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OFFSHORE COMPANY FORMATION IN DUBAI

LAST UPDATED: 05/10/2020

Offshore company formation in Dubai is one of the best ways to start your global business. UAE is a tax free white listed jurisdiction, which has 2 major offshore registering authorities: JAFZA and RAK ICC. 

Offshore company registration in Dubai is done at JAFZA, but registration of offshores can also be done in Ras Al Khaimah. 

Many people from abroad search for offshore company setup in Dubai. They often mean opening a company in an overseas jurisdiction such as UAE, regardless of the registering authority. However, business setup consultants in Dubai and local residents mean the actual offshore company as opposed to the free zone of mainland - the other two legal types of entities in UAE. 

RAK ICC offshore company

KEY FEATURES:

Established2015
Business typesInternational company
Corporate addressDubai, UAE
Time frameRegistration 2 days
Personal presenceNot required

RAK ICC is a corporate registry, where RAK International Business Companies, of Offshore companies in other words, are incorporated. RAK ICC complies with international standards and practices and is recognized internationally.

RAK ICC is one of the few places in UAE where you can register an Offshore company. This type of company allows you to carry out the business out of UAE anywhere in the world, but have a UAE bank account and official place of registration. Offshore company is a very convenient tool for those who carry out international business.

Companies are incorporated through registered agents, who provide all services of setup and maintenance to the clients. Your Agent can assist you in remote company registration, but you will have to come to UAE for bank account application.

+ PROS

  • Low cost for the registration and renewal
  • Various business activities (allowed to combine many unrelated business activities)
  • Personal presence for registration is not required

- CONS

  • Not allowed doing business in the UAE
  • Resident visas are not applicable
  • Longer time and more requirements to open a bank account

JAFZA offshore company

KEY FEATURES:

Established 22003
Business typesInternational company
Corporate addressDubai, UAE
Time frameRegistration 1 week
Personal presenceRequired

Jafza Offshore is a well-known type of Offshore company which is registered by Jebel Ali Free Zone Authority.

As any Offshore company, JAFZA Offshore is allowed to have a offshore bank account in UAE but carry out the business outside of the country of its incorporation.

One unique advantage of JAFZA Offshore is the fact that this type of company is allowed to hold real estate property in Dubai. Jafza Offshore is the most cost-efficient way to hold property under a company rather than your personal name.

+ PROS

  • Allowed to own property in Dubai

- CONS

  • Obligatory to have 2 Directors in the company
  • Personal visit for the registration is required

Offshore company setup in UAE is the cheapest and easiest way to have an international business. Bank account opening might be more difficult, but if you meet certain conditions, such as having an existing business back home, the account should be approved. 

Offshore company setup in Dubai is also a good way to hold your UAE property under a corporate name instead of your personal name. 

If you register offshore company in Dubai you will open ways to global markets or enhance your presence there, optimize taxation and start off your business journey in the UAE. 

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