Off Shore

OFFSHORE COMPANY FORMATION

Offshore is the most modern popular way of managing business as they offer excellent and tax-efficient strategies for entrepreneurs. Important benefits are freedom of operations, confidentiality and ease of running business.

UAE is one of the well- known jurisdictions in the world for incorporating offshore company due to tax free business territory.

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.

JAFZA OFFSHORE COMPANY:

JAFZA offshore companies are special status non-resident companies formed as per the JAFZA Offshore Companies Regulations 2003. The offshore companies’ shares may be subscribed by individuals or corporate bodies both residents and non-residents of UAE. Such type of companies can be used as special purpose vehicles for commercial investment & owning freehold properties in UAE.

Operation Since 1996
Legislation JAFZA Offshore Company Regulations 2003
Date of Establishment 15 January 2003
Company Status Limited Liability
Shareholders Minimum One; no maximum
Suffix to the name Limited
Capital Structure Decided by shareholders
Shares Must be fully paid up when allotted No Bearer Shares allowed
All shares must be of same class
Administration Must have a Registered Agent approved by JAFZA
Registered office may be in JAFZA or in Dubai
Directors Minimum two Directors
Secretary Must have a secretary
Activities Allowed Professional contact with legal consultants, lawyers, accountants and auditors
To hold shareholders’ and directors’ meeting
To own properties developed by Master developers such as Nakheel, Emaar, Dubai Properties or other developers approved by the Authority
To hold a bank account in the UAE
To engage in General Trading (outside UAE)
To open branch office or representative office in any part of the world
To become shareholder in a limited liability company to be formed in Dubai/UAE
To become shareholder in any other entity formed in UAE or outside UAE or in UAE Free Zones
Activities Restricted To carry on banking, financial, insurance, reinsurance, insurance agent or insurance broker
To carry out any trading activity in the free zone or in the UAE
To carry on professional services, consulting services or activities related to intellectual property, media, security, publishing, advertising, movie production, management, gambling, casino, property development, game and win, advisory, real estate, military and education
Registration The Registrar is the final authority to accept or reject the application for registration. Upon registration, offshore company registration number will be allotted and incorporation certificate will be issued.
Registration Fees AED 10,000
Renewal Registration must be renewed annually (fee AED 2,500)
Winding up Summary winding up under Chapter 1,  Part 13 of the Regulations By the Creditors under Chapter 2, Part 13 of the Regulations
By the Court under UAE Commercial Transactions Law of 1993
Corporate Documents Incorporation Certificate, Memorandum & Articles of Association, List of Directors

RAK offshore offers businesses and individuals a wide range of comprehensive services and structures that are dedicated to non-residents. RAK OFFSHORE also benefits from one of the most comprehensive lists of non-double taxation treaties in the world, (including) with China, India, Italy, France and Germany.

It gives small and medium enterprises the option of off-shoring their business through the creation of dedicated instruments, and enjoying the resulting benefits, some of which are listed below:

» Asset protection and planning
» Confidentiality of execution
» Tax planning
» International visibility
» No exchange controls
» Access to a superb communicationand banking infrastructure
» Outsourcing
» Creative and genuine portfolioof dedicated services
» Property ownership for non-residentsin UAE free zones
» Compliant with best international standards for anti-money laundering

Shareholders Minimum One; no maximum
Capital Structure Decided by shareholders
Shares Must be fully paid up when allotted No Bearer Shares allowed
All shares must be of same class
Administration Must have a Registered Agent approved by RAK
Directors Minimum two Directors
Registration The Registrar is the final authority to accept or reject the application for registration. Upon registration, offshore company registration number will be allotted and incorporation certificate will be issued.
Corporate Documents Incorporation Certificate, Memorandum & Articles of Association, List of Directors