If you want to get the benefits that follow having a business in Dubai but do not have the resources to do so, you have come to the right place. Offshore companies in Dubai are the best option for those wanting to have ownership in Dubai without actually living there.

In this article, we discuss the full process of how to set up an offshore company in Dubai. Furthermore, we give you the information you need to know to set up an offshore company in Dubai. Let’s observe:

1. What is the definition of an offshore company?
2. Why have offshore companies become so popular in Dubai?
3. What are the benefits of an offshore company?
4. What kind of companies can become offshore in Dubai?
5. How can I set up an offshore company in Dubai?
6. How can Connect Zone help you set up an offshore business?

1. What is the definition of an Offshore company?

For many, picturing a place where businesses don’t have to give up a big part of their revenue on taxes would simply be a dream. Additionally, imaging anyone could form a company in any corner of the world and not pay taxes seems rather unreachable. However, in today’s world, this is certainly a handy option for business owners.

An offshore company allows businesses to operate outside their juridical registration. In a nutshell, this means that it is possible to register your company in a country you do not reside in. If that specific place we talk about is Dubai, suddenly that dream world we mentioned seems just around the corner.

See more details on how to set up your business in Dubai

There are two jurisdictions available for offshore companies in Dubai. The Ras Al Khaimah and Jebel Ali Free zone are free-taxation zones offering 100% ownership for foreign entrepreneurs. These jurisdictions allow start-up companies to have the benefits of a Dubai company while remaining in a foreign country.

The Ras Al Khaimah is known for having a big influx of foreign Investors. Entrepreneurs from all over the world are usually attracted to its booming economy, innovative architecture, and business-friendly policies. On the other hand, Jebel Ali accounts as one of the free zones with the most international companies. Jebel is amongst the firsts free zones established in the UAE, being among the most progressive zones for businesses.

Click here to learn more about 100% ownership in Dubai 

2. Why have Offshore companies become so popular in Dubai?

Over the past few decades, we have been able to see the rapid surge of these so-called offshore companies. Because of Dubai’s promising economy, many startup companies have become interested in getting Dubai’s jurisdiction and becoming offshore companies.

There are multiple key factors that attract and invite entrepreneurs from all over the world to invest and set up their businesses in Dubai. Overall these attractive features focus mainly on helping business owners to grow their companies both nationally and internationally.

If we consider the amount of revenue international enterprises have to give up in taxes alone, it’s no surprise because offshore companies in Dubai became so popular. For instance, business owners that lack access to a residence visa in Dubai and don’t want to pay an absurd amount of money in taxes can opt for getting an offshore company in Dubai.

Here you can find all the information you need to get a UAE resident Visa

Additionally, because of Dubai’s business-friendly policies, there aren’t many restrictions for foreign companies to get an offshore jurisdiction. In fact, getting an offshore company in Dubai can be rather easy when backed with the right assistance. For that matter, here at connect zone, we offer you the best assistance to get your company registered hassle-free, with the help of our capacitated professionals.

3. What are the benefits of an Offshore company?

Depending on the jurisdictional area you choose, the benefits that offshore companies in Dubai receive vary. Besides this, there are various observable differences regarding the requirements and features of offshore companies in Dubai.

For example, getting an offshore registration in JAFZA, can allow you to have local real estate ownership, while a RAK jurisdiction cannot. Differences like this depend mostly on the policies established for each offshore registration zone. However, that isn’t to say that one zone is more favorable than the other, it is just about determining what zone suits you best.

See all the details you should know about the JAFZA free zone

3.1. Here are some of the benefits that a JAFZA jurisdiction can offer

100% foreign ownership – A minimum of one shareholder is required for offshore companies in Dubai located in the JAFZA Zone. Naturally, full foreign ownership is possible to obtain with this jurisdiction.

Shareholding in local companies – Despite the emphasized prohibitions for offshore companies to do business with locals, the authorities do allow shareholding in local companies and free zones companies.

Real estate ownership – One particular feature of the JAFZA offshore companies is the permission for real estate investment. This means that JAFZA offshore companies can directly own real estate. However, to do this you will first need to have a development approval and a free zone approval.

Anonymity – There is no need for public disclosure when it comes to offshore companies in Dubai. In the JAFZA Zone, it is not a requirement for offshore companies to disclose any information about the shareholders or directors in any public register.

Access to a local bank account – Getting access to a local bank account could be considered one of the most essential tools given to offshore companies in Dubai. Additionally, with a local bank account, you will be able to do multi-currency transactions both nationally and internationally.

3.2. Here are some of the benefits that a RAK jurisdiction can offer

100% ownership for foreigners – As we are speaking about offshore companies in Dubai, the main benefit of getting a RAK jurisdiction is being able to own your business without a local partner involved. Furthermore this jurisdiction requires a minimum of one shareholder to get a RAK jurisdiction.

