Setting up an offshore company is an attractive option for a foreign investor if the business activities are intended to be carried outside of the UAE. Being a de facto foreign company, a registered office is thus neither needed nor allowed. The registered office of the offshore company.
The offshore company’s management can be located anywhere in the world, thereby making international business activity the main criterion and minimizing administrational efforts. The low costs of establishing and maintaining an offshore company as well as the high degree of liberality, the possibility of anonymous operating, the absence of the obligation to publish financial statements and the exemption from taxation are the main reasons for its growing popularity.
Offshore companies may be setup for various purposes, be that for international trade, as holding company for shareholding, for the registration of vessels, for safeguarding of capital or acquisition of real estate. Even though an offshore company cannot procure a residence visa in the UAE, it is still possible to set up a business account with a UAE bank.
Offshore companies enjoy a special legal status and comes with numerous benefits such as:
- No Corporate tax
- 100% foreign ownership
- Limited Liability Company
- No Tax Information Exchange Agreements
- Absolute Privacy and Confidentiality
- Ability to maintain multi-currency Bank accounts in the UAE
- Virtual office facilities available in the UAE.
Offshore companies are the most suitable form for following business:
- International trading
- Property holding
- On-line advertising
- Ship registration
- Stock-market trading
It is important to note that there are some restricted business which are not permitted:
- Financial activities
- Insurance and re-insurance
- Any activity related to media
- Any activity related to aviation
- Any business with UAE “onshore” companies
- Establishing a branch in the UAE
In UAE there are 3 offshore Jurisdictions: Ras Al Khaimah International Corporate Centre (RAKICC), Jebel Ali Freezone Authority (JAFZA) & Ajman Freezone.
Fichte & Co. Legal is the registered agent for Ras Al Khaimah International Corporate Centre (RAKICC) & Jebel Ali Freezone Authority (JAFZA) offshore companies.
For more information or enquiries, email us at email@example.com
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At Fichte & Co, Managing Partner Jasamin Fichte leads a team that is ‘impeccable, in all areas.’ It handles an array of high-value claims for international clients and government entities.
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