Offshore Setup

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We are pleased to inform you as registered agents of Ajman Free Zone Authority, we can help you setup your company in Ajman offshore, the newest entity, in a cost effective and fastest way possible!

 WHAT IS AN OFFSHORE COMPANY?

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  • Offshore companies are described as companies that conduct an insubstantial or zero volume of business within their jurisdiction of incorporation. The Offhore company also known as International Business Company (IBC) registry allows foreign investors to register offshore companies under any Offshore authority through registered agent, work over there as a division of Investment authority without the need to establish a physical presence in that country.
  • An offshore company has a restriction to do business inside the country where it is formed. It also works as a vertual company, you can open bank account and operate international business. We provids our consultancy and PRO Services to form offshore company. We do all documentation and process of all departments including preparing MOA, Application form and document submission.
  • Offshore companies are companies that are incorporated in a jurisdiction different from the one where it carries out its business activities or companies incorporated in offshore financial centers.
  • Offshore companies what some call a tax haven, referred to this term in a country which exempts from tax foreign investors who have bank accounts or set up companies in its territory. At that make no economic or commercial activity and are termed non-resident companies.
  • These companies are controlled by foreign enterprises or individuals that conduct their business in other parts of the world and using the tax haven only as a legal address of the company.
  • We assist you to open a bank account within UAE.

Isn’t it illegal to move assets offshore or have ‘offshore bank accounts’?

There is nothing illegal about transferring assets and funds offshore. It is everyone’s right to minimize personal or corporate tax bills in own country or residence or origin. You might be breaking the law by not disclosing the information to your tax authorities when you do not declare assets or profits that should be declared according to your domestic tax code, and in this case you may be subject to certain penalties and fines or even more. The key element is if your assets and profits are ‘reportable items’ and when they must be reported. Using offshore structure properly is one of the legitimate and reliable methods to reduce your tax burden.Furthermore its 100% Legal to setup your offshore company in UAE through Ajman Freezone Authority. As a registered agent of Ajman Freezone Authority we will help you in all legal documentation to setup your offshore company in Ajman freezone Authority Just in 1 day.

Woman meeting banker to set up her own business

When and for whom

The offshore company formation is beneficial-

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  • For those who wants to legally do business internationally for example trading online and selling products on Amazon , Ebay etc & want to have business account in order to receive payments legally without paying any taxes thats why we call offshore as Tax Heaven
  • For those who wants to create an offshore company to act as a holding company of the existing or proposed entity, owned by them
  • For those who have lots of companies in other jurisdictions around the world it is beneficial to create a holding company as an offshore company thereby saving or minimizing the taxes
  • It is advantages to open an offshore company for those residing in politically or otherwise unstable countries to protect their wealth
  • To minimize the legal and regulatory requirements
  • For those who wants to open multi currency bank accounts in other countries
  • For those who wants to invest or buy assets/property etc in another countries
  • For those who have privacy issues
  • Expatriates working abroad can utilise an offshore company to minimize tax liability in their home countries. The company where they are working can pay his/her salary at a reduced amount as to minimise the tax liability and the balance amount can be paid to the offshore company.

LEGITIMATE USES OF AN OFFSHORE COMPANY

  • Purchase of other assets such as properties avoid lengthy probate issues and own property and land to avoid capital gains tax.
  • International Trade – exchange of capital goods and services
  • Sea Borne Assets Ownership – Such as Yachts, Ships, Ro-ro’s etc.
  • Tax Planning and re-routing transactions
  • Protection of Intellectual Property
  • Opening oh Holding companies to consolidate operational powers
  • Licensing & Franchising.
  • Asset Protection.
  • Confidentiality.

Legislative Benefits

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Shareholders

Minimum of one shareholder. No Public register of shareholders exists, however the registered agent must retain a shareholders register at the registered office.

Directors

 A minimum of two directors are required and they cannot be bodies corporate. register of directors must be held at the registered office but it is not a matter of public record.

Taxation

No taxes on profits, capital gains.

Shareholders

No annual report or accounts need be filed. Accounts must be audited and accounts must be distributed to shareholders.

