Offshore Company Incorporation

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

Annual Reporting

Every company must keep accounting records for 7-10 years from the date of preparation

The company must appoint an auditor (from an approved list) to examine and report on accounts

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

Annual Reporting

Every company must keep accounting records for 7 years from the date of preparation

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.

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