Offshore
Offshore
Any legal entity established with the purpose of making profit, outside the country of residence is an offshore company. Such a company is often formed in a tax-free haven or an offshore financial center and is also known as International Business Company (IBC) or Non-Resident Company (NRC). Being a Non-Resident Company means that shareholders do not get visa and there is no physical office for offshore company in UAE.
Unlike other tax-free havens of the world, UAE offers a trustworthy and reliable structure to offshore companies because it is an independent country with a glorious record for promoting a rich, flourishing culture for international trade, investment, and business.
Continuing with its zero-tax policy and other forms of duty exemptions UAE is considered as a very attractive destination for prospective investors wanting to establish offshore companies in Dubai. Investors can live, invest, run businesses and manage their offshore companies by being here in the UAE which is an advantage unlike any.
UAE does not have any agreement with any country which makes it binding upon UAE to share or exchange business related information with other governments. Furthermore, UAE has Double Tax Avoidance Agreement with a number of countries which ensures that a company’s products will not become less competitive by getting taxed twice.