Offshore Company Incorporation in UAE

What is Offshore Company

Offshore companies are entities such as corporations or limited liability companies (LLCs) that have been filed outside of one’s country of residence. Offshore company incorporation is utilized, among other things, by those interested in asset protection, business expansion and financial privacy. Listed below is information summarizing the reasons for which these entities are formed:

• Privacy
• Asset Protection
• Tax Savings (depending on your jurisdiction)
• Lawsuit Protection
• Flexible Business Laws
• Business Expansion
• International Financial Diversification
• Confidentiality

Normally speaking offshore companies are the ideal business structure in today's world. Offshore companies are quick and easy to incorporate, priced affordably and free from all kind of bureaucracy. An offshore company can be set up within a day when you need it and does not require any attention like local registrations do. With literally no paperwork, no filing deadlines, no accounting and auditing offshore companies keep you free from all administrative burden and allow you to devote full attention to running your business. The simple and flexible structure makes offshore companies ideal for almost every business.

Offshore companies are the preferred company structure to achieve anonymity and privacy protection, keep all business details confidential and combine all this with limited liability and tax exemption. Every offshore company we offer is registered fully legal and able to conduct activities worldwide. It is realized today, that the costs for an offshore company in most cases are not higher than that to register a local company. The benefits of offshore companies are however amazingly greater than what a local company registration can offer. With an offshore company you do not have to pay sales tax nor income tax. Depending on the jurisdiction selected, offshore companies are also exempt from reporting, accounting and auditing. That means you save the costs of a CPA whilst at the same time gain the highest level of privacy protection. Your offshore company may be dormant or it may generate millions in profit you will still not be required to forward information.

The main advantages of offshore companies.

• anonymity, confidentiality and the highest level of privacy protection
• limited liability without any paid up capital requirement
• legal tax exemption; no taxation on any kind of income
• no accounting, no reporting, no filing, no auditing
• no accountant costs
• business can be conducted internationally
• and many more

UAE Offshore Company

There are 3 offshore jurisdictions in UAE namely RAK FTZ (Ras Al Khaimah) Offshore, RAKIA (Ras Al Khaimah Investment Authority) Offshore and JAFZA DUBAI (Jebel Ali Free Zone Authority) Offshore please note that we are the registered agents for all three jurisdictions in UAE.

Note:-

• Off-shore only offers virtual office, not a real space, either in JAFZA, RAK or in RAKIA, whichever is convenient.
• You can do international trading, with No sales in U.A.E., but definitely bank account can be maintained with said.
• Offshore doesn’t offer residence visa of UAE.
• You can Hold Property & shares within UAE by JAFZA Off-shore but it requires physical presence of the shareholder to incorporate. 

UAE offshore incorporation helps you to run your business or asset ownership in the Middle East in the most profitable manner. Especially because you avoid the cumbersome process of having the off shore incorporation company documents attested by various embassies and Ministries of Foreign Affairs

For your offshore incorporation in UAE, there exist many service providers offering a competitive offshore package. Such packages include services for operating your business, hiring local employees, entering into agreements, renting of office space, selling goods and company services, drafting contracts and offering investments, taxation and banking advice.

As UAE offshore incorporation requires an agent, you will need to choose one in order to register your company. The offshore package offered by any service provider stipulates that the agent representing the service provider would act as a link between the newly formed offshore enterprise and the local government. 

UAE Offshore Incorporation - Features and regulations

• The capital of the company can be any amount divided into any denomination.

• The minimum number of shareholders and directors is one.

• All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. However, there is no requirement to deposit the capital in bank.

• 100% foreign ownership permitted and 100% tax and duty exemption exists on UAE off shore incorporation companies.

• Opening a corporate bank account in a bank at Dubai, UAE is permitted.

• A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by UAE Free Zone.

• The Offshore domicile is located in the UAE Free Zone.

• The investors need not visit the authority to incorporate the company, however the documents need to be signed in the registered agent's office.

• Audited financials will be requested only in case of suspicion.

RAK Offshore has been established by the Ras Al Khaimah Investment Authority (RAKIA), the government body responsible for the socioeconomic growth of the Emirate, to address the region's growing demand for offshore markets, while at the same time to boost the emirate's ongoing economic diversification program. Within just 14 months of operation as an alternate offshore location in the Middle East, RAK Offshore has expanded its client portfolio to over 1,900 International Business Companies (IBCs) providing specialized services such as asset protection schemes and real estate holding.

Real estate and property investments are among the principal businesses of several international firms registered with RAK Offshore. Ras Al Khaimah, has also created a splendid mix of infrastructure projects and new policies to provide the best environment for the off shore incorporation of companies.

A key feature of RAK Offshore is that it offers complete privacy and confidentiality; owners of IBCs are kept confidential under law, ensuring a highly conducive business environment for both individual and corporate investors. RAK Offshore's portfolio of services includes a wide range of financial and non-financial services. Under its non-financial portfolio, RAK Offshore facilitates the establishment of IBCs whose activities include international trading, asset protection, tax planning and real estate holding.

RAK Offshore also supports a wide selection of outsourcing companies, and offers several marine-related services, including an open registration facility for vessels and yachts from anywhere in the world. Under its financial services portfolio, which has been forwarded to the authorities for approval, and is currently under review as per guidelines of the UAE federal authorities, RAK Offshore will provide in the future, a regulatory framework to establish a diverse range of funds, including Sharia-compliant investment products. RAK Offshore will also facilitate the establishment of different kinds of offshore trusts, which may be used to hold offshore companies or other assets under the RAK Offshore Special Corporate Trust Regulations.

We at Global Resources are available to answer any and all of your questions regarding the establishment of an offshore financial presence. You can contact us at any time, and our knowledgeable staff will be happy to help - and as always, all conversations and correspondence with Global Resources remains confidential.

Documents required to incorporate an offshore company

·         Valid Passport Copy for each Shareholders / Director

·         UAE entry stamp page copy

·         Letter of interest (agent appointment letter)

·         Three Proposed Company Names (Suffix should be LIMITED or INCORPORATED)

·         Personal & Business Profile of each shareholder(s). (CV)

·         Original Proof of Physical address of the shareholders. (utility bill)

·         Original Personal Bank Reference (Good standing) for the Shareholder(s) - the relevant account should have been maintained

RIZWAN ANJUM
Mobile: +971 50 794 6180
Skype  : rizwan_ach

Email:   bizzadvisors@gmail.com