Author- Kimaya Dalvi
Difference between On-Shore and Off-Shore Companies in Dubai
Basis for Differentiation | On-Shore | Off-Shore |
Legal Structure: | On-Shore companies are registered with the Dubai Department of Economic Development (DED) and are governed by the UAE Companies Law. They are also required to have a UAE national as a shareholder or sponsor who will own 51% of the company’s shares. This requirement is waived in some free zones. | Off-Shore companies are registered with the Jebel Ali Free Zone Authority (JAFZA) or the Ras Al Khaimah International Corporate Centre (RAKICC). They are governed by the laws of their respective free zones and are not required to have a local partner. |
Taxation: | On-Shore companies are subject to UAE corporate tax, which is currently set at 0% for most types of businesses. However, certain industries such as oil and gas and banking are subject to tax. | Off-Shore companies are exempt from all UAE taxes, including corporate tax, income tax, and value-added tax (VAT). |
Business Activities: | On-Shore companies can conduct business activities within the UAE and are required to obtain a license from the DED or the relevant free zone authority. They can also operate outside the UAE but may be subject to restrictions and regulations in other countries. | Off-Shore companies are primarily used for holding assets and investments outside the UAE. They cannot conduct business activities within the UAE and are not allowed to have a physical office or staff in the country. |
Company Formation: | On-Shore companies require a physical presence in the UAE and must adhere to certain procedures for company formation, such as obtaining a trade license, registering with the Chamber of Commerce, and obtaining visas for employees. | Off-Shore companies can be formed remotely, without the need for a physical presence in the UAE. The registration process is usually simpler and faster than that of On-Shore companies. |
`Free Zone in Dubai
Free Zones, also known as free trade zones, are designated areas in Dubai that are governed by their laws and regulations, and separate from the rest of the UAE. These zones are established to promote international trade and attract foreign investment by providing a business-friendly environment, tax incentives, and streamlined procedures for company setup.
Here are the key features and benefits of Free Zones in Dubai:
Advantages of having a free zone in Dubai
Dubai is home to many Free Zones that offer a wide range of advantages for businesses. Here are some of the key benefits of having a Free Zone in Dubai:
Conclusion
In summary, Free Zones in Dubai offer numerous advantages for businesses looking to establish a presence in the region. These advantages include 100% foreign ownership, attractive tax incentives, a business-friendly environment, world-class infrastructure, a strategic location, access to a skilled workforce, and business support services. These benefits make Dubai an attractive destination for international investors and businesses seeking to expand their operations globally. Overall, Free Zones in Dubai provide a platform for businesses to succeed in a highly competitive and dynamic global marketplace.
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