Why Molybank Recommends Dubai

It's all about Substance

For the last 23 years we've been ahead of the game bringing to the market many new and inventive ideas that have proved very beneficial to our international clients, most recently our unique bank account pre-approval service, which allows us to obtain pre-approval from one of the many banks that we are licensed to introduce clients to worldwide.

Dubai

In 2011 we became licenced introducers to the UAE Ras Al Khaimah (RAK) companies, and this has proved to be a great success for our company and clients.

Dubai offers a number of IBC jurisdictions as do we, Ras Al Khaimah (RAK) and Ajman IBC Companies being our most popular IBC products and jurisdictions.  Ras Al Khaimah (RAK) and Ajman IBC Companies are the UAE versions of IBC, or Offshore Companies, being based in the UAE, but run (as are all IBCs) from a foreign base. The difference between the UAE IBC companies and the UAE free-zone company is that the company is physically based in the UAE - and customer and client invoices are from the Free-Zone Company. The Buzzword for such Companies is Substance.

Now let’s look at the individual UAE Company jurisdictions, starting with Ras Al Khaimah (RAK) IBC Companies.

Ras Al Khaimah (RAK) IBC Companies.

With over 25 years of experience in International Company formation and offshore company formation, I have never come across a jurisdiction offers so much in the way of company image and confidentiality. Like all IBC companies, Ras Al Khaimah companies are free of corporation tax and taxes such as VAT. RAK companies are the UAE’s version of an offshore company with all the benefits that this provides, nonet least of which are those of total confidentiality, with no register of shareholders or directors of companies. As a company, we have never supported tax avoidance, but we are firm believers in the ability for our clients to have total confidentiality and security of their affairs in the dangerous world that we live in today, so if you are seeking to form a company that offers a superb, non—tax haven image, coupled with total security and confidentiality, Dubai Ras Al Khaimah (RAK) companies are a perfect choice.

UAE (Dubai) Free-Zone Companies.

So, what is a Free-Zone Company? A free-zone company is a company physically resident and run from the Free-Zone. Whilst still free of corporation tax and free movement of profits worldwide, a Free-Zone company is considered to have more substance than an offshore company. When forming any type of international company, it is wise to consider how your own customers and clients will view the location of your business and its tax affairs. Such companies usually come with offices provided on a ‘hot desk basis’ or at additional cost a permanent office location in the UAE.

Of the many free-zones in Dubai, our favourite Free-Zone companies are the Ajman Free-Zone companies. This is one of the best free-zones in the area and is a modern jurisdiction with full facilities and a great location. With these companies, we can provide renewable residency visas on a two to three-year basis. Unlike UAE Ras Al Khaimah IBC companies, formation of a free-zone company will require a visit of 2 to 3 days to Dubai to finalise the company formation and opened the company’s banking facilities with one of the top banks in Dubai. We have husband-and-wife team based in Dubai that will look after you during your trip and ensure all the documentation for the company and the opening of the bank account is in order, and they will take you through the whole process.

If your budget is more limited, the next best option would be an Umm Al Quain (UAQ) Free-Zone Company. UAQ companies are available at a more modest cost and can be supplied with or without residency visas.

Summary

There are dozens of offshore jurisdictions available worldwide however, many of them have been tainted by terrible publicity and image, in many cases justifiably so. Dubai companies are well regulated with a superb corporate image and great tax advantages.

In the event that Dubai is not to your taste, our best option would be a Seychelles IBC company. We have operated in the Seychelles for the past 19 years. It’s a modern jurisdiction and like all IBC companies, Seychelles companies are tax-free.

Further information on all of the above are available on this website at: www.molybank.co.uk/products-services or call us on: + 44 (0)1305 853310

 


Considering moving your business abroad?
Take a serious look at Ajman Free Zone Companies in the UAE (Dubai). Ajman Free Zone Companies allow you to move your business to a completely tax free, Free Zone, allowing you to run your business completely free of ‘Red Tape and Bureaucracy’ whilst allowing you, your family or staff to live in a fabulous Country with all it has to offer.
Our Ajman Free Zone package includes all you need to relocate or start your new business in the UAE, including Visas, office space business licence etc.
For full details, please contact our specialist team to arrange an initial telephone or Skype call, or if you prefer, a meeting at our offices in Dorset or at a pre-arranged meeting in London.
Complete packages start at just, £14,950.00 which include everything to transfer your business including 2 Visas, office space and all utilities.
Packages for larger Companies which include extra Visas are available from £27,000. Contact us with your specific requirements. More details here.

 

Advantages of Ras Al Khaimah (RAK) Formation over Jebel Ali (Dubai Offshore)

  • Jebel Ali (Dubai) requires a minimum of 2 shareholders and their physical presence required in Dubai to arrange the formation
  • A RAK company requires only 1 shareholder and they are not required to be there in person.
  • Auditing is also essential for all Jebel Ali (Dubai) companies
  • Cost of Dubai formation is significantly more
  • Both Ras Al Khaimah & Jebel Ali (Dubai) provide the same end result, ownership of an Offshore UAE company with Dubai Bank Account.

For further information please contact our team on +44 (0)1305 853310 or email info@molybank.com.