UAE has 3 authorities which register Offshore companies. It is JAFZA, RAK ICC and Ajman.
Regardless of the place of registration, UAE offshore companies share a few common features and rules:
It cannot carry out the business in the local UAE market. It means that UAE offshore company can do the business only with the companies registered outside UAE or with other offshore companies registered in UAE. By doing business in UAE, we mean that offshore company is not able to receive the funds coming from accounts of UAE mainland or free zone companies.
It is not eligible for UAE resident visas or UAE tax residency certificate. If you need any of those, you need to apply for a Free Zone company.
Registration and maintenance of UAE offshore company is cheaper than any other type of company here.
UAE offshore company can have a bank account in UAE, but approval of the account usually takes longer that a Free Zone or a Mainland company account.
UAE offshore companies can combine various activities from different categories - trading, service, brokerage and others - without extra costs
The only significant difference between JAFZA, Ajman and RAK offshores is that JAFZA offshore is allowed to hold property in Dubai, whereas the other two are not. This is the reason which makes JAFZA the most expensive type of UAE offshore company. Another thing to remember is that JAFZA offshore requires physical presence of the shareholder for the registration.
All offshore companies can be incorporated only through a registered Agent, approved by the authority. Agent prepares all the documents and carries out the setup procedure for you.
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