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Today I’m in Dubai in the tallest hotel in the world, awarded by Guinness World of records. So what is a better topic to talk about today than the one about setting up offshore UAE (Dubai) companies?
This is a very popular place for forming offshore companies, probably because it is one of the few clean zero tax jurisdictions.
What’s involved in setting up a company in Dubai? How long does it take? How does it work to set up a residency in UAE?
The most popular type of company in Dubai is certainly a free zone company. With this type of company, you can easily get a local bank account, as well as a residency permit. This can be done quite easily.
In order to operate in the free zone, you’ll need to have some sort of a local presence. You’ll need to have an office or a Flexi desk which is a shared office space that you have access to.
This shared office will usually be included in the cost of forming a company, and the amenities that come with it are often great! You’ll get a place where you can have meetings, filming space, print and copy machine, etc, etc.
After this part has been done, you’ll need to obtain a license. This license will determine what are the substance requirements for your business.
The security check is also part of the process. If you have never visited UAE this will take a little more time. If you have visited UAE in the past you will need to scan your entry and exit stamp, and this security check will be much faster and smoother.
Next step is choosing potential names for your company. After this has been approved you’re ready to be able to apply for a residency permit.
In order to be approved for a residency permit you will need to do a medical in UAE. After this, you will need to go through a stamping process and you’ll get your residency card.
Forming a company in UAE will take around a week. The entire process of obtaining residency will take about a month more or less.
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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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