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Offshore Company Formation in Dubai
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Offshore Company Formation in Dubai
Introduction to Offshore Companies in Dubai, Offshore companies in Dubai are legal business entities registered within the UAE but operating outside the country. Dubai offers three primary jurisdictions for offshore company formation: Ras Al Khaimah (RAK), Jebel Ali Free Zone (JAFZA), and Ajman. These jurisdictions allow businesses to establish a presence in the region while conducting operations exclusively outside of their registered area.
What is an Offshore Company in Dubai?
Unlike onshore companies operating within a country’s borders, An offshore company operating outside its registered jurisdiction provides a tax-efficient and cost-effective way to conduct global business.
Offshore Jurisdictions in the UAE
The UAE offers three jurisdictions for offshore company formation:
- Ras Al Khaimah (RAK)
- Jebel Ali Free Zone (JAFZA)
- Ajman
All three jurisdictions provide:
- 100% foreign ownership.
- Exemption from income and corporate taxes.
- There is no requirement for share capital investment.
- JAFZA: The most expensive option but allows real estate ownership in Dubai.
- RAK and Ajman: More cost-effective, with no restrictions on permitted activities.
Key Benefits of Setting Up an Offshore Company in Dubai
The UAE offers numerous benefits when it comes to establishing an offshore company.
- 100% Foreign Ownership: Full control over business operations without needing a local sponsor.
- Privacy: The public register does not require the disclosure of the names of company directors or shareholders.
- No Minimum Share Capital: Flexible capital investment with no minimum share capital requirement.
- International Growth: Offshore companies can act as bases for exploiting international market opportunities.
- Access to Global Funding: Offshore companies can access global funding more easily.
- Asset Protection: Offshore companies provide a method to separate or safeguard assets from other operating entities.
Why choose Ras Al Khaimah International Corporate Centre (RAKICC)?
RAKICC offers a business-friendly environment with significantly lower operating costs than the UAE average, allowing businesses to maximize their return on investment. The main benefits include:
- Full Ownership: The policy allows foreign ownership without restrictions, granting complete control over business operations.
- Flexibility: There is no minimum share capital requirement or requirement to file financial accounts.
- Security: RAK operates under an independent Common Law legal system, allowing access to Abu Dhabi Global Markets (ADGM) and Dubai International Finance Centre (DIFC) courts.
- Cost Efficiency: Lower setup costs and no need to rent office space since all companies in RAKICC have a registered office.
Steps to Set Up an Offshore Company in Dubai
- Contact a Registered Agent: A registered agent will assist you in obtaining an office address and navigating the setup process.
- Prepare Required Documentation: Gather necessary documents, including passport copies, proof of residence, and business profiles.
- Submit Application: Submit the application form and the required documents to obtain your certificate of incorporation.
Offshore Company Formation: Quick Facts
Offshore companies in Dubai are ideal for international trading, consulting, and holding assets. They offer several advantages, including tax efficiency, asset protection, and the ability to operate globally without the complexities of local regulations.
Popular Offshore Jurisdictions
RAKICC, Ajman Offshore, and JAFZA Offshore are popular offshore jurisdictions in the UAE, offering unique benefits for international businesses.
Cost of Setting Up an Offshore Company in UAE
The cost of setting up an offshore company in the UAE starts at AED 7,500. Includes formation fees, registered agent fees, and assistance with opening a bank account.
Why Choose Silver Oak Auditing Firm for Offshore Company Formation?
Silver Oak Auditing and Accounting L.L.C. is a trusted offshore company registration agent in the UAE. It provides comprehensive support for offshore company setup, bank account opening, and ongoing business services.
Contact Us Today
For more information on offshore company formation in Dubai and to receive a customized quote, please get in touch with our expert team at Silver Oak Business.
Faq
Offshore companies operate outside the UAE and do not trade within the local UAE market. Free Zone companies can trade within the UAE and have physical offices.
Offshore companies do not qualify for UAE residency visas.
Offshore companies are required to have a registered office address, typically provided by their registered agent.
Offshore companies in the UAE cannot engage in banking, insurance, or financial services.