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Dubai Offshore

Introduction

Dubai is located in the United Arab Emirates and it the most densely populated of the seven emirates that make up the country.

Dubai used to be a British protectorate and Britain used to take care of foreign policy and defence until 1968.  After the British withdrawal the emirate agreed on a union which formed the United Arab Emirates in 1971.  Neighbouring civil unrest initially had a negative impact on the Emirate, but has actually worked out to serve in its interest as it is due to this unrest that many businesses relocated to Dubai drawn by its stable environment.

Dubai is an absolute monarchy which appoints a municipality who control planning on various aspects of the emirate.  This degree of control has also served in its favour in recent years as it does not have to bow down to external political factors or organizations and is free to make its own policies which serve only in its own best interest.

Dubai built most of it wealth on trade revenue, but was smart enough to invest this into infrastructural development and expansion and promote a western style model of business which has led to its main revenues now coming from tourism, aviation, real estate and financial services.  This forward thinking has greatly contributed to Dubai becoming one of the fastest growing economies.

The radically increase in Dubai’s economy along with its stable environment has greatly influenced its reputation as a leading offshore jurisdiction.  Combined with its western style model of business and its favourable policies, Dubai is certainly a major contender when considering on offshore corporate structure.

Corporate Advantages

Dubai inherently has a lot going for it as an important jurisdiction, but in addition to this the Dubai government is constantly striving to support its business orientated environment and promote this internationally.  When combined with its tax friendly attitude it is not surprising that Dubai has become one of the most prominent Jurisdictions.
To read more about the corporate advantages of Dubai – please follow this link.

Dubai Registry & Laws

Dubai’s offshore environment is made up of more than twenty free zones which are special economic zones which offer tax incentives.  The laws which govern offshore companies in Dubai have been specifically designed to promote stability, profitability and confidentiality in order to attract business to Dubai.
To read more about the corporate advantages of Dubai – please follow this link.

Banking in Dubai

Dubai offers a wide choice of both foreign and local banks.  Due to its internationally cultivated environment Dubai banks offer a professional service geared at international business allowing transactions in a variety of currencies.  Offshore banking in Dubai prides itself on its reputation for its security, flexibility and confidentiality. 
To read more about the corporate advantages of Dubai – please follow this link

Dubai VAT

There is currently no VAT in Dubai.

Structures

Dubai is certainly more sophisticated than other jurisdictions when it comes to choosing an offshore structure due to the amount of permutations that it has to offer as it has over twenty free zones each developed for specific sectors and industries with their own advantages and disadvantages.
To read more on the types of companies available in Dubai – please follow this link

Dubai Trusts

In 2005 Dubai introduced the Anglo-Saxon form of a family trust.  The Dubai Trust Law 2005 is only effective within the Dubai International Finance Centre which is free to create its own laws and regulatory framework entirely independently from the laws of mainland UAE, with its own courts that operate in English.  Although relatively new the Dubai Trust law is very modern and draws on legislation from several leading offshore jurisdictions for trusts.
To read more about Dubai Trusts – please follow this link

Dubai Intellectual Property

Federal Law came in to the UAE in 1992 concerning Intellectual Property and this was subsequently amended in 2002 and again in 2006.  The UAE is a member of a wide variety of international organisations intent on protecting intellectual property rights.
To read more about Intellectual Property in Dubai – please follow this link

Residency in Dubai

Dubai is one of the fastest emerging hotspots for business travel and expatriates. Its location makes it a convenient trip from Asia, Australia, America and Europe with generally less than a four hour flight.  Dubai has a variety of Visa’s in order to suit its business orientated environment.
To read more about residency in Dubai – please follow this link

Chesterfield and Dubai

Chesterfield are familiar with all three types of company available in Dubai being Offshore Companies, Free Zone Companies and Local Companies and are able to assist with when it comes to making the choice of which type of company is best suited to your business needs, Incorporation and administration.  We are familiar with all the laws, paperwork and structures involved and are in an excellent position to give you the sound advice required when considering setting up a Dubai company.

 

Corporate Advantages
Dubai inherently has a lot going for it as an offshore location.  Dubai is recognised as a most important regional hub being the cross roads between the Middle East, North and East Africa and the Indian subcontinent.  After becoming independent from Britain its strong trading ties with both China and India meant that it was a prime location for businesses forced to relocate after civil unrest in neighbouring countries drawn by its wealth and stability.
Banking in Dubai
Dubai offers a wide choice of both foreign and local banks.  Due to its sophisticated banking service many international banks have chosen to establish a branch there and so many of the more recognisable banks worldwide have a presence there.  The local currency is Dirhams although all international foreign currencies accounts are available.  The Central Bank of the United Arab Emirates governs and licenses all financial establishments in the UAE.  Banks in Dubai normally have a minimum balance requirement and usually operate in both Arabic and English.
Dubai Registry & Laws
The laws which govern offshore companies in Dubai have been specifically designed to promote stability, profitability and confidentiality in order to attract business to Dubai.
Structures
Dubai is certainly more sophisticated than other jurisdictions when it comes to deciding on a type of offshore structure due to the amount of choice that it has to offer.
Dubai Trusts
As early as the 7th to 9th century there have been concepts of charitable trusts already in existence in the Islamic world and perhaps this is where the medieval knights first got the idea and subsequently brought the idea back to Britain.  However, in a turn of events in 2005 Dubai introduced the Anglo-Saxon form of a family trust
Dubai Intellectual Property
Federal Law came in to the UAE in 1992 concerning Intellectual Property and this was subsequently amended in 2002 and again in 2006.  The UAE has been a member of the Paris Convention for the Protection of Industrial Property since 1996.
Residency in Dubai
Dubai is one of the fastest emerging hotspots for business travel and expatriates.  Dubai has significant numbers of visitors every year drawn by its extravagance and adventurousness when it comes to architecture, such as the world’s tallest building, and of the most luxurious and expensive hotels in the world with an entirely underwater restaurant and even an entire aquarium inside one of its malls!  It has also been selected to host the 2020 World Expo which is expected to draw an estimated 2.5 million visitors.  Its location makes it a convenient trip from Asia, Australia, America and Europe with generally less than a four hour flight.

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