Offshore Company setup in UAE
In the UAE, offshore companies are supported, governed by the JAFZA Offshore Companies Regulations 2003. These entities differ from those registered in UAE free zones, operating outside their place of origin or registration. As a leading provider of offshore company setups in Dubai and the UAE, our consultancy is licensed and regulated by governing authorities. With decades of expertise, we tailor solutions to meet your business setup needs in Dubai, ensuring compliance and efficiency.
Offshore business setup locations in Dubai
RAK OFFSHORE
Ras Al Khaimah International Corporate Centre (RAK ICC) enables the setup of offshore companies, offering freedom from import/export duties and tax exemptions on income generated. This makes it an attractive option for businesses seeking to establish offshore entities in a tax-efficient environment.
JAFZA
In Jebel Ali Free Zone (JAFZA), setting up an offshore company requires a minimum of one shareholder, with no restrictions on hiring staff. Furthermore, you have the flexibility to operate the company from outside JAFZA without the necessity of hiring staff.
ADNOC OFFSHORE
ADNOC Offshore manages offshore oil and gas operations in Abu Dhabi, UAE, ensuring efficient exploration and production in offshore fields, vital for the country’s energy sector and economy.
FAQ
What is an offshore company in the UAE?
- An offshore company in the UAE is a legal entity established in a designated offshore jurisdiction within the country, such as Ras Al Khaimah (RAK) International Corporate Centre or Jebel Ali Free Zone Offshore. These companies are primarily used for holding assets, international trading, and investment purposes.
What are the benefits of setting up an offshore company in the UAE?
- Benefits include 100% foreign ownership, no requirement for a physical office space in the UAE, confidentiality and privacy of information, no currency restrictions, and tax advantages, as offshore companies are typically exempt from corporate and income taxes.
What types of business activities can be conducted by an offshore company in the UAE?
- Offshore companies in the UAE can engage in various activities, including holding investments, holding intellectual property rights, international trading, asset protection, estate planning, and acting as a holding company for other businesses.
What are the steps involved in setting up an offshore company in the UAE?
- The process typically involves selecting a registered agent, choosing a company name, preparing and submitting required documentation, such as the memorandum and articles of association, obtaining initial approvals, and obtaining the offshore company registration certificate.
Can an offshore company in the UAE conduct business within the UAE?
- No, offshore companies in the UAE are generally prohibited from conducting business activities within the country. They are primarily intended for offshore operations and international business transactions.
Are there any reporting requirements for offshore companies in the UAE?
- Offshore companies in the UAE are usually required to maintain financial records and submit annual returns to the relevant authority. However, these companies are not typically subject to the same level of reporting and disclosure requirements as onshore companies.
Can individuals from any country establish an offshore company in the UAE?
- Yes, individuals from any country can establish an offshore company in the UAE. There are typically no nationality or residency restrictions for shareholders and directors of offshore companies.
What are the confidentiality and privacy protections for offshore companies in the UAE?
- Offshore jurisdictions in the UAE offer strict confidentiality and privacy protections, ensuring that the details of company ownership and financial information are not publicly disclosed.