Fast incorporation – Thanks to the diligent and rapid services of the RAK registration process, companies can be registered within one week. If you want to get your RAK jurisdiction within no time, Connect Zone can help you make sure all your documents are error-free. Furthermore, our team of specialized VAT professionals can register your company hassle-free as well as assist you on any bookkeeping or tax service you may need.

Company administration – While it is a requirement for your company to have at least one secretary and one director, there is no need to disclose any information about your company’s administration to the public.

Shareholder’s anonymity – As well as we previously explained for the administrative activity of your company, there are no requirements for you to publicly disclose information about your shareholders.

Local bank account access – Just like the JAFZA jurisdiction, the RAK jurisdiction provides access to a national bank account. Further allowing your business to do both national and international multi-currency transactions and invest in local companies.

3.3 Some of the most general benefits that Offshore companies in Dubai can get may include:

• Tax neutrality for both national and international company profits.
• A stable economy and a business-friendly legal system.
• Provides security to companies with trademarked content.
• Easy setup process.
• Trading commodities, both nationally and internationally.
• Complete anonymity of your name. This will not be in any public documentation.

4. What kind of companies can become offshore in Dubai?

Now that you know the benefits offshore companies in Dubai have, let’s check what companies fit into the offshore model. For instance, knowing what kind of license your company needs is crucial. This is because there are only a certain number of licenses available for offshore registration.

For that matter, here at Connect Zone we want to help you through the entire registration process. From personalized assessment for your company, to register your company hassle-free in the right jurisdiction with the right license. Our team of VAT specialized representatives can give you the assistance you need during the extension of this process.

Now, let’s determine what specific licenses are available for offshore companies in Dubai:

International trading License – In an offshore trading company, it is possible for you to contact consumers directly. This means that you can receive and send the orders, and additionally deliver the products directly to a manufacturing company.

Get further insights about the new E-trader license in Dubai

Professional license – This license is available for businesses focused on providing professional services. The professional service industry is a big part of the offshore companies in Dubai. They mostly account for professional assistance in legal or administrative areas.

Commercial license – Offshore companies in Dubai that hold commercial licenses account mostly for property holding. This includes specific cases in which offshore companies are bought with the only purpose of holding a property in a low-cost zone and distributing the shares as desired. Examples of these cases can be inheritance procedures or marital divorces in which the shared need to be distributed.

5. How can I set up an Offshore company in Dubai?

Considering the ever-growing economic scene that we can see Dubai becoming, it is no surprise that the offshore market is growing faster than ever. With all the benefits and facilities that Dubai offers to newcomers, it is only imaginable the amount people looking to get offshore jurisdiction in Dubai.

5.1. Here are the steps you need to take in order to get an offshore registration:

Select your company’s name – This name has to be original. For that, Connect zone has an already established registration process to help you verify the name you chose hasn’t already been claimed.

Select the right activity for your company – Choosing the right activity your company will do is crucial. With that information Connect Zone can help you get into a jurisdiction that suits best your company.

Select the right license – This will ensure you that your company is in fact capable of operating in an offshore jurisdiction. This is because, depending on your company’s operations, there might not be a license that suits your company. In order to avoid that, Connect Zone has a team of experienced specialists ready to help you select the most suitable license for your company.

Gather and send the required documentation – By this point you’ll have to submit the pertinent documents required for offshore companies in Dubai. These documents include; proprietorship documents of the company you are registering and personal documents.

5.2. What documents do I need to register an offshore company?

While establishing an offshore company in Dubai may sound simple, there are a few requirements that you need to meet in order to get there. This is assuming that you have the legal knowledge to submit all of your documentation free of error and with the right information in it.  Here is a list of all the documentation you will need:

• A reference letter from your bank – This will have a summary of all the transactions you have done with it over the past six months.
• The memorandum of association of your company – This document will show the information and positions of all the shareholders in your company (In case there are more than one).
• Current jurisdiction of the company’s owner.
• Copies of the passports belonging to the shareholders and employees.

6. How can Connect Zone help you set up an offshore business?

Getting an offshore company in Dubai isn’t as simple as it may sound and establishing an offshore business can be rather tricky. For some, the process may look simple, but the truth says otherwise. For that Connect Zone wants to help you get this process just right.

Connect Zone has multiple services that can make your registration process easier.  With over twenty years of experience setting offshore companies in Dubai, Connect Zone can help you register your company hassle-free, and aid with any bookkeeping required for your company.

