UAE Offshore
Dubai Offshore Business setup
Jebel Ali Dubai Business setup
Ras Al Khaimah Business setup
Ajman Offshore Business setup
Benefits UAE Offshore Business Setup
- Tax benefits through exemptions from corporate and income taxes to provide significant tax advantages.
- Asset protection by providing a legal separation between personal and business assets offering increased security and mitigate risks in case of legal claims
- Privacy and confidentiality by keeping shareholder information and financial details confidential, providing a level of anonymity and protection for company owners.
- Ease of company setup with a straightforward and efficient process.The UAE has established well-defined procedures and infrastructure to facilitate business formation.
- Access to global markets as the UAE is strategically located at the crossroads of Europe, Asia, and Africa, providing easy access to a wide range of global markets.
- Repatriation of profits without restrictions. Business owners can freely transfer funds in and out of the country, facilitating international transactions and financial operations.
- Business-friendly environment through modern infrastructure, state-of-the-art facilities,100% foreign ownership, simplified customs procedures, and no currency restrictions.
- The UAE has a diverse and skilled workforce comprising both local and international talent.
- Networking and business opportunities, collaboration, and partnerships with local and international companies.
Requirements For UAE Offshore Company Formation
Choose the offshore jurisdiction
Decide on the free zone where you want to establish your offshore company. JAFZA and RAK International Corporate Centre are the main options, but there are other free zones available as well.
Select a business activity
Determine the type of business activity you intend to conduct. Different free zones may have specific regulations or limitations on certain activities, so ensure your chosen free zone allows your desired business activity.
Name your company
Choose a unique name for your offshore company. The name should comply with the naming guidelines of the chosen free zone.
Engage with a registered agent
In the UAE, offshore companies require a registered agent to facilitate the setup process. Consult with a registered agent who will guide you through the entire process and assist with the necessary documentation.
Provide required documentation
Prepare the necessary documents, which typically include:
- Passport copies of shareholders and directors
- Proof of address (such as utility bills or bank statements) for shareholders and directors
- Bank reference letters
- Curriculum vitae (CV) of shareholders and directors
- Business plan
Submit the application
Complete the application form provided by the registered agent and submit it along with the required documentation. The registered agent will assist you with this process.
Obtain the offshore license
Once the application is approved, you will receive the offshore license, which allows you to conduct business activities in the chosen free zone.
Open a bank account
After obtaining the offshore license, you can proceed to open a corporate bank account for your offshore company. You will need to fulfill the bank's requirements and provide the necessary documentation.
Fulfill ongoing compliance requirements
Ensure that you comply with the ongoing requirements of the free zone, such as annual license renewals, filing of financial statements, and maintaining a registered office address.
Frequently Asked Questions
- An offshore business setup in the UAE refers to the establishment of a company in a designated offshore jurisdiction within the United Arab Emirates. These jurisdictions, such as Ras Al Khaimah (RAK) and Jebel Ali Free Zone (JAFZA), offer various advantages like tax benefits, asset protection, and privacy for international businesses.
Setting up an offshore company in the UAE offers several benefits, including:
- Tax advantage
- Asset protection
- Privacy and confidentiality
- Ease of company formation
An offshore business setup in the UAE is advantageous for various individuals and entities, such as:
- International entrepreneurs and investors seeking tax optimization and asset protection.
- Professionals in consultancy, advisory, or other service-based industries looking to expand their business internationally.
- Individuals who wish to hold and manage their assets, including real estate, intellectual property, or investments, through a secure offshore structure.
- No, an offshore company in the UAE is prohibited from conducting business activities within the UAE. It cannot have a physical presence, employ staff, or engage in commercial operations within the mainland or free zones of the UAE. However, it can hold shares in other UAE companies, own real estate properties, or maintain bank accounts in the UAE.