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⍰ ASK How does one start an offshore business in UAE?

Starting an offshore business in the United Arab Emirates (UAE) involves several steps, including choosing the right jurisdiction, selecting a business structure, obtaining necessary licenses and permits, and registering the company. Here is a general overview of the process:

  1. Choose the right jurisdiction: The UAE has two main offshore jurisdictions, the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM). Choose the jurisdiction that best fits your business needs based on factors such as the type of industry, company structure, and desired level of regulation.
  2. Select a business structure: Choose the type of business structure that best fits your needs, such as a limited liability company (LLC), a free zone company, or a branch office.
  3. Obtain necessary licenses and permits: Depending on the type of business, you may need to obtain specific licenses and permits from relevant government agencies. This can include a trade license, commercial license, and a work visa for yourself or any employees.
  4. Register the company: Complete the company registration process by submitting the required documentation and paying the necessary fees to the relevant authorities.
  5. Open a bank account: Open a local or offshore bank account to manage the company's finances.
It's recommended to work with a professional service provider who can assist with the incorporation process, advise on local regulations, and provide support with obtaining necessary licenses and permits. Additionally, it's important to be aware of the tax implications of operating an offshore business in the UAE and to ensure that you are fully compliant with all applicable laws and regulations.
 

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