Offshore Company Registration in UAE

All you need to know about Offshore Company Registration in UAE Introduction The United Arab Emirates (UAE) has become a prominent destination for businesses seeking to establish an offshore presence. With its robust legal framework, strategic location, political stability, and tax advantages, the UAE offers an attractive environment for international entrepreneurs. Here, in this article, we will focus on a step-by-step guide to offshore company registration in the UAE. Offshore Company Setup in UAE Offshore Companies in the UAE are basically Holding Companies, Set Up for getting financial, legal and tax benefits by having most of its operations in the UAE. Offshore Companies have permission to open a bank account in the UAE. However, these companies i.e. Offshore Companies in UAE are not allowed to issue work visa under the name of the company. Also, the Offshore companies are prohibited from having a physical office within the UAE. However, these companies can own a real estate in the free zones such as JAFZa and RAKICC in the UAE. Advantages / Benefits of Offshore Companies Formation in the UAE The main advantage of an Offshore UAE Company is that it's startup cost is very low. The process for setting up and incorporating an Offshore Company is very Speedy. The Offshore Companies in the UAE are 100% tax-free Also, these companies are permitted to have 100% foreign ownership. Paid-up share capital or audit is not required in the Offshore Company in the UAE. The Offshore Companies in the UAE are allowed to open Multiple bank accounts. How to setup an Offshore Company in the UAE? The UAE has several jurisdictions that offer offshore company registration, such as Jebel Ali Free Zone (JAFZA), Ras Al Khaimah International Corporate Centre (RAK ICC), and Ajman Offshore, among others. Each jurisdiction has its unique advantages and requirements, so it is crucial to select the one that aligns with your business goals. Let us discuss the stepwise process for an Offshore Company setup in the UAE for each of the above-mentioned jurisdiction. Jebel Ali Free Zone Offshore Company (JAFZA) Choose JAFZA as the jurisdiction for your offshore company registration. Select a unique company name that complies with JAFZA's rules and regulations. Engage an approved registered agent to handle the registration process and documentation. Finalize the business type and activities of your offshore company. Determine the share capital for your company (no minimum requirement). Decide on the shareholders, directors, and secretary for your offshore company, and prepare the Articles of Association and Memorandum of Association. Gather the necessary documents, including: Notarized passport copies of shareholders and directors. Proof of address for the company. Bank reference letter. Shareholders' brief resumes. Provide the documents to your registered agent, who will submit them along with the required fees. The registered agent applies for the company name approval from JAFZA. Sign and submit the application form, Articles of Association, Memorandum of Association, and share certificate to JAFZA. The registration process typically takes one to two weeks for approval. Once approved, the Authority issues the Certificate of Incorporation, Memorandum of Association, and Share Certificate. Open a bank account in the name of your offshore company and commence business operations. Suggested Read - Free Zone company Registration in UAE Ras Al Khaimah International Corporate Center (RAK ICC) Choose RAK ICC as the jurisdiction for your offshore company registration. Ensure you have at least one shareholder, one director, and a secretary for the offshore company. No local shareholder is required; 100% foreign ownership is permitted. Determine the share capital for your offshore company (no minimum requirement). Offshore companies registered in RAK ICC can hold shares in local companies in free zones and onshore (LLC) companies. The registration process in RAK ICC is faster compared to other free zones, taking a maximum of one week. The names of directors and shareholders are not publicly disclosed. Ajman Offshore Choose Ajman Offshore as the jurisdiction for your offshore company registration. Ajman Offshore offers a zero-tax business setup with 100% capital and profit repatriation. Maintain confidentiality and privacy of all documents and records of registered companies. Shareholders are not eligible for a UAE residence visa but can invest in UAE companies. Various business activities are allowed, including holding company, joint investment company, general trading, and consultancy services. Ajman Offshore ensures the safety and privacy of investors and attracts entrepreneurs worldwide. Common Documents required for an Offshore Company Registration in the UAE Business plan (At least for 3 years). (not must) Certified Passport Copies of the Shareholders Original Bank reference letter or 6 monthly bank statements (stamped by the bank). Proof of Address (Ex. Utility bills, etc..) CV of the shareholders. Passport copies the shareholders. 3 options for name reservation. Business Activity Conclusion Establishing an offshore company in the UAE offers numerous advantages, including tax efficiency, asset protection, ease of incorporation, strategic location, and profit repatriation. By following the step-by-step procedures outlined in this guide and leveraging the expertise of a registered agent, international entrepreneurs can navigate the process smoothly. As always, it is recommended to seek professional advice to ensure compliance with local laws and regulations. Embrace the opportunities that the UAE offers, and set sail towards a successful offshore venture.

Offshore Company Registration in UAE

A Complete Guide on Offshore Company Registration in UAE