Creation of an Offshore Company
In the UAE, the registration of offshore companies is quite popular, possessing significant differences compared to regular companies.
An offshore company is not allowed to conduct business activities on the country`s territory (including working with legal entities - residents), import goods into the local market, or lease an office. At the same time, they are exempt from all types of taxes, including VAT, corporate tax, and any others.
Schedule a consultationOne of the significant advantages of registering an offshore company is that the inheritance of a deceased shareholder is subject to distribution according to the personal law of such a shareholder, whereas, as a general rule, Sharia rules apply. Thus, the process of investing in assets in the UAE through an offshore company helps mitigate the risks of inheriting property not according to the wishes of investors.
Restrictions imposed on offshore companies,
consist of the following:
It is not allowed to conduct entrepreneurial activities in the UAE and work with legal entities - residents
Prohibition on renting an office in the UAE
Limited to conducting banking, financial, and insurance activities, as well as any activities related to precious metals, gas, and oil
At the same time, offshore companies have the right:
Conducting commercial activities on the international market (including trade, professional, and consulting services)
Ownership of real estate in the UAE (in certain cases)
Establishment of subsidiaries
Opening bank accounts
An offshore company can be registered
only in one of the specific state free economic zones:
Process
of Opening
an Offshore Company
Opening an offshore company has specific features not inherent in the process of registering regular companies on Mainland or Free Zone.
In short, the process of registering an offshore company includes the following stages:
Choosing a suitable Free Zone that registers offshore companies
Preparing documents
(translation and legalization)
Choosing a trade name
Developing the Memorandum of Association
Submitting documents and paying fees
Obtaining additional
permissions (if necessary)
Opening bank accounts
(if necessary)
We help our clients achieve their business goals as efficiently as possible.
Contact us today to find out how we can help you establish your business in the UAE!
Our Services
Preparing documents for the opening of an offshore company
Creating an offshore company
Renewal of the license for an offshore company
Making changes to the articles of association of an offshore company
Liquidation of an offshore company
Obtaining additional permits for business activities (if necessary)
Timeframes
Registration time for an offshore company in RAK ICC and Ajman Free Zone — 1 working day.
Meanwhile, in JAFZA, it may take up to 15 working days.
Cost
Company registration cost
from 10,000 AED per month (from 2,600 USD)
A package of services is more profitable!
Light
Includes the following:
Company registration
Founding documents
1 corporate bank account
From 29,900 AED (from 8,200 USD)
Standard
Includes the following:
Company registration
Founding documents
1 corporate bank account
1 personal bank account
From 37,500 AED (from 10,200 USD)