Legislative Benefits

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Ajman offshore offers several benefits to its investors; some of them are
  • Anonymous and discreet – Ajman Free Zone Authority Offshore has a closed register and does not participate in any information exchange treaties. Outside Governments/authorities aren’t privy to information regarding your company.
  • No foreign currency restrictions
  • Repatriation of offshore company profits and capital
  • Flexibility to own AFZA approved freehold properties while taking advantage of 47 UAE double tax treaties
  • Low Startup Cost as compared to onshore companies
  • Freedom to claim ownership to your patents, trademarks, copyright, and other such intellectual property
  • Speedy Incorporation Process – Company Incorporation Documents can be issued within 1 working day!
  • 100% Tax Free – No corporation tax, income tax or VAT
  • 100% foreign ownership permitted
  • No Paid up Share Capital or Audit requirement
  • Globally respected jurisdiction
  • Convenient and flexible Bank Account Opening

Benefits of an Offshore Company

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Why Incorporate Offshore

By utilising an offshore company, it may be possible to secure a number of advantages. In the following notes we outline some of the structures which are available and give examples of uses which may be made of offshore companies. This is not intended as an exhaustive demonstration of offshore possibilities and we would always remind clients that the tax and other benefits which can be obtained by use of offshore entities usually depend upon the country of residence of the beneficial owner and its anti-avoidance legislation and regard has to be had, too, for the requirements of any other country with which the offshore entity might carry on its business. we will be pleased to advise you on all aspects. Typical uses to which an offshore company might be put :

Trading Companies

An importing or exporting company might establish itself in an offshore area. The offshore company would take orders directly from the customer, but have the goods delivered directly to that customer from the manufacturer or place of purchase. The profits arising out of the difference between purchase price and sales price would then be accumulated in either a tax free or low tax area. With such trading companies, it is important to choose an offshore area which has good communications as shipping and other documentation may be critical to the scheme.For Example you buy products from supplier in china and ship them to USA in order to sell it on Amazon and receive payments online in your business bank account

Holding Companies

Use may be made of an offshore holding company which would fund the operation of subsidiaries in various countries so that the subsidiaries obtain the benefit of tax deductions on interest paid. If the holding company is situated in an offshore area where there are no income or corporation taxes and no requirement that dividends must be paid, then the profits which are accumulated in the tax free climate can be used to fund the requirement of subsidiaries or reinvested as business convenience suggests.

Investment Companies

Funds accumulated through investment companies set up in offshore areas can be invested or deposited throughout the world and whilst generally returns or interest payable in respect of these funds will be subject to local taxation, there are a number of offshore areas in which funds may be placed either in tax free bonds or as bank deposits where interest is paid gross. Similarly, in many offshore areas no capital gains taxes are applicable.

Shipping Companies

The use of offshore shipping companies can eliminate direct or indirect taxation on shipping. Shipping companies may own or charter ships, the profits from which activities can be accumulated tax free. Tax and legal requirements generally dictate that the offshore company wning a shipping vessel should be incorporated in the jurisdiction whose flag the ship flies. The historic havens for these purposes have been Panama and Liberia. Latterly, the registries of other nations have expanded and consideration might be given to registrations at British Ports of Registry such as those in the Isle of Man and Gibraltar. A certain prestige attaches to the registration of a ship or indeed a yacht at a British port of registry and the vessel can be surveyed at most ports throughout the world by a surveyor recognised by the UK Department of Trade and Industry. The British flag has always been regarded as one of the world’s most dependable.

Property Owning Companies

There are often great advantages in using an offshore property holding company for the purpose of holding an overseas property. Advantages of offshore property ownership include avoidance of inheritance tax, avoidance of capital gains tax, ease of sale which is achieved by transferring the shares in the company rather than transferring the property owned by the company and reduction of property purchase costs to the onward purchasers. Taking the example of investment in property in the United Kingdom by an offshore company, use of an appropriate offshore vehicle can offer relief from income tax, capital gains tax and inheritance tax. It should be remembered, in particular, that when a non resident company disposes of a property investment, no capital gains tax is charged and holding through an offshore company removes the application of inheritance tax which would apply if a non-domiciled investor held a UK property in his personal name.

Probate and Privacy

A high net worth individual with properties or other assets in a number of countries may wish to hold these through the medium of a personal holding company so that upon his demise probate would be applied for in the country in which his company was incorporated rather than in each of the countries in which he might hold assets. This saves legal fees and avoids publicity. Again, not everybody wishes to advertise wealth and an individual may wish to hold property through an offshore entity simply because of the privacy which the offshore arrangement gives.

