OWME Global Business Services

UAE Company Formation

UAE COMPANY FORMATION / Ras al Khaimah / Offshore Company Formation

Offshore Company Formation Dubai

The emirate of Dubai, through its Jebel Ali Free Zone, and the emirate of Ras Al Khaimah, through its Ras Al Khaimah International Corporate Center (RAKICC) offer an International Business Company (IBC) regime.
These companies are ideal for any type of business that does not require a local office. This includes any passive investment activity eg holding shares in local or free zone companies, holding UAE real estate, or trading activities outside the UAE. IBCs cannot rent office space nor can they apply for staff visas and they are not allowed to trade with parties inside the UAE. RAK IBCs have the following attractive features:

  • not necessary for the owner or manager to visit the UAE in person
  • no requirement to deposit capital in a bank account
  • the only data on public record is the name of the company and date of incorporation
  • no requirement to submit financial statements
As with local and free zone companies, offshore company formation can benefit from some of the tax treaties concluded by the UAE, by setting up a free zone branch.  If a local corporate bank account is required, for instance in order to benefit from the strong client confidentiality rules applicable in the UAE, then an offshore company from another jurisdiction is simply not a feasible option. There are very few banks in the UAE that even allow foreign entities to open bank accounts, and for the ones that do, the attestation fees are high.

Offshore companies can only be incorporated through a licensed registered agent.

Characteristics of Offshore Company Setup Dubai
  •       Minimize Taxes
  •       Confidentiality
  •       Reduced Adminstration
  •       Asset Protection
  •       Low Maintenance Cost
Types of Offshore Company Registration in UAE

Offshore company can have any of the following legal structure depending on the which offshore under which company registration

  •       Offshore Company
  •       Offshore Trust
  •       Offshore Partnership
  •       Private Foundation 

When you compare offshore company formation Dubai and other offshore jurisdictions your wealth is equally secure and confidential in either of them. But there are some important differences mainly in costs of registration, documents demanded from shareholders, permitted activities and property registration scope.

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