An Offshore Company is not present in UAE. An Offshore Company cannot conduct business in the UAE but can do business outside the UAE. It can be established in another country. The auditing procedure is not compulsory for offshore companies. The cost of setup is very low. It is impossible to convert the free zone offshore company into an onshore company.
An emigrant can have full ownership of the company only outside UAE. An offshore company cannot have any physical office space in the UAE but they can have it outside the UAE. They are strictly restricted from doing business inside the UAE. It is not mandatory to prepare for the Audit. Since there is no office space, offshore company owners can’t get a resident visa.
The details of owners, directors, and shareholders and any other information cannot be revealed to the public. Privacy or secrecy is the advantage of this offshore company.
Even though there are some advantages and disadvantages of Freezone, mainland, and offshore business setups, it is finally the businessman’s decision where to set up his business and what mode of business setup he wants to prefer. Reddy’s management consultancy helps you in deciding on your company formation. Our expert advisors give the best suggestions to start a new business without confusion and assist you with every step of your business from start to end.