The main goal of every business is to maximize profits and minimize expenditures. In many countries, tax policies are strict up to the point when the real profit decreases considerably. This is why business owners all around the world tend to open offshore companies or start businesses in the UAE free trade areas, such as Dubai World Central free zone, Umm Al Quwain, Dubai Multi Commodities Centre, and many others.
How Does an Offshore Company Work
Nowadays, many business people want to know whether forming an offshore company will help them enhance their businesses. So, what is offshore company? The key purpose of an offshore is to reduce tax expenditures as much as possible. In order to create a prosperous offshore company, it is required to choose a country with the most advantageous tax policies and an offshore scheme. Local specialists will provide you with any information needed regarding the schemes and will help you in choosing the most suitable one. Opening an offshore company in the UAE includes a number of benefits:
- A foreigner can own all the shares. No local intermediary is required;
- There is no income tax;
- Banking services and operations are available at affordable prices;
- Conducting business in the UAE is extremely safe and confidential.
Dubai World Central Free Trade Area
Another highly demanded spot for starting businesses is the DWC free zone. This area is currently under construction, but international entrepreneurs are already interested in what this zone has to offer. There are plenty of opportunities for companies engaged in logistics, trading, residential construction, aviation and more. The UAE government is interested in providing favorable conditions for business owners. This is why there are many advantages to working with the DWC. The foreign capital is not restricted, and the import of services and goods are tax-free. Moreover, shareholders, their family members, and company workers will be able to obtain UAE residence visas.