business establishment & outsourcing management consultants

Company incorporation - Dubai

Offshore Companies IBC (DOCs) - Dubai

Offshore companies have the combined benefits of tax exemption, anonymity, privacy protection and limited liability. The legislation which governs Dubai Offshore Companies (DOCs) was enacted in Jebel Ali Free Zone in Dubai in May 2003. It provides for a secure environment for investors without the levels of unnecessary intrusion and bureaucracy found in other offshore jurisdictions. All companies registered by WSR are fully legal and able to conduct their business activities world wide.

The most significant aspects of the legislation in Dubai are the following:

  • - Privacy Protection: Anonymity and nominee services through lawyers
  • - Shareholders: DOCs can have a minimum of 1 (one) shareholder
  • - Directors: A minimum of two directors are required and they cannot be bodies corporate. A register of directors must be held at the Registered Office but it is NOT a matter of public record
  • - Liability: limited liability without any paid up capital requirement
  • - Taxation: legal tax exemption DOCs pay no taxes on profit, capital gains or anything else in Dubai. There is no taxation on any kind of income DOCs pay no taxes on profit, capital gains or anything else in Dubai
  • - Financial standing: no requirements on profession or financial standing and business can be conducted internationally
  • - Annual Reporting: No annual report or accounts need be filed. Accounts must be audited and accounts must be distributed to shareholders, but they do not need to be filed with the authorities. DOCs may retain their accounting records wherever in the world the directors deem appropriate
  • - Restriction on Name and Activity: Names must end with “Limited”. The following words and their associated activities are prohibited: Banking, Insurance and Re-insurance
  • - Local Requirements: A DOC must maintain a local Registered Agent approved by the local authorities and a local Registered Office which the Registered Agent provides
  • - Minimum Capital: A DOC can select its own minimum capital. We recommend United States Dollars 100 in $ 1,00 Shares
  • - Class of shares: Only one Class of Share is permitted.

The Bulgarian Commercial law allows for the following types of business organizations:

Company incorporation procedure

The company formation procedure in Dubai typically takes 5-8 working days. The company is incorporated using the name chosen by the client. Although we will try to keep the procedure as simple for our clients as possible, the legal requirements are more complicated than in other jurisdictions such as Seychelles, Belize or British Virgin Islands. CSU will administer the whole incorporation process, preparation and filing of all registration forms on your behalf. Upon receipt of the filing confirmation from the authorities, you will receive an e-mail stating all registration details and we will then forward the premium binder containing all the official certificates and documentation. Please note that opposite to most other offshore jurisdictions companies incorporated in Dubai are subject to accounting and auditing. This can be an important issue regarding the traceability of funds. Besides, the company needs to have a physical office space in Dubai which will also serve as registered office. The fees for a local office start at approximately €500 per month.

Documentation required to set up an Offshore Company in Dubai

  • - Application Form to be completed correctly. Download from CSU website (Sample attached)
  • - Memorandum of Association & Articles of Association to be completed. Download from website (Sample attached). Please note that there should be a minimum of two Directors of the company.
  • - Certified Passport copy of Directors.
  • - Each Shareholder / Director should produce a recent bank reference

Please note ALL documents have to be notarized.

Company formation Dubai Offshore IBC

Company formation including the following services: €5.000

  • - Company name check
  • - Drafting of the Memorandum of Association
  • - Drafting of the Articles of Association
  • - Preparation of registration forms
  • - Filing with the registrar of companies
  • - Payment of filing fees
  • - Certificate of incorporation
  • - Share certificates
  • - Premium binder with all certificates
  • - Minutes of board meetings
  • - Resolution to open a bank account
  • - Resolution to rent an office
  • - Resolution to appoint a company lawyer
  • - Resolution to appoint an accountant
  • - Employment agreement
  • - Limited power of attorney
  • - Register of Directors
  • - Register of Shareholders

Additional services

  • - 1 year registered office: €2.000
  • - 1 year registered agent: €2.000
  • - 1 year maintenance and offshore flat tax: €2.000