Being a tax haven, UAE is home to a large number of offshore companies. This entity can only function beyond the national boundaries of its registered country. Whereas the company is allowed to acquire assets, invest and hold shares in UAE based on certain rules and regulations. The whole idea is to make use of beneficial tax laws, which is not available in other operating countries. An offshore company ensures anonymity of the directors and shareholders of the company and can only be formed through a registered agent. We shall be happy to assist you with the procedure. Walk-in to our office for more information.
Advantages of Offshore Incorporation
Here are just some of the general benefits of offshore company incorporation;
Anonymity
Asset Protection
Financial Privacy
Tax Free area
Operational Simplicity
The three principal jurisdictions in UAE offering Offshore Company Incorporation are Ras Al Khaimah (RAK), Jebel Ali Free Zone (JAFZA) and the recently launched Ajman Offshore by Ajman Free Zone. All are tax free jurisdictions that levy no income tax or corporate tax and permit 100% foreign ownership.
JAFZA Offshore Company
In the year 2003, the Jebel Ali Free Zone Authority (JAFZA) introduced the establishment of Offshore Companies under their jurisdiction. This opened new doors for international business community to carry out businesses as per the international offshore regulations.
Shareholding & Directorship
Shareholders
Minimum of one shareholder is required
Corporate shareholders are allowed
International corporate shareholders are required to have all company documents attested
Directors
Minimum of two directors are required
Corporate directors are not allowed
Details of directors are not available on the public register
Share Capital
No minimum share capital required
Secretary
Every company must have a secretary
A company director may also act as company secretary
Permitted activities
International Trade
Real Estate Investments
Brokerage
Intellectual property rights holding
Consultancy
Ship/ yacht registration
RAK Offshore Company
The RAK Offshore Company was established since 2006 and is governed by the Ras Al Khaimah Free Trade Zone Authority International Companies Regulations. This is the sole offshore in UAE which does not mandate the partners presence for the business set-up procedures.
Shareholding & Directorship
Shareholders
Minimum of one shareholder is required
Corporate shareholders are allowed
International corporate shareholders are required to have all company documents attested
Directors
Minimum of one director is required and corporate directors are permitted
Details of directors are not available on the public register
Secretary
Every company must have a secretary
A company director may also act as company secretary
Share Capital
No minimum share capital required
Key Benefits
100% Foreign Ownership
Fast Incorporation
Gateway to the international market
Stable and business-friendly legal system
No restriction on citizenship and no residency limitation
Can hold shares in a free zone company as well as in an onshore (LLC) company
High level of privacy and confidentiality guaranteed
Businesses can have multiple bank accounts in different currencies to carry out their international business operations
Ajman Offshore Company
Ajman Free Zone, incorporated in 1988, recently introduced a new initiative called Ajman Offshore. It serves as an investment medium for businesses and offers them the benefits of an offshore company, including zero taxation and anonymity. It has become one of the most popular Offshore Jurisdictions in the world. The easy set up process and popularity of Ajman as one of the fastest growing regions attract investors to invest in Ajman Offshore.
Permitted activities
International Trade
Property holding in Ajman
Property investment
Brokerage
Service oriented activities
Stock market trading
Ship/ yacht registration
Consultancy
Documents required for Offshore Company Set Up in UAE
Original Address Proof Documents
Original Bank Reference Letter
Bank Statement of all the partners (Last 6 months)
Curriculum Vitae off all the partners (summary of professional history)
Memorandum of Association (MoA) and application for setting up an offshore company
A registered agent is mandatory for offshore company registration and Prime Global Business Services can act on your behalf for all such legalities.
