Offshore companies are companies that are incorporated in a jurisdiction different from the one where it carries out its business activities or companies incorporated in offshore financial centers. Offshore companies what some call a tax haven, referred to this term in a country which exempts from tax foreign investors who have bank accounts or set up companies in its territory. At that make no economic or commercial activity and are termed non- resident companies. These companies are controlled by foreign enterprises or individuals that conduct their business in other parts of the world and using the tax haven only as a legal address of the company.
Ajman Offshore Company Setup, UAE
LIST OF ACTIVITIES INCLUDED IN THE OFFSHORE LICENSE :
One Activity to General Trading
Consulting & Advisory Services
Investments and Joint Investments Company
Shipping and Ship Management Companies
Commission Agents Company
AJMAN OFFSHORE COMPANY SETUP
How can establish an offshore company in Ajman, United Arab Emirates.
Ajman Free Zone (AFZ) is the authority mandated to register and license offshore companies in Ajman. Here are the steps to follow when setting up an offshore company:
1. Choose a Business Activity, ensure it’s allowed under AFZ laws.
2. Choose a Company Name: The name should be unique and not taken to avoid duplication.
3. Shareholders: Decide on the number of shareholders and their respective share percentages.
4. Choose a Registered Agent: You will need a local registered agent to help in the company registration process.
5. Submit Documents: The following documents are required to set up an offshore company:
– Passport copies of shareholders
– Proof of residence of shareholders
– Bank reference letter
– Proposed company name
– Memorandum and Articles of Association
6. Application Submission: Submit your application along with the required documents to AFZ.
7. Licensing: Upon approval of your application, you will be issued with a license by AFZ.
8. Bank Account Opening: You need to open a bank account in Ajman for your offshore company.
9. Commence Business: With the license and bank account, the offshore company can commence operations.
NEX Approach in Offshore Company Setup in UAE
NEX consultants can help clients understand the legal requirements and procedures for setting up an offshore company in Ajman.
– Advise on the most suitable company structure, jurisdiction and business activities.
– Assist with preparing and submitting the necessary documents and applications to the relevant authorities.
– Guidance on registering the company and obtaining necessary licenses and permits.
– Assist with opening bank accounts and setting up accounting and payroll systems.
– Help clients navigate the various tax and regulatory issues related to offshore companies in Ajman.
– Provide ongoing support and advice on corporate governance, compliance and other business issues.