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SFM IN PRESS

SFM wins the Best Agent Award in Ras Al Khaimah

14 February 2019

We are delighted to announce that SFM was bestowed with the Top Agent 2018 Award by RAK International Corporate Centre (RAK ICC) as the best-registered agent. The award has been granted in acknowledgement of SFM’s outstanding incorporation records for 2018 among other criteria. [..]

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What is the world’s best offshore jurisdiction?

31 January 2019

In the last 10 years, the world’s offshore industry has gone through major change. New offshore centers have emerged, while others have drastically reduced in size. [..]

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FREE ZONES, ONSHORE, OFFSHORE: WHAT ARE THE DIFFERENCES?

Free zone entity (FZE)

Dubai has multiple free zones on its territory. The main characteristic of a Free Zone entity is that it allows the client to own 100% of the corporation. Therefore there is no need for a local sponsor. The Free zone entity is allowed to transact within the free zone and internationally.

An office space is mandatory and residence visas are possible depending on the size of the office / work premises.

In few specific free zones (such as DIFC, DMCC) there is a mandatory requirement for accounts to be kept and audited yearly, but in most other free zones, no accounting/audit requirement is necessary.

Onshore

This type of incorporation entails the use of a Local person as a partner or an agent, depending on the type of incorporation. This local partner or agent is entitled to a yearly fixed fee, which is usually predetermined by contract. The advantage is that this type of incorporation allows for the conducting of business throughout the UAE and internationally.

An office space is mandatory and residence visas are possible depending on the size of the office / work premises.

There are no accounting or auditing requirements.

Offshore

This follows your typical offshore IBC type incorporations, there is no need for an office to be rented and therefore it does not allow for the issuance of residence visas for this type of incorporation.

There is no accounting or auditing requirements.