It can be considered as a synonym of Offshore company. IBC is a company incorporated in Free Economic Zone. It serves the purpose of carrying out international business of any type.
IBC is entitled to have a bank account in UAE. Shortly, if you need a company in tax-free jurisdiction and a bank account, IBC is for you.
IBC can be incorporated by individuals or companies. The source of income of IBC should be outside of the jurisdiction of its registration.
– IBCs are not eligible for visas
– IBCs cannot carry out business in UAE
– IBCs cannot open office in UAE (they have only legal address in UAE)
UAE is not a “tax haven” and not blacklisted by Financial Action Task Force (FATF). Opening an IBC in UAE, you are fully protected by the UAE law and carry out your business in a legal way by all international standards.
Many Offshore jurisdictions have Agreements with tax controlling authorities of different countries. It means that the name and the income of the end beneficiaries are not protected and must be disclosed by a request from these Authorities. In UAE all the details about shareholders and directors of IBCs are strictly confidential and cannot be disclosed by any request.
IBCs can be used for trading, intermediary or professional services, as property holding companies, shareholders or investors of other UAE companies. The only restricted activities are finances and insurance.
Your company will have a registered office in Dubai – center of global business and prestigious destination for all international investors.
IBCs can open bank accounts almost in any bank of the UAE and have numerous accounts in different banks. They also can open an account abroad.
This type of International Business Companies is registered by RAKICC.
Today RAKIC (RAK International Company) is one of the best options to conduct your international business in a safe and economically viable way.
RAKICC is getting more popular with international businessmen.
Big advantage of RAKICC in comparison with other jurisdictions is the status of your company in incorporation documents. It will have a legal status of “International Company” instead of “Offshore”, which often has negative connotation for many government bodies and banks.
Your legal address will be in Dubai.
The price for RAKICC offshore company registration is 10,800 AED ($2,950).Setup RAK offshore company
This type of offshore companies is registered by JAFZA Authority in Jebel Ali. The main advantage of having a JAFZA offshore is that this type of company can can buy and hold property in Dubai.
The price for JAFZA offshore company registration is 18,000 AED ($4,950).