An offshore company is a legal entity established in an offshore financial center or a tax haven, protected by specific legislation that generally guarantees full tax exemption and a high level of privacy and security.
Offshore company formation can be used to maintain and create wealth, conduct international trading, contracting or consulting services, hold property, and perform asset protection activities. Offshore companies also offer advantages beyond taxation, such as facilitating direct investment into certain jurisdictions, managing withholding taxes for foreign income, and holding intellectual property, to name but a few.
UAE Offshore Companies
UAE offshore companies are popular entities in the Middle East, particularly because of its ability to set up bank accounts in the United Arab Emirates; however, although a UAE offshore company can have a bank account in the UAE to conduct routine operational transactions, it is not allowed to conduct any business activity.
UAE has two offshore jurisdictions: Dubai and Ras Al Khaimah (RAK). Both offer similar services but serve different strategic goals for offshore company registration. UAE offshore companies offer the following benefits:
UAE offshore company incorporation requires the services of a Registered Agent. Trinity Group is appointed as approved registered agent and assists with the registration of the following:
Jebel Ali Offshore Company
The Jebel Ali Offshore Company, sometimes referred to as the Dubai Offshore Company or JAFZA Offshore, is regulated by the Jebel Ali Free Zone Authority under its Offshore Companies Regulations of 2003, which allows the formation of an offshore company, with a separate corporate legal identity, by individuals or corporate bodies (including non-resident company). The Jebel Ali Offshore Company is an international business company and is the only offshore vehicle permitted to own and hold real estate in the Emirate of Dubai.
RAK Offshore Company and RAK International Company (RAKIC)
The RAK International Corporate Centre (RAK ICC) is Ras Al Khaimah’s new single corporate registry established on the 1st of January 2016 by the merger of the two existing International Business Centres RAK Offshore & RAKIC.
RAK ICC provides a flexible and credible option for foreign investors to register an offshore company in UAE without the need to establish a physical presence in the UAE.
For advice and further information on establishing an offshore company in Dubai or RAK, please contact us through our ONLINE ENQUIRY FORM.
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