Offshore companies are setup in foreign countries mainly to avoid taxes and to enjoy other benefits that you cannot get in the country you reside in. They are formed in countries other than the country the owner, officers, directors, stakeholders and partners live or belong to. There are certain rules and laws that other countries do not follow so setting up your company there means you do not have restrictions which you have in your home country or the country you reside in. There are so many business opportunities overseas that one may lack in their own country such as tax saving or asset protection from lawsuits etc.
UAE is often an ideal location to setup an offshore company because of certain laws and also because it is a beautifully diverse country and has wonderful infrastructure, no taxes and low import duties. shams free zone license can be an ideal opportunity for you if you are aspiring business person.
Offshore companies are legal and formed after going through proper ways. People normally think that corrupt people and criminals set up offshore company to avoid taxes and hide their money but that is not the case as there are legitimate offshore companies that are formed only to preserve one’s wealth by not paying huge amount of taxes and also to avail certain opportunities that only foreign nations offer.
Having an offshore company legally exempts you from taxes which enables you to save a lot of your money and invest it in your business in terms of expanding it. You can live in Pakistan and operate your business in UAE and you do not even have to stress over tax rates.
Foreign countries provides a lot of opportunities for your business or company to grow which your own or the country you reside in does not, like investing and trading in foreign market or in purchasing real estate. Apart from that, offshore companies provide flexibility in terms of structuring of the capital of the organization. It also gives you high level of privacy and confidentiality hence saving you from lawsuits.
Ras Al Khaimah International Corporate Center (RAKICC) is a corporate registry which operates in United Arab Emirates and it is responsible for the registration of international business companies. It also provides a full suite of registry service related to international business company activity.