The word “offshore” is mainly based on executing, managing and operating in foreign countries with benefits in financial, legal and tax. Kingsway helps in offshore company formation in UAE. So the offshore company formation is the process in which the company operated or managed outside of the country in which it is registered or outside of the country in which owners and shareholders have residence.
Offshore Company formation in UAE process is initiated by one or more persons, who may be either natural or juristic, submitting a signed application form to the registrar of offshore companies, together with the relevant prescribed supporting documents.
It is sufficient to state that the object of the offshore company is to engage in any lawful act or activity for which offshore companies may be organized under the regulations. The proposed capital of the offshore company shall be stated in the application form. The information required on an application form should include the full names and addresses of the shareholders, the number of shares proposed to be held by them and the value of the shareholdings. In addition the names and addresses of the directors (minimum 1 director shall be nominated, shareholders may nominate any other person/persons to act as director/s of the company), name and addresses of the registered agents and any other particulars that the registrar may require. The application form should also be accompanied by the offshore company’s proposed memorandum and articles of association.
In addition to the application for registration of the offshore company and the proposed memorandum and article of association, the following documents needs to be submitted to the Registrar:
- Personal profile of applicant
- Passport copy of applicant
- Bank reference letter
- Proof of residence (utility bills like water/electricity bill evidencing the address of the applicant)
- Director’s passport copy (shall be one director minimum, shareholder can also become a director)
- Power of Attorney in favor of our office to pursue the incorporation process. (Draft will be provided by us) notarized and legalized up to the UAE Embassy/consulate in the country of execution.
- Certificate of registration of the company duly legalized and attested by the UAE Embassy/Consulate in the country of origin.
- Certificate of good standing of the company duly legalized and attested by the UAE Embassy/Consulate in the country of origin.
- Memorandum and Articles of Association of the company (Applicant Company) duly legalized and attested by the UAE Embassy/Consulate in the country of origin.
- Bank Reference letter.
- Board resolution calling for the establishment of an offshore company, appointment of directors (minimum one director) and appointing our office as the company legal representative duly attested by the UAE Embassy/consulate in the country of origin.
Upon submission of all the required documents and payment of the prescribed fees, the registrar issues a certificate of incorporation evidencing the incorporation and also allocates a registration number to the offshore company.
We are registered agent and one of the market leaders in offshore business consultancy offering solutions to clients looking to minimize taxes, protect assets and limit liabilities.