UAE Offshore Company

UAE offshore company is a legal entity established in UAE offshore financial center, being protected by specific legislation which guarantees a status of full tax exemption, except for a small yearly license fee, and generally a high level of privacy. It is an entity specifically designed to be used by non-residents only.

UAE offshore company can be an extremely resilient corporate entity commonly used in intercontinental tax planning, and can be amalgamated into abroad variety of business agreements. Tax augmentation, benefit (asset)protection and confidentiality are just some of the reimbursements which can be obtained by a proper application of an offshore company.

The International Business Companies (IBC) Registry allows foreign investors to register offshore companies as RAK Offshore without the need to establish a physical presence in the UAE. Companies are usually incorporated within 24 hours. Any non-resident individual or corporate entity can register a company.

Many jurisdictions are considered only as tax havens. The United Arab Emirates is a real country with a real economy with a population of approximately more than 4 million. It has an established history of international trade, finance and business, and today it is one of the fastest growing countries in the world with one of the highest standards of living.The choice of a suitable jurisdiction is an important decision and requires careful considerations.

Important aspects to be examined and which RAKICC (Ras Al Khaimah International Corporate Centre) offers may be outlined as follows:

  • Political and Economic stability of the jurisdiction
  • The availability of a modern and flexible legislative framework
  • Simple incorporation and filing requirements
  • State of the art banking system
  • State of the art telecommunication facilities
  • 100% ownership of company and bank account

Benefits of UAE Offshore Company Formation

By setting up UAE offshore company, businesses can expand their commercial activity outside UAE. The Emirate of Ras Al Khaimah (RAK) has launched associate degree offshore facility. The International Business corporations (IBC) written account permits foreign investors to register offshore corporations as RAKICC, a division of RAK International Corporate Centre (RAKICC) while not the necessity to ascertain a physical presence within the UAE.

Why incorporate a UAE Offshore Company?

United Arab Emirate’s geographical proximity and cultural similarities make it a prime location for businesses from countries within the Gulf and also the nearest. These countries have already got sturdy business links with the United Arab Emirates. RAKICC is additionally seemingly to profit from the very fact that some countries within the region suffer from political unrestand/or quality protection problems.

  1. No Taxation
  2. Anonymity
  3. Asset Protection
  4. Ease of Reporting
  5. Low Operating Costs and Fees

Main Activities of a UAE Offshore Company

  • General Trading
  • Holding Company
  • Shipping and ship management companies
  • Investments and Joint Investments Company
  • Consulting and Advisory Services
  • Property Owning
  • International & Professional Services
  • Commission Agents Company

Fiscal and Regulatory Benefits of UAE Offshore Company

  • 100% income & corporate tax exemption
  • 100% capital and profit repatriation
  • 100% ownership in Free-zones
  • No Import / Export taxes
  • No Capital Gains Tax
  • No Value-added Tax
  • No Withholding Tax
  • Proximity to global markets

The United Arab Emirates is a ‘real’ country with a ‘real economy’ with a population of roughly four million. it’s a longtime history of international trade ,finance and business.Today it’s one of the fastest growing countries within the world with one among the very best standards of living.

Main Features of UAE Offshore Company

  • It doesn’t got to have physical offices within the UAE
  • It may not keep it up business inside the UAE
  • It may not acquire UAE Residency Visa
  • It may have non UAE resident as director or shareholder
  • It may have UAE resident as director or shareholder
  • It may have company shareholder/corporate director
  • It doesn’t need the shareholder/director to be physically present within the UAE for incorporation
  • It may not do banking and insurance business while not special license
  • It may maintain bank accounts and deposits within the UAE or worldwide
  • It may hold shares in different UAE and worldwide corporations

Comparison study between jurisdictions offering Offshore services in UAE

Dubai

  • The client’s presence is “MUST” for company formation
  • No Audit Report to be submitted for LICENSE RENEWAL
  • The cost of setting up an offshore company is higher when compared to the other two jurisdictions
  • Takes approximately a week’s time
  • Can only buy properties in Dubai
  • For opening bank account it is mandatory for the client to visit UAE once

RAKICC

  • The client’s presence “NOT REQUIRED” and Agent does the company formation on client’s behalf. However, all necessary documents have to be Notarized by a Notary Public in the home country
  • No Audit Report to be submitted for LICENSE RENEWAL
  • The cost of setting up an offshore company is less when compared to Dubai
  • It takes about 24-48 hours to 8-10 days to form the company provided all forms are signed, supporting documents are correct and the full payment done
  • Can only buy properties in Ras Al Khaimah
  • For opening bank account it is mandatory for the client to visit UAE once

Ajman

  • The client’s presence is “NOT REQUIRED” for company formation. However, it is must to provide original documents necessary for company formation
  • No Audit Report to be submitted for LICENSE RENEWAL
  • The cost of setting up an offshore company is less when compared to Dubai
  • Takes about 2 to 3 working days’ time to form the company
  • Can only buy properties in Ajman
  • For opening bank account it is mandatory for the client to visit UAE once