Category:
Incorporation >> Incorporation Around the World
More and more businesses are now incorporating their companies abroad to get some kind of tax relief or to avail certain tax breaks. Incorporating a business overseas is the perfect solution for those corporate entities that wish to not only expand their business, but who dream of entering the global market place and doing business. Offshore incorporations are not only exclusively meant for the wealthy, who have plenty of money to invest, but are also meant for small businesses as well.
Starting a corporation abroad means that businesses will not only reap the benefits of lower taxes, but will also enjoy the protection of their assets as well. With an increasing number of corporations and individuals now taking advantage of incorporating their businesses overseas why shouldn't you. In the last decade Bank of America increased its offshore earnings by up to 50%, while Citibank experienced a 75% increase in profits from offshore sources. These figures show that incorporating a business overseas is not only lucrative but is also financially viable and a sound business decision as well. Incorporations in Dubai.
A small city located in the middle of the desert, Dubai has grown from a barren wasteland to a corporate haven for business men and women from all over the world.
Dubai is now rapidly gaining popularity as one of the most cosmopolitan and diverse cites in the world. A major trading port for the Middle East for over six centuries, Dubai is now attracting trade and investors from all across the globe. Providing easy access to both the Asian and European markets, Dubai is now listed as one of the top cities to do business in with its flexible taxation polices and employment rules. A major re-export base, Dubai has also achieved a reputation of being a world center for gold and other precious metals.
Features of incorporations in Dubai
More and more businesses are now incorporating their companies abroad to get some kind of tax relief or to avail certain tax breaks. Incorporating a business overseas is the perfect solution for those corporate entities that wish to not only expand their business, but who dream of entering the global market place and doing business. Offshore incorporations are not only exclusively meant for the wealthy, who have plenty of money to invest, but are also meant for small businesses as well.
Starting a corporation abroad means that businesses will not only reap the benefits of lower taxes, but will also enjoy the protection of their assets as well. With an increasing number of corporations and individuals now taking advantage of incorporating their businesses overseas why shouldn't you. In the last decade Bank of America increased its offshore earnings by up to 50%, while Citibank experienced a 75% increase in profits from offshore sources. These figures show that incorporating a business overseas is not only lucrative but is also financially viable and a sound business decision as well. Incorporations in Dubai.
A small city located in the middle of the desert, Dubai has grown from a barren wasteland to a corporate haven for business men and women from all over the world.
Dubai is now rapidly gaining popularity as one of the most cosmopolitan and diverse cites in the world. A major trading port for the Middle East for over six centuries, Dubai is now attracting trade and investors from all across the globe. Providing easy access to both the Asian and European markets, Dubai is now listed as one of the top cities to do business in with its flexible taxation polices and employment rules. A major re-export base, Dubai has also achieved a reputation of being a world center for gold and other precious metals.
Features of incorporations in Dubai
There are several salient features of incorporations in Dubai, some of which are as follows:
- In the interest of protecting national companies, the United Arab Emirates (UAE) passed a Commercial Companies Law in 1984, which stipulated that a minimum of 51% equity should be allotted to a UAE national by all foreign businesses.
- There are six identifiable types of business that can be initiated in Dubai; they include limited liability companies, general partnerships, joint ventures, public shareholding, private shareholding, and shared partnerships.
- Since limited companies have proven to be popular with foreign investors, a foreign partner can now control the entire operation by incorporating a clause in the business's memorandum of association.
- In Dubai the minimum capital requirement for an incorporated company is $82,000.
- While there is no corporate or personal tax in UAE, there is however an import duty of 4%.
- In order for foreign nationals to take advantage of the tax-free status of the country, the government created ten free trade zones. These zones accommodate 2,872 international companies, which enjoy a range of benefits, such as
- 100% foreign ownership
- no corporate tax for 15 years
- freedom to send home capital and income
- no personal income taxes
- full immunity from import duties
- no currency restrictions
- easy access to a world class port
- a well developed infrastructure
- no employment or recruitment issues &
- an attractive working environment
- There are four different types of licenses available in Dubai. One is a special license issued to companies established outside the UAE. The second is a general license given to companies previously holding a valid license from the Dubai Economic Department. The third is a national industrial license is for manufacturing companies that are either registered inside or outside the UAE. And the fourth and final license is a free zone entity license, which allows a company to be 100% foreign owned and has similarities to a LLC.
