What is an Offshore Company? Why a businessman should incorporate Offshore?

What is an Offshore IBC ?

IBC refers to International Business Company

- It is a company which does not conduct substantial business in its country of incorporation.
- It is formulated in a tax free jurisdiction.
- It legally minimizes any type of tax burdens.
- It improves one’s wealth management

Why Offshore?

Large numbers of high net worth Individuals and corporations are taking steps to incorporate overseas.
- Away from the area of their main business transactions.

To Save Tax

- An offshore company can form part of an overall taxation reduction strategy for certain individuals or entities.
- Combined with an offshore bank account or trust, for example, an offshore company can save an individual or company tax.
- If an offshore company is set up in a low/no tax area then profits can be realized in a tax efficient way increasing profitability.

Favorable Local Legislation Relating to Reporting

The amount of company information and accounting data that needs to be submitted and held on file is far reduced in the majority of offshore centers which goes hand in hand making an offshore company that much easier to manage and run.

Offshore Asset Protection

- An offshore company is the perfect entity for enabling individuals to achieve asset protection offshore.
- Assets can be owned by the company rather than directly by an individual, and the company can be placed in trust or foundation for example.

Achieve a higher level of anonymity

- A number of overseas centers offer the option of having nominee directors for the establishment of a company.
- Others also keep the names of directors and shareholders off public record.
- Those who transact through such a company can keep their affairs private.

Greater Ease of Operation

- Many offshore centers make it very easy for companies to trade.
- The aviation, media and financial sectors require specific licenses and much greater regulation.
- An offshore company can be far easier to manage than an onshore one.
We are the authorized registered agents with the Government of Dubai and Ras Al Khaima for the incorporation of offshore companies. We can assist you in the offshore company formation application, licensing and registration process.

Rizwan Anjum
Business Consultant
rizwan@adamadvisors.com
+971 50 7946180

Start a Business in Dubai by Incorporate your own company

Perhaps you're working for someone else and you're not happy with what you're being paid, or thinking you could do a better job than what your boss does. Or maybe you're working in the corporate world and not gaining the job satisfaction that you crave.

Or perhaps you're working in an organisation that is about to down-size and you're facing the uncertainty of possible retrenchment.

And you find yourself wondering whether small business might be right for you. Maybe even day-dreaming about the rewards and freedom that you would enjoy running your own small business?....... Well if this is sounding a bit like you, then here's some things you might want to consider.

Be realistic when estimating start-up costs

Within two years of starting up, more than half of new small businesses fail. There are various reasons for this, but one of the main reasons is that the budding entrepreneur often under-estimates the cost of entry into the market and the amount of capital that is required. So make sure you do your sums and if in doubt with the figures, then be conservative. The operational costs of leasing, equipment, running expenses, and any labour and advertising costs for example. Estimate how long it will realistically be before you establish your customer base and therefore the period of time in which you may have to wait before you can expect to have a reasonably steady stream of cash flow

 Three skill-sets that you require

 Do you have the right skill-set, or can you acquire them? Michael Gerber in his book "The E-Myth Revisited" explains that the small business owner requires the ability to perform three types of roles.

As a technician, you might be a plumber, a builder, an accountant or some type of consultant - and you may have great technical skills. But if you can't plan and organise effectively - or if you can't sell and market effectively, then you probably won't succeed in small business.

Being your own boss

A small business offers you the opportunity to be more independent and to be able to make the decisions you think are necessary to move the business forward. You have the chance to express your own creativity and to be as bold or as cautious as you want. But at the end of the day - you are accountable for all of the decisions you make and the measures of your success will be much more readily apparent.

Is your revenue increasing? Is your customer base expanding? Are you generating a level of profit that is needed to support your lifestyle and provide you with a fair return for the risks you are taking?

Risk versus reward

Yes, running a small business is attractive to many people - the allure of being in control of your destiny and the captain of your own ship. Personally, having in the past worked within the corporate arena, I could never return full time to working as an employee in that world. For me, there has been a deep satisfaction in growing and managing my own consulting business.

 However, it is not for everyone. And nor is it without stress and considerable anxiety. Your fate can be somewhat tied to the health of the wider economy - just ask those who are struggling in the retail sector. And yet despite a tough economic environment, there are still people who find a way to navigate their small business through stormy weather and ultimately prosper.

If you are contemplating going into small business, then I would encourage you to do your homework and ensure that you carefully weigh up the potential risks versus rewards. If you are looking for a template to help you formulate a Business Setup, and perhaps help you consider what extra training you should undertake to prepare you for the world of small business - then have a look at

What time is it for you?

