The Dubai Miracle, created from nothing, owes much to the emergence of free economic zones (SEZs) here. Created thanks to the far-sighted policies of the leadership of the Emirates, they still contribute to the prosperity of the principality, where the economic boom does not stop even during a recession in world markets.
Jebel Ali, the oldest free zone, established back in 1985, and now, after two decades, remains the locomotive of the Dubai economy. And this is no accident - the offshore companies registered here offer their owners no less ways to earn money than, for example, limited liability companies.
Recall that an offshore company is considered to be having an office in one country, but under the jurisdiction of another. Such firms are flexible mobile structures that are efficient in terms of taxes and doing business, allowing your business portfolio to grow without much hindrance. Such companies associated with the Jebel Ali Free Zone can offer local and foreign investors a range of useful services.
Specific features of an offshore business:
- Up to 100% of the capital may belong to foreigners.
- A company may own freehold property in the UAE — for example, facilities on the Palm Islands constructed by Nakheel or other real estate properties recognized by the Jebel Ali Free Economic Zone.
- If you wish, you can open an account with a bank in the UAE for current financial transactions. Golden Card (ATM) can be used on this account, if necessary.
- The director of the company can count on a resident visa of the Emirates if his company rents an office in the territory of the SEZ.
Advantages of an offshore company:
- Bilateral agreements on the absence of taxation, signed between the UAE and other countries, allow you to fully profit. It adheres to the free trade policy adopted in Dubai in the 19th century.
- Complete business confidentiality. No information regarding the owners and managers of the company is disclosed to any third party; not even monitoring a bank account.
- A highly developed and secure banking system is adapted to the needs of international investors.
However, your company will be allowed to enter into business relations with resident enterprises of the Emirates (as well as conduct any trade in the territory of the SEZ or the UAE as a whole) only when you receive the appropriate license from the competent authority. Accordingly, you can register in the Jebel Ali zone as an offshore company only through an authorized agent to act on his behalf.
One such agent is Kashwani Law Firm. Professional dedication and the presence of a qualified team of experts allows us to provide any services to customers who want to open a business in Dubai.
For more detailed advice in Russian, please contact Kashwani Law Firm.
Tel .: (04) 352 8887.
Fax: (04) 352 5330.
Email: [email protected]
Our website: www.kashwanilaw.com
