Welcome to ILS World

Isle of Man

Secure, efficient and business friendly, ILS World's approach is defined by our home jurisdiction, the Isle of Man.

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British Virgin Islands

ILS World opened its doors in Road Town, Tortola in 1994. From this central location in the British Virgin Islands we provide a timely and efficient service, drawing upon locally cultivated knowledge and applying it within an independent, global network.

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China

From our Shanghai office, ILS World provides commercial and private clients access to the right global network to meet their ambitions.

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Dubai

The ILS World independent network expanded into the Middle East's vibrant economic and cultural centre in 2005. Since then, we have combined Dubai's excellent reputation as a business friendly and well regulated economy with our significant experience in the jurisdiction to deliver peerless fiduciary, regional incorporation and corporate administration services to clients operating in this exciting marketplace.

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Hong Kong

ILS World combines a straightforward and efficient service with Hong Kong's business friendly environment to offer our private and commercial clients confidence and peace of mind in a dynamic marketplace.

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London

Our London office is ideally situated to serve a large local client base. It is the hub of ILS World’s administrative function for our UK client companies and an excellent location from which to liaise with a global client portfolio.

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Portugal

Our expansion into Portugal in 1999 was in response to the needs of our clients. We’re here because you need us to be. Since then, ILS World’s presence in this exciting marketplace has enabled us to better meet considerable demand for offshore wealth management and protection services and do so with the care and pragmatism expected of all ILS World locations.

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Switzerland

ILS World opened its doors in Geneva in 2005 and offers a full range of corporate and fiduciary services. With expertise in international holding and trading structures and the ability to manage those structures from within one of the world’s most respected and stable jurisdictions, the business has grown organically and rapidly.

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Uruguay

We draw upon Uruguay’s reputation as a strong economy with a stable fiscal and political environment and robust regulatory practices to offer clients wishing to invest in and manage wealth within South America the perfect regional platform.

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The UAE: A Base for Business

When considering the UAE as a base for a business, or as part of a wider structure, it is important to understand the corporate options available and which of the seven Emirates to be based from.Although there are a plethora of options, these can be bracketed into three distinct groups; offshore, free zone or mainland company.
Posted by Jason Bowers
on Monday 26th September, 2016

Offshore companies such as Ras al-Khaimah ( RAK), Ajman and Jebal Ali, are viable alternatives to the more traditional International Business Company (IBC). However, they are not permitted to conduct any business within the UAE, other than to engage banks and professional services to support their international operations. The one exemption is that a Jebal Ali Offshore is the only corporate entity that may own property in Dubai. These companies are flexible, discreet and low cost options.

Free Zone

The UAE has 38 free zones with 9 more under construction. The Free Zones have been designed and developed to support specific sectors. We work closely with a number of them, the most popular being; Dubai International Financial Centre (DIFC), Dubai Multi Commodities Centre (DMCC), Dubai Silicon Oasis (DSO), Fujairah Creative City Free Zone and Jebal Ali Free Zone (JAFZA).

Free Zone companies are also not permitted to conduct business within the mainland UAE, but offer considerable advantages for international operations. DIFC and DMCC are especially recognised as major financial and trading centres, while DSO is a burgeoning tech hub and JAFZA boasts the world's largest man-made port.

Although each have there own idiosyncrasies, often the attractions are no corporate taxes (or personal taxes for employees), no restrictions on foreign employment, state-of-the-art technology, leading-edge banking facilities, political stability, a huge range of licensable activities and of course the prestige of the location which also affords easy access to Europe, Asia and Africa.

Mainland

Mainland companies are those permitted to conduct business within each Emirate. The first decision is to choose the Emirate and apply for an appropriate license. Licenses are given for professional and commercial businesses with a vast range of activities available.

The perceived disadvantage of a mainland company is that it requires a 51% local owner, but other options are available that mitigate this. For example, if the company is only directing business back to a parent, a Representative Office could apply, whereas if it were acting in its own right, but still in line with the activities of its parent, a Branch Office would be applicable, neither of which require a local owner and afford 100% foreign ownership.

Even in chases where a 51% local owner is required, we are in the unusual position of being able to offer a corporate shareholder rather than an individual from the UAE. The main benefit is mitigating concerns about coming into the market and selecting a local partner who may leave the UAE, change his mind, or at worst case, pass away during the course of the year leaving the company and it's shareholders in legal limbo. With a corporate entity, the contractual terms remain in place, so it gives more stability to the arrangement than having an individual being the local partner.

Furthermore, the law permits the issuance of constitutional documents for an LLC to contain provisions designed to protect the interests of the foreign minority shareholder, including but not limited to the profits distribution, assets entitlement, appointment of directors/managers, powers of administration, and influence in decision making.

For further information about doing business in Dubai please contact us.

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