6 benefits of setting up an offshore company
The leading offshore companies in Dubai offer unique and personalized solutions for the businesses and the owners to help them grow their businesses effectively.
There are several benefits of accounting and auditing firms in Dubai. Dubai is the largest hub for modern businesses encourages foreigners to set up offshore companies while providing them with tax incentives and many other facilities to run their businesses smoothly.
Considering the business setups, we have come up with a list of 6 benefits of setting up an offshore company to help you understand its importance in a better way.
They provide confidentiality as offshore companies aren’t required to publish their financial information in public which ensures that all their valuable information isn’t revealed to any third party unless they are suspected of any crimes.
- Tax Incentives
These offshore setups provide many tax incentives to the companies as they don’t have to pay a high amount of taxes. These companies also enjoy many tax exemptions depending on the country.
- Asset Protection
All the assets of these companies are protected under the UAE laws as the companies holding assets are declared as intellectual property or as real estate investments.
- Legal Obligations
These offshore companies enjoy minimum legal obligations and reduced administration as they are cost-effective and easy to set up. Since most of these offices have virtual setup, these companies save a lot of time and money. Even the top accounting firms in Dubai enjoy limited legal obligations.
- Lower Capital Management
An Offshore setup is very beneficial to the business owners as they require minimum capital. The whole registration process is quite easy and offers fewer complications. The offshore registration enables the business owners to save their money and invest it in other important things.
- Lower Maintenance Costs
These companies involve lower setup and maintenance costs as they have a simple process without any hidden charges. Most business owners even hire a management consultant or an agent to help them through the process so they could even handle all the business operations from their own country of residence.
Setting up an offshore company has its own perks and benefits. However, the business owners are required to complete the necessary procedures at the time of its establishment and confirm that they don’t hold any sort of criminal records or involved in any other criminal activities.