A UAE Offshore International Company (IBC) enjoys several benefits including:
• No Taxes: There are no corporate taxes, no capital gains tax, no income tax, no withholding tax; no value added tax (VAT), and no export or import taxes. However, U.S. taxpayers and everyone residing in a country which taxes global income must report all income to their tax authority.
• Limited Liability: The liability of a shareholder is limited any amount unpaid on a share held by the shareholder.
• Privacy: The names of the shareholders are not part of any public records.
• One Shareholder: Only a minimum of one shareholder is required.
• One Director: Only a minimum of one director is required.
• Numerous Business Activities: professional services, general trading, advisory and consulting services, investments, online business, and acting as a holding company for global assets.
• English: While not being the official language, all documents can be prepared in English which is a widely spoken language in the UAE.