If you are interested to know more about how we can help you, you can contact us at contact@connectzone.ae, or you can give us a call on + 1 (971) 4331-6688 and one of our expert representatives will gladly answer all your inquiries.

For businesspeople living their dream life in Dubai, it is imperative to own a business license. However, this dream life comes with a price and an expiration date. This is because Dubai has strict requirements for business owners, and having a business license is one of them. For that matter, the trade license renewal Dubai offers has become a very important topic to know about.

In this article, we show you every detail you need to know about the trade license renewal Dubai process. Additionally, we will provide you with relevant information about the trade license renewal Dubai fees and prices for your business. We will discuss:

1. How often do I need to renew my license?
2. What if I am past the renewal date?
3. Can I get a renewal extension period?
4. How can I renew my trade license?
5. What documents do I need to have in order to renew my trade license?
6. Are there any additional pricing or fees to get my trade license renewal Dubai?
7. Why choose Connect Zone to help you in the renewal process?

How often should I do Trade License renewal?

Knowing when to get a trade license renewal is necessary for businesses in Dubai. In the UAE, where businesses need a license to operate, knowing about the trade license renewal Dubai process is significantly important. Additionally, per Emirate and company type, the timeframe for the trade license renewal Dubai process can vary.

See how you can get the E-version of the trade license in Dubai

The timeframe for the trade license renewal Dubai does not vary depending on the company. This is because, in Dubai, trade licenses are only valid for one year, making annual renewals a regular procedure. That allows the authorities to make sure all businesses are operating under the right conditions and obeying all the policies.

Furthermore, the timeframe for the trade license renewal Dubai offers serves as a safety cushion for businesses that might want to cancel their operations due to bankruptcy or personal reasons. Additionally, this can benefit companies by giving them the freedom of being able to leave when they desire.

For that matter, keeping track of the expiration date for your license is important. In fact, there exists a tool available for that purpose, which is the online time tracker for trade license renewal Dubai offers. This allows businesses to check online how long they have to wait until the next trade license renewal Dubai process.

What if I am past the renewal date?

There are several sanctions to levy upon businesses operating with an expired license. However, these sanctions will depend on the company type and how long they have been operating with an expired license. From blacklisting to banning a company owner from the emirate, the severity of the punishment can vary.

Here is everything you need to know about the commercial license in Dubai

The UAE is known for its business-friendly policies, however, not complying with these policies can warrant several sanctions. Having a trade license is essential for businesses in Dubai, and running with an expired license is considered a felony. Furthermore, depending on the verdict, the authorities can decide whether to apply the sanction to the company or its owners.

By doing so, they can ensure the owners will not just go and establish their company in another emirate. Additionally, an expedient is opened to prevent the company and its owners from ever reopening in the UAE. This is a precaution taken to avoid a possible reopening under another company or another name. At the same time, it prevents businesspersons from trying to get a new business registration.

On the other hand, minor sanctions can very much vary as well. These will depend on the reasons for not renewing your trade license. The minor punishments for trade license renewal Dubai gives are usually in favor of the company. Usually by holding back the company’s activities until getting into the trade license renewal Dubai process, and applying punishments of the same fashion.

Here is a list of other sanctions that might be of your interest:

• Blacklisting and prohibition to get a new business registration.
• Company closure and prohibiting reopening.
• Company bans, ranging from profit bans to operative bans.
• Temporally pausing the company’s activities.
• Holding the company’s profits.
• Temporally pausing the shareholder’s profits from the company.
• Holding back activities related to the shareholders.

Click here if you are interested in 100% company ownership in Dubai

Can I get a renewal extension period?

Numerous understandable reasons can prevent a company from renewing on time. Additionally, the UAE as we know is a country that avidly promotes beneficial policies for businesses. Therefore, it is not surprising that there is a possibility of postponing your trade license renewal process.

If you want to know how to set up your business in Dubai check this page

Despite there not existing an actual trade license renewal Dubai extension, there is another option. We are happy to inform you that there is a grace period for businesses past their renewal date. This grace period lasts for about thirty days after your trade license expiration. Moreover, the purpose of it is to give businesses time to renew their license before considering sanctions.

However, regarding the idea above, there are plenty of understandable reasons for businesses not to renew on time. Therefore, if you are already past your trade license renewal Dubai grace period, there is still room for you. As trade licenses vary from company to company, the reasons not to renew on time can vary as well. Nevertheless, it is important to try to get your trade license renewal Dubai process over as soon as you have the chance.

How can I renew my trade license?

The trade license renewal Dubai process can be quite tedious and tiresome. There are several factors to take into consideration when talking about the trade license renewal Dubai process. These factors depend on the type of trade license you are renewing and the type of company you have.

