Establishment of Offshore Company
Registration of offshore companies is quite popular in the UAE, which have significant features compared to regular companies.
An offshore company may not conduct business activities in the country (including working with resident legal entities), import goods to the local market or rent an office. At the same time, they are exempt from taxes of all kinds, including VAT, corporate tax and any other taxes
Another major advantage of registering an offshore company is that, in the event of the founder’s death, the inheritance of their shares is distributed according to the personal law applicable to that shareholder, rather than under Sharia law, which is the general rule in the UAE. As a result, investing in UAE assets through an offshore company helps mitigate the risk of property being inherited against the investor’s wishes.
We recommend that you familiarize yourself with the official requirements for registering a company in Offshore.
The restrictions imposed on offshore companies are as follows:
It is not allowed to do business in the UAE and work with resident legal entities
Ban on renting an office in the UAE
Banking, finance and insurance activities, as well as any activities related to precious metals, gas and oil are restricted
At the same time, offshore companies are entitled to:
Conduct commercial activities in the international market (including trade activities, professional and consulting services)
Owning real estate in the UAE (in certain cases)
Establishment of subsidiaries
Opening of bank accounts
An offshore company may be registered
only in one of the free zones designated by the state:
Opening an offshore company has specific features that are not present in the process of registering regular Mainland or Free Zone companies.
In brief, the Offshore company registration process includes the following steps:
The process of
opening an
offshore company
Opening an offshore company has specific features that are not present in the process of registering regular Mainland or Free Zone companies.
In brief, the Offshore company registration process includes the following steps:
Selecting the appropriate Free Zone registering Offshore companies
Preparation of documents (translation and legalization)
Selecting a trade name
Developing a charter (Memorandum of Association)
Submission of documents and payment of fees
Obtaining additional permits (if necessary)
Opening of bank accounts (if necessary)
Timeline
The term for registration of an offshore company with RAK ICC and Ajman Free Zone is 1 business day.
JAFZA will take up to 15 working days to process.
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 within the UAE!
Our services
Preparation of documents for opening an Offshore company
Establishment of Offshore Company
Offshore company license renewal
Amending the Articles of Association of Offshore Company
Liquidation of Offshore companies
Obtaining additional permits to conduct activities (if necessary)
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