Professional Services

Individuals who receive substantial fees in respect of their professional services in capacities such as designers, consultants, authors or entertainers, may assign or contract with an offshore company the right to receive those fees. The offshore employment company may not have to pay tax on its profits which can be reinvested in a tax free climate to generate further income from the offshore company. Payments to the individuals concerned can be structured in such a way as to minimise their tax liabilities.

Patent, Copyright and Royalty Companies

An offshore company can purchase or be assigned the right to use a copyright, patent, trademark or know-how by its original holders with a power to sublicence. Upon acquisition of the intellectual property right the offshore company can then enter into agreement with licensees around the world who would be able to exploit the intellectual property right in various countries. It is thought preferable to acquire, for example, a patent at the patent pending stage before it becomes very valuable so that the capital payment for the acquisition of the patent can be set at a lower amount. Often royalties paid out of a high tax area attract withholding taxes at source. In many cases an interposing holding company may allow a reduction in the rate of tax withheld at source.

Main Features

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  • It does not need to have physical offices in the UAE.
  • It may not carry on business within the UAE.
  • It may have non UAE resident as director or shareholder.
  • It may have UAE resident as director or shareholder with NOC’s if they are employed
  • Shareholder/director to be physically present in the UAE for incorporation Own real estate in UAE with prior authorization from AFZ and the respective Emirate.
  • No UAE Residency Visa.
  • It may not do banking and insurance business without special license.
  • It may maintain bank accounts and deposits in the UAE or worldwide.
  • It is not obliged to maintain its books and records.
  • It may hold shares in other UAE and worldwide companies.
  • It may own yachts registered in the UAE.

Main Activities

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  • General Trading or Online Selling on Amazon , Ebay etc
  • Consulting & Advisory Services
  • Holding Company Investments and Joint Investments Company (Buy/Hold/Sell stakes of companies)
  • Property Owning (Subject to the respective local laws of each Emirate, City and Country)
  • International Services
  • Professional Services
  • Shipping and Ship Management Companies
  • Commission Agents Company – Intermediary Brokers (IB’s)

Prohibited Activities

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  • Insurance
  • Banking
  • Financial
  • Professional Services
  • Consulting
  • Media
  • Security
  • Publishing
  • Movie Production
  • Gambling
  • Casino
  • Game & Win (Raffle coupons)
  • Real Estate Brokerage
  • Military
  • Education

Main Features

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  • Certificate of Incorporation
  • Memorandum of Association
  • Articles of Association
  • Share Certificates
  • List of Directors and Shareholders
  • Company Stamp
  • All Government and filing fees
  • Provision of registered agent
  • Provision of registered office and disbursements
  • Provision of Company Secretary and administration services

Registration Process

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  • Ajman Free Zone

    Certificate of Incorporation & Articles of Association will be issued in 1 day by Ajman Freezone Authority

  • The Client

    Client Approaches Registered Agent USH International Business Man Services

  • The Registered Agent

    We as Registered Agent will Prepare all documents and Get it signed by client

  • Bank Account Opening

    Bank Account Opening, USH International Business Man Services provides assistance to open a bank account in UAE, we have great relationship with local banks, we do not charge any additional fee for such services, Banking assistance is complementary from our side.

Required Document

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Payment for opening offshore company
  • Passport copy.
  • Proof of residence – Telephone bill; or – Electricity bill; or – Water bill; or – Bank statement; or – Bank reference letter from your bank showing that you have personal account with this bank mention residence address of residing country. (not older than 3 months,)
  • Name of the company (2-3 of your choice)The name of the Company needs to end with the words: – Limited – Corporation – Incorporated – Unlimited – or abbreviated Ltd, Corp, Inc or SA.
  • Payment Of AED7500/-to the bank account of USH INTERNATIONAL BUSINESS MAN SERVICES L.L.C

Steps for Information

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Step 1

You have to Contact us through email or phone for free consultantion regarding your offshore business setup in Ajman Freezone UAE

Step 2

You have to provide us required documents and 3 company names for your Offshore Company. Names should not contain Dubai, Ajman, Forex, Finance, Bank, Insurance, or names of any famous people or country

Step 3

Once Name approved you have to make payment for offshore registration

Step 4

We will email you official application form and Articles of Association (You have to print it sign and return us original documents)

Step 5

We will Present the documents to the Registrars office for Verification

Step 6

We will courier you original Certificate of Incorporatison along with Articles of Association and Company Stamp