The trade license Dubai process is the same regardless of location; however, there are different organisms in charge of the process. These organisms for trade license renewal Dubai offers are largely involved in the trade license process. Depending on your company’s location, the organism responsible for the renewal process can change, nevertheless, the process is the same.

Here are the steps you must take to renew your license:

Document clearing

Document clearing is the act of getting the documentation you need beforehand in order to get a specific registration. For businesses looking forward to getting the trade license process just right, this means organizing the right documentation. Furthermore, document clearing ensures that all documents you have to send are free of error.

Submitting a document with the wrong information for your trade license renewal process can warrant a penalty. For that reason, here at Connect Zone, we want to provide you with the best document clearing services you could ever get. With over twenty years of experience, our team of professionals will give you the assistance you need during this process.

Here you will find all you need to know about the E-version of the Emirates ID

Apply to get your license renewal

After organizing your documentation, it is necessary to apply for your trade license renewal to the DED. The DED (Department of Economic Development) is the go-to organization to get your license renewed.  This is to say that the DED is responsible for revising and making sure all your documentation is error-free and giving the green light to go forward.

Make the renewal payment

Once you have applied for your trade license renewal Dubai’s DED will provide you with a payment voucher. This payment voucher is a document that allows you to pay the trade license fees. The trade license renewal fees can vary depending on the individual’s requirements and specific licenses. The DED only issues your document once you make the payment so make sure to send the payment back with the payment voucher.

What documents do I need to have in order to renew my trade license?

Trade licenses are necessary for companies operating in the UAE. Therefore, issuing one for your business is a requirement. There are a few types of business licenses, and each of them fulfills a type of company’s needs. Furthermore, the documents you will need to provide for your trade license renewal process can change depending on the type of company you are running.

Additionally, there are numerous different permissions you need to get in order to get your trade license. Therefore, you might need to renew these permits before getting into the trade license renewal Dubai has to offer. Besides, this is the reason why document-clearing services are so important.

Here at Connect Zone, we offer you the most high-quality document clearing services you can get. With more than twenty years of experience, our team of knowledgeable professionals can give you the customized assistance you need. Furthermore, our services can ensure you are providing the right documents with the right information in them, so you can get the trade license process as easy as possible. Here are some of those documents:

Get your Ejari registration

The Ejari is an online organization in charge of holding all information regarding tenancy and land details. Besides, the purpose of this organization is to have all details regarding businesses locations and the information of the land they reside in. It is imperative for businesses to have a tenancy approved by the Ejari organization.

Validated tenancy contract

Once you have an Ejari registration approval, it is necessary to have a tenancy contract approved by the Ejari organization.  A tenancy contract is a written agreement between the property owner and the person occupying the land. Thereby, for companies established in a land they do not own, it is imperative to have this document.

However, to start the trade license renewal Dubai process, it is important to have a valid tenancy contract. Besides, this contract should still have at least one month of validation before renewing your license. If your tenancy contract does not meet these requirements, your trade license renewal Dubai application might fall through.

For that reason, Connect Zone offers you the help you need to get what you want. Connect Zone is the tool you need to have in order to get started with your Trade license renewal. Not only do we offer you the most up-to-date services and information you need, but also, our team of experienced professionals will guide you through the entire process making sure you are going over the many hurdles you might find along the way.

An old trade license copy

Additionally, you will need to provide a copy of an old trade license; this ensures your company’s information is correct. Besides, it saves you and the competent authorities time looking for the information you already have.

License renewal BR/1 form

To start the trade license renewal Dubai process, it is necessary to fill the BR/1 form. This document needs to include all business partners’ and shareholders’ signatures. This is to make sure all business partners and shareholders are on the same page with the renewal process.

Are there any additional pricing or fees to get my trade license renewed?

Many factors can affect the trade license fees for your company. Among these factors, we can find variants like the scale of your company, your company’s setup type, the license type you hold, and the additional approvals your company has.

Normally, the trade license fees oscillate between AED 8.000,00 and AED 15.000,00 to get a standard license renewal. However, the trade license renewal fees vary depending on your company’s specific needs, and it might be difficult to cover all those points before the renewal date.

Why choose Connect Zone to help you in the renewal process?

As you can see, there are a few hurdles to go over during the trade license process. For that reason, here at Connect Zone, we want to help you achieve your goal of renewing your license. We have a team comprised of fully trained and experienced professionals on the renewal process. With over twenty years of experience, we assure you we have the best services and most qualified experts.

If you are interested in knowing more about us and what we can do for you, you can phone us at + 1 (971) 4331-6688. However, if you are more comfortable getting the information via email, you can email us at contact@connectzone.ae. Regardless of the communication passage you take, one of our representatives will answer you and kindly respond to all your inquiries.