"There is the time for careful thought and contemplation, when options are considered, goals are formulated and plans are carefully developed. It is the time for thorough research and precise assessment of risk - when haste can be your enemy and recklessness your undoing. And then there is a time for bold action - when courage and conviction are the qualities that must be called forth from deep within. When self-doubt cannot be allowed to undermine your commitment nor cause you to waver from your chosen direction. And finally, there is the time for reflection - a time to enjoy the fruits of your labour and learn the lessons of your experience. It can be a time for sharing what you have gained and rejuvenating your spirit, so that you can again when ready, move forward with vision and inspiration. So what time is it, for you? "

Business Advisors in UAE for Company Formation, Incorporation – Business Setup … IN UAE Adam SME Consulting is a Premium Business Advisory, delivering comprehensive advice to clients on business planning, incorporation, corporate finance, mergers and acquisitions. We are Specialists in formation of TradingLLC,General Trading ,Free Zone companies formation, Offshore Company Formation, Professional & industrial Licenses also provide influential & helpful local sponsor.

Free Zone vs. Mainland:

Free Zones are favourable to those individuals or entities that wish to trade internationally and not locally (UAE). Free Zones are restricted to their jurisdictions only. There is a little flexibility in the said rule that if you wish to trade outside free zone then your transactions will be subject to 5% duty further you need to appoint a distributor or agent to do the same. Meanwhile an onshore or a mainland company can trade in locally and internationally however the share division will be 51% local and 49% expat . If you are interested to Setup a business in Dubai/UAE Free Zones then I would like to know the following details in order for me to evaluate your resources and provide a solution that best fits yours and your business needs. Kindly reply me with the answers to the following questions:

* What will be your business activity?

* How many partners will be involved in this venture?

* where do you wish to trade, UAE & GCC Market or International Market

* How many individuals do you intend to hire for this firm?

* Have you done market analysis and business feasibility for setting up a firm in Dubai, UAE?

* What would be your preferred jurisdiction (Mainland or Free zone

Once I received above mentioned information then I will be able to advise you accordingly

RIZWAN ANJUM
Mobile: +971 50 794 6180
Skype : rizwan_ach 
Email: bizzadvisors@gmail.com

Offshore Company Incorporation in UAE

What is Offshore Company

Offshore companies are entities such as corporations or limited liability companies (LLCs) that have been filed outside of one’s country of residence. Offshore company incorporation is utilized, among other things, by those interested in asset protection, business expansion and financial privacy. Listed below is information summarizing the reasons for which these entities are formed:

• Privacy
• Asset Protection
• Tax Savings (depending on your jurisdiction)
• Lawsuit Protection
• Flexible Business Laws
• Business Expansion
• International Financial Diversification
• Confidentiality

Normally speaking offshore companies are the ideal business structure in today's world. Offshore companies are quick and easy to incorporate, priced affordably and free from all kind of bureaucracy. An offshore company can be set up within a day when you need it and does not require any attention like local registrations do. With literally no paperwork, no filing deadlines, no accounting and auditing offshore companies keep you free from all administrative burden and allow you to devote full attention to running your business. The simple and flexible structure makes offshore companies ideal for almost every business.

Offshore companies are the preferred company structure to achieve anonymity and privacy protection, keep all business details confidential and combine all this with limited liability and tax exemption. Every offshore company we offer is registered fully legal and able to conduct activities worldwide. It is realized today, that the costs for an offshore company in most cases are not higher than that to register a local company. The benefits of offshore companies are however amazingly greater than what a local company registration can offer. With an offshore company you do not have to pay sales tax nor income tax. Depending on the jurisdiction selected, offshore companies are also exempt from reporting, accounting and auditing. That means you save the costs of a CPA whilst at the same time gain the highest level of privacy protection. Your offshore company may be dormant or it may generate millions in profit you will still not be required to forward information.

The main advantages of offshore companies.

• anonymity, confidentiality and the highest level of privacy protection
• limited liability without any paid up capital requirement
• legal tax exemption; no taxation on any kind of income
• no accounting, no reporting, no filing, no auditing
• no accountant costs
• business can be conducted internationally
• and many more

UAE Offshore Company

There are 3 offshore jurisdictions in UAE namely RAK FTZ (Ras Al Khaimah) Offshore, RAKIA (Ras Al Khaimah Investment Authority) Offshore and JAFZA DUBAI (Jebel Ali Free Zone Authority) Offshore please note that we are the registered agents for all three jurisdictions in UAE.

