Offshore companies are gaining trend. This is because business structure of an offshore company is ideally suited for everyone. There are many reasons for the popularity of offshore companies including:
- Quick and easy incorporation.
- Easily formed with limited budget.
- Offer bureaucratic freedom.
Besides all these advantages, the owner of the offshore company can keep all the administrative burden at bay and enjoy the profits. However, registering the offshore company is required to start its operations. But whether you want to register offshore company in Dubai, or in any other country, you must keep a few things in mind. These include:
- Corporate Bank Account
You require a corporate bank account in the country where you want to set up your offshore company. The account will be opened under the registered name of your business. This account will be used for all business transactions and also to hold the share capital of all businesses.
- Registered Address
Any operating business entity need to have a registered address (a physical location and not just a PO Box number) as it is required by corporate law in almost every country. All documents regarding the company’s registration including legal correspondence, notices, etc are sent to this address.
- Unique Name
Your offshore company must have a unique name. this is because most of the countries have an official register maintained online. Therefore using a duplicate name which is already on the list will not be possible and registration will not be possible.
Although the decline in oil prices have put most of the Mid-east economies at stake, but besides this Dubai has evolved amongst the fastest growing cities across the globe. The place is the best choice for tech startups looking for emerging markets in this industry. So if you are also seeking to start a technology based business here, then you must invest in business setup solutions services and get appropriate advice from experts.
Out of the many business advisory firms, Adam Global is considered by most who want to establish a technology and innovation organization in Dubai. The professionals of the firm will not only provide perfect business start-up solutions, but will also help you in running your business successfully. Here we have a few things to consider for starting a technology business here.
· Consider DTMFZ for getting a complete ownership: to get a 100% ownership of your technology business in Dubai, you must consider for establishing your business in the Dubai Technology and Media Free Zone (DTMFZ). This region includes nine business parks, each of which is a part of TECOM Investments. This free zone is regulated by Dubai Technology & Media Free Zone Authority, which holds the responsibility for developing and implementing the rules and regulation that abide by the international standards.
· Consider a local sponsor for establishing business in Dubai city: if you want your business to be established in the market of Dubai city, then you would have to look for a local sponsor who will be a 51% shareholder of your business. It is although not compulsory for him/her to be an active participant in operating your company.
· Legal formalities to be followed: since you want to set up a business in the Dubai Technology and Media Free Zone (DTMFZ), then you have to follow a set of rules regarding the make-up of your firm. The authority of this zone has its own restrictions that should be carefully followed to run the technology business smoothly.
All the above given points are very important to be carefully followed when starting up a business in Dubai. In order to make the entire procedure of setting up your tech business here effortless, you must take the help of a skilled and experienced business advisor company like Adam Global.…