How much UAE visa will cost after increase | GulfNews.com

How much UAE visa will cost after increase | GulfNews.com

What is an Offshore Company and an Offshore Account?

Definition:
An offshore company is a legal entity established in a tax free Jurisdiction or an offshore financial center situated in any part of the World which is also being protected by specific legislation which guarantees a status of full tax exemption.


Major Benefits of having an Off shore 
Companies:

• 100% foreign ownership of the enterprise
• You can have the privilege of the Registered Office Address for your company(It will be the Registered agents Address) without having a Physical Office.
• You can buy Properties anywhere in the World under Offshore Company.
• This would be a “Limited “Company having any amount of shares.
• You have the liberty to Open Bank accounts with Multi currencies.
• This can be a Holding Company in future.
• Open an Offshore Bank Account with Multi – Currency benefits.

Offshore Bank Accounts:

Mostly the Offshore Companies are accompanied by having an Offshore Account with it. All major International Banks support offshore banking. We can even say “Offshore Bank Account” and International Bank Account” are identical. Mostly preferred to be called by bankers as International Bank Account as the term “Offshore” straightly relates to an isolated jurisdiction other than the Account holder resides.

Offshore Company and Offshore Companies are majorly popular in the Countries where there is Heavy Local Personal and Corporate Tax on Individuals and Corporate. In Certain Countries like Britain the International Bankers motivate all the expats to go for an Offshore Bank Account for Various reasons like;

• Tax efficiency or Minimal tax on their savings.
• Completely Anonymous
• More Flexibility and convenience in handling Accounts
• Secured Location for parking their Personal Funds/savings

For Corporate entities these Offshore Accounts are used to conduct International Business by having Multi-Currency facilities and to park their funds where there is Minimal Tax for their earnings or No Tax jurisdictions.  Some Corporate they use these Offshore Companies to act are the Holding Structure or a Special Purpose Vehicle (SPV) for its Group Companies. It also serves as an Asset Protection Platform to High Net-worth Individuals and Huge Corporations in Local and in Abroad. Certain Jurisdictions allow the Registration of Aircraft, yacht and ship under this Offshore Companies.
There are different formations of Offshore Structures that are most Popular Globally

• Offshore Companies or International Business Company  with Bank Accounts
• Offshore joint venture or the Offshore Partnership
• Offshore Trust Account
• Offshore Private Foundation

Some Famous Offshore Jurisdictions to know about:

British Virgin Island: This is one of the Oldest Offshore Jurisdiction and has the Largest number of Offshore Companies.

Cayman Island: This is also one of the Largest asset Management Jurisdiction famous in Many European Countries and in US.

Mauritius: Majorly use for the Investment purpose and quite famous in Asian and African Market

Singapore: Was recently introduced jurisdiction but grown as very Strong wealth Management market targeting all Asian , European and MENA region people.  

Dubai: Quite new to the “Offshore“ industry, have been safe haven for International fund Management and Holding structure. Popular among Arab Nations, European and Asian markets.  

Free Zone Companies in UAE- General Overview

Definition:

• Free trade zone, an area in which goods may be landed, handled, manufactured or reconfigured, and re-exported without the intervention of customs authorities

Make your Dream Come True by having your Own Company for just $ 10,990

Do you wish to have YOUR own COMPANY & RESIDENCY VISA in DUBAI? 

Then, hurry up!!! This summer we are offering one of the finest and Unbeatable Offer on COMPANY REGISTRATION + VISA PACKAGES at MINIMUM COST. This is a Limited Period Offer only.

For more information, please contact me at m.farook@lexbizco.com or visit our website www.lexbizco.com (Special Offers page).

Company fined for hiring illegals

The RAK Naturalisation and Residency Court has found a company owner guilty of recruiting illegal residents and has been slapped with a Dh50,000 fine.

The Court, presided over by Judge Ahmed Al Ameer, has also ordered the closure of the company until it amends the position of all the employees working there in violation of the law.

As for the Arab and Asian workers convicted of illegally staying and working in the country, the court ordered them to pay different amounts of fines in view of their overstay period and other violations.

Court records show the RAK Labour Office, in collaboration with the Illegals Follow-up Section at the Foreigners and Residency Affairs in Ras Al Khaimah, earlier arrested the suspects in intensive raids. The government announced in February, at the end of the amnesty period which allowed illegal residents to exit the country without penalty, that it would begin a serious crackdown on people overstaying in the country.

The company owner also proved to have flouted the set rules and closed his company without notifying the bodies concerned to avoid paying the workers’ pending salaries and arrears.

The RAK Misdemeanor Court in another case, exonerated an Asian worker from destroying the labour camp where he was staying for lack of evidence and criminal grounds.

The court, presided over by Judge Fathi Al Qallaa, said the case unfolded last year when the sponsor of the worker lodged a complaint with the RAK Police accusing his worker of ruining the facilities in his labour camp where other workers are staying.

Struggling to get your Business Incorporated in UAE?

LexBiz Consulting DMCC will be delighted in assisting you to incorporate your Company in UAE and establishing long term business relationship with you for all business endeavors around the world through our global offices. As Start-up Business Consultants, our motto is to keep you focused on the core Business Activity, while we take away the hassle of public relation and other governmental affairs.

For details please contact - m.farook@lexbizco.com

International Offshore Company anywhere in the World

    Offshore Company is a  International Company wherein you can do trading by moving goods Globally and raise Invoice from the Dubai registered Offshore Company. Under this Offshore Company you are not eligible to get any Residence Visas.

The advantage of Off Shore Company are many fold.

·         No taxes         

·         No office        

·         No maintaining of accounts      

There is no personal or corporate tax. No questions asked for taking money out of the country or bringing money in.

For more details, please contact: m.farook@lexbizco.com