Note:-

• Off-shore only offers virtual office, not a real space, either in JAFZA, RAK or in RAKIA, whichever is convenient.
• You can do international trading, with No sales in U.A.E., but definitely bank account can be maintained with said.
• Offshore doesn’t offer residence visa of UAE.
• You can Hold Property & shares within UAE by JAFZA Off-shore but it requires physical presence of the shareholder to incorporate. 

UAE offshore incorporation helps you to run your business or asset ownership in the Middle East in the most profitable manner. Especially because you avoid the cumbersome process of having the off shore incorporation company documents attested by various embassies and Ministries of Foreign Affairs

For your offshore incorporation in UAE, there exist many service providers offering a competitive offshore package. Such packages include services for operating your business, hiring local employees, entering into agreements, renting of office space, selling goods and company services, drafting contracts and offering investments, taxation and banking advice.

As UAE offshore incorporation requires an agent, you will need to choose one in order to register your company. The offshore package offered by any service provider stipulates that the agent representing the service provider would act as a link between the newly formed offshore enterprise and the local government. 

UAE Offshore Incorporation - Features and regulations

• The capital of the company can be any amount divided into any denomination.

• The minimum number of shareholders and directors is one.

• All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. However, there is no requirement to deposit the capital in bank.

• 100% foreign ownership permitted and 100% tax and duty exemption exists on UAE off shore incorporation companies.

• Opening a corporate bank account in a bank at Dubai, UAE is permitted.

• A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by UAE Free Zone.

• The Offshore domicile is located in the UAE Free Zone.

• The investors need not visit the authority to incorporate the company, however the documents need to be signed in the registered agent's office.

• Audited financials will be requested only in case of suspicion.

RAK Offshore has been established by the Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socioeconomic growth of the Emirate, to address the region's growing demand for offshore markets, while at the same time to boost the emirate's ongoing economic diversification program. Within just 14 months of operation as an alternate offshore location in the Middle East, RAK Offshore has expanded its client portfolio to over 1,900 International Business Companies (IBCs) providing specialized services such as asset protection schemes and real estate holding.

Real estate and property investments are among the principal businesses of several international firms registered with RAK Offshore. Ras Al Khaimah, has also created a splendid mix of infrastructure projects and new policies to provide the best environment for the off shore incorporation of companies.

A key feature of RAK Offshore is that it offers complete privacy and confidentiality; owners of IBCs are kept confidential under law, ensuring a highly conducive business environment for both individual and corporate investors. RAK Offshore's portfolio of services includes a wide range of financial and non-financial services. Under its non-financial portfolio, RAK Offshore facilitates the establishment of IBCs whose activities include international trading, asset protection, tax planning and real estate holding.

RAK Offshore also supports a wide selection of outsourcing companies, and offers several marine-related services, including an open registration facility for vessels and yachts from anywhere in the world. Under its financial services portfolio, which has been forwarded to the authorities for approval, and is currently under review as per guidelines of the UAE federal authorities, RAK Offshore will provide in the future, a regulatory framework to establish a diverse range of funds, including Sharia-compliant investment products. RAK Offshore will also facilitate the establishment of different kinds of offshore trusts, which may be used to hold offshore companies or other assets under the RAK Offshore Special Corporate Trust Regulations.

We at Global Resources are available to answer any and all of your questions regarding the establishment of an offshore financial presence. You can contact us at any time, and our knowledgeable staff will be happy to help - and as always, all conversations and correspondence with Global Resources remains confidential.

Documents required to incorporate an offshore company

·         Valid Passport Copy for each Shareholders / Director

·         UAE entry stamp page copy

·         Letter of interest (agent appointment letter)

·         Three Proposed Company Names (Suffix should be LIMITED or INCORPORATED)

·         Personal & Business Profile of each shareholder(s). (CV)

·         Original Proof of Physical address of the shareholders. (utility bill)

·         Original Personal Bank Reference (Good standing) for the Shareholder(s) - the relevant account should have been maintained

RIZWAN ANJUM
Mobile: +971 50 794 6180
Skype  : rizwan_ach

Email:   bizzadvisors@gmail.com

UAE Mineral Water Export Ban

Market resource say there are chances of bottled water becoming costlier in the country due to the decision of the UAE to stop exporting underground water, a local Arabic daily reported. They also said this might lead to shortages of small bottles of mineral water in the near future, especially after Saudi Arabia has also stopped exporting mineral water.

