{"id":1747,"date":"2020-12-02T12:45:12","date_gmt":"2020-12-02T12:45:12","guid":{"rendered":"https:\/\/emiratesbd.ae\/blog\/?p=1747"},"modified":"2020-12-02T12:45:13","modified_gmt":"2020-12-02T12:45:13","slug":"differences-between-offshore-and-onshore-companies-in-dubai-2","status":"publish","type":"post","link":"https:\/\/emiratesbd.ae\/blog\/differences-between-offshore-and-onshore-companies-in-dubai-2\/","title":{"rendered":"Differences between offshore and onshore companies in Dubai"},"content":{"rendered":"\n

Due to the great tax benefits in Dubai<\/strong>, the amount of both local and foreign business listed within the free zone in Dubai<\/strong>, has noticed a significant growth. Any companies that seek to use that tax free benefits to their advantage may be wondering which business model will be the most profitable for them: choosing local (onshore<\/strong>) or overseas (offshore<\/strong>) business operations?<\/p>\n\n\n\n

Here is a guide of comparison for both options:<\/p>\n\n\n\n

Cost comparison<\/h4>\n\n\n\n

Unlike onshore corporations, the cost structures are in much lower levels for offshore corporations, due to the presence of some renunciations offered to offshore corporations.<\/p>\n\n\n\n

Tax Agreements<\/h4>\n\n\n\n

In Dubai, both onshore and offshore companies are not required to submit any tax to the UAE government. With that being said, only onshore businesses can take advantage of the tax agreements the government has arranged with other nations.<\/p>\n\n\n\n

Corporate Operations in UAE<\/h4>\n\n\n\n

An offshore business is prohibited to perform any kind of business operation within UAE zone. On the contrary, an onshore company is allowed to conduct business operations after receiving an official license.<\/p>\n\n\n\n

Licensing<\/h4>\n\n\n\n

Due to the fact that there is no space for offshore corporations to perform corporate operations within UAE zone, they don\u2019t have to obtain a company authorization. On the contrary, an onshore corporation is required to obtain a license that distinctly specifies the company\u2019s operations entitled to perform in the country.<\/p>\n\n\n\n

Physical Building\/offices<\/h4>\n\n\n\n

An offshore business does not necessarily need a physical office to be established whereas an onshore business is obliged to possess a physical office\u2014this could be a small office with a desk or even a large building with various departments. The minimum space allowance for offices differs according to the field industry and corporate activities of the business.<\/p>\n\n\n\n

Residence Visa Requirements<\/h4>\n\n\n\n

Offshore businesses in Dubai are not given any residence visas since they don\u2019t have any physical presence in the zone. On the other hand, the UAE government will issue residence visas for onshore corporations under certain terms. The body for issuing of visas will take into consideration the office space and size of the business prior deciding which companies will be issued Visas.<\/p>\n\n\n\n

Financial Check Requirements<\/h4>\n\n\n\n

Differences between offshore and onshore companies in DubaiLast but not least, there is no obligation for an offshore business to reveal their financial reports. On the contrary, onshore businesses are subject to financial checks and obliged to offer their financial reports to the responsible bodies.<\/p>\n\n\n\n

Source: advicepro.ae<\/p>\n","protected":false},"excerpt":{"rendered":"

Due to the great tax benefits in Dubai, the amount of both local and foreign business listed within the free zone in Dubai, has noticed a significant growth. Any companies that seek to use that tax free benefits to their advantage may be wondering which business model will be the most profitable for them: choosing local (onshore) or overseas (offshore) business operations? Here is a guide of comparison for both options: Cost comparison Unlike onshore corporations, the cost structures are in much lower levels for offshore corporations, due to the presence of some renunciations offered to offshore corporations. Tax Agreements In Dubai, both onshore […]<\/p>\n

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