary public or by a bank in the home country
• The bank application form completed and signed
• A certified copy of the certificate of incorporation
• A certified copy of the Memorandum and Articles of Association or Articles of Incorporation depending on the country where it is being done
• For the purpose of identification, a certified copy of passport for each signatory, director, and shareholder. Some banks may accept a certified copy of the national photo id (e.g. driver’s license or national identity card)
• A bank reference for all signatories, directors, and shareholders
• A board resolution, which appoints the authorized signatories

If you’re based in the UAE, working there, or doing business there, you may choose from three different subscription packages offered by HABOT. Choose the plan that best meets your requirements to save money on an annual membership to one of the three options. Sign up now.

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