Market resource say there are chances of bottled water becoming costlier in the country due to the decision of the UAE to stop exporting underground water, a local Arabic daily reported. They also said this might lead to shortages of small bottles of mineral water in the near future, especially after Saudi Arabia has also stopped exporting mineral water.

Some, however, say the above decisions would not affect the Qatari market since it does not import more than seven percent of its bottled water requirements. They say local production could meet the demand for mineral water in Qatar over at least the next decade.

Among the solution planned by officials to avoid likely problems brought about by the decision is granting licenses to new Qatari companies to produce bottled water, Al Raya reported yesterday.

They also advise consumers to prefer big water bottles to the smaller ones. Bashar Al Salaita, General Manager at Al Sabeel Mineral Water Company said the UAE’s decision would not impact the Qatari market much, but there could be shortages in the supply of small mineral water bottles of 330ml, 600ml and 1.5 liters.

“ The above decisions would not have major impact locally. Earlier too, Saudi Arabia stopped exporting 20 mineral water brands…Qatar imports only eight mineral water brands from the Emirates,” he said. He added this shortage will only be for small bottles because Qatar has 12 factories which produce big bottles, but it has only two factories which manufacture small bottles.

Market sources say the decision of the UAE and Saudi Arabia are a blessing in disguise as Qatar can now take steps to produce more small bottles of mineral water.

Rizwan Anjum

2,000 New Commercial Licenses in UAE

More than 2,000 new commercial licences were issued in Abu Dhabi during the first quarter of this year, bringing the number of businesses to 105,953, the Department of Economic Development (DED) said in a statement.

DED issued new licenses as follow:

·         In January           768

·         in February         708

·         March                   685

Moreover, according to a report issued by the Commercial Affairs Division, bringing the total to 2,161.

Mohammad Moneef Al Mansouri, Acting Executive Director of the Commercial Affairs Division, emphasised the continual rise in commercial activity in Abu Dhabi, reflecting the growing desire for investors and businessmen to pursue opportunities in the emirate. It's not only new ventures which are opening in Abu Dhabi, according to Al Mansouri.

Businesses already in the emirate are also keen to renew and expand.

The number of business licences renewed during the first quarter was 17,866, which reflects the confidence of investors and the ever-improving commercial climate, Al Mansouri said. The DED report also revealed that of the new licences issued, 1,576 were for individual companies. The category also accounted for 11,855 of the renewals.

This mean Dubai is now going on boom and soon it will show more progress. People are coming from different territories to start their businesses and what I came across with most licenses ,they are services related for example IT consultancy, management consultancy, event management and some more service related license is going to issue.

In UAE,We specialize in formation of Trading LLC,General Trading ,Free Zone companies formation, Offshore Companies formation, Professional & industrial Licenses also provide influential & helpful local sponsor.

RIZWAN ANJUM
Business Consultant (SME)
Dubai | Abu Dhabi | London | Manchester | Glasgow | Lahore | Windhoek | Harare
Headquarters:
Office 2A, Ground Floor, Building No.6
Gold & Diamond Park
PO Box 183827, Dubai, UAE
Mobile: +971 50 794 6180
Skype : rizwan_ach
Email: rizwan@adamadvisors.com
Web: www.adamadvisors.com
Member of Adam Holdings

Deadline for Dubai residents to apply for an Emirates ID card has been extended until June 30

The deadline for Dubai residents to apply for an Emirates ID card has been extended until June 30, the Emirates Identity Authority (Eida) announced in a statement on Saturday.now this is again a chance to avoid fines.

Mainly these opportunities for low skilled workers who yet not completed their ID process. So they  do not have to pay extra money so they extended till 30 June.

The authority ID authority obliges requests from public through web site and some social media for more time.

Penalties are also there as :

Failure to apply for an ID card before deadline will invite delay fees of Dh20 per day per individual from July 1, up to a maximum amount of Dh 1,000.

All queries are welcome (business plan, business setup, visa services, offshore Company Formation, getting maid visa in UAE, and Emirates IDs.)

Business Setup in UAE and Free Zone Vs. Mainland

Free Zones are favourable to those individuals or entities that wish to trade internationally and not locally (UAE). Free Zones are restricted to their jurisdictions only. There is a little flexibility in the said rule that if you wish to trade outside free zone then your transactions will be subject to 5% duty further you need to appoint a distributor or agent to do the same.

 Meanwhile an onshore or a mainland company can trade in locally and internationally however the share division will be 51% local and 49% expat .

I hope this will help you all build a perspective. For more information

RIZWAN ANJUM

Mobile: +971 50 794 6180
Skype  : rizwan_ach
Email:   bizzadvisors@gmail.com