What is an offshore company
An offshore company does not carry out any substantial business activities in the country of its origin. Also known as non-resident company, it can be owned by individuals or corporate bodies. An offshore company is not allowed to occupy any office physically in UAE. Offshore companies are framed under
the jurisdiction of no-tax laws and the sole purpose is – enhancing one’s wealth management and reducing the possibility of tax payments legally.
The primary reason for incorporating an offshore company in UAE is, total confidentiality over the financial matters with increase in the wealth, without any hassle. The offshore companies are also benefitted with cutting down or elimination of different taxes including Value Added Tax (VAT), death duty, capital gains, property sales and importantly, profits on business earning.