offshore company formation in uae

Offshore Company Formation in UAE

“Offshore” essentially refers to executing, managing, and operating in foreign countries with benefits in financial, legal, and tax aspects. We assist with offshore company setup in the UAE. Offshore company formation is the process by which a company operates or is managed outside the country in which it is registered, or outside the country where its owners and shareholders reside. We help with offshore company registration in the UAE.

Advantages of Offshore Company Formation in UAE

  1. Exemption from Corporate Taxes
  2. 100% Foreign Ownership
  3. Simple Registration Procedures and Cost Efficiency
  4. Low Operational Costs
  5. Flexible Share Capital Requirements
  6. Transferable Shares
  7. Limited Liability
  8. Various Other Benefits

Limitations on Offshore Company Activities in UAE

  1. Activities explicitly prohibited under the regulations include banking, insurance, and financial services. Authorities may add other activities to the list of prohibited activities.
  2. Offshore companies are generally not allowed to conduct business activities within the UAE.
  3. Owning an interest in real estate property in the UAE is restricted, except in designated areas as approved by the authorities.

Offshore Company Formation in UAE – Exceptions

  1. Offshore companies may own or lease properties in designated areas or other approved real estate by the Ras Al Khaimah Free Zone Authority.
  2. Offshore companies can open and operate accounts in UAE banks.
  3. Offshore companies wishing to conduct trade or business within UAE free zones or elsewhere in the UAE must obtain an appropriate license from the competent authorities. This enables offshore companies to form or participate in subsidiaries in UAE Free Zones or mainland UAE and engage in business per applicable licensing regulations.

Offshore Company Formation in UAE – Requirements

Offshore company formation in the UAE starts with one or more individuals, who can be either natural or juridical persons, submitting a signed application form to the registrar of offshore companies, along with the relevant supporting documents.

The application should include:

  • The objective of the offshore company.
  • The proposed capital of the offshore company.
  • Full names and addresses of shareholders.
  • Number of shares to be held and the value of shareholdings.
  • Names and addresses of directors (minimum of one director).
  • Names and addresses of registered agents.
  • Any other details required by the registrar.

The application must also include the proposed memorandum and articles of association of the offshore company. In addition to these documents, the following must be submitted:

  • For Individual Applicants: Identification documents and proof of address.
  • For Corporate Applicants: Incorporation documents and board resolution authorizing the formation.

We are a registered agent and a market leader in offshore business consultancy, offering solutions for clients looking to minimize taxes, protect assets, and limit liabilities.

How Can Help You with DMCC Company Formation

  1. Review all the fundamental requirements of your business activities to suggest the best free zone for your company in the UAE.
  2. Assist in strategizing your business plan.
  3. Help with preparing the application form to be submitted to the free zone authority.
  4. Obtain trade name approval, initial approval, and security clearance.
  5. Authenticate legal documents from the concerned departments for corporate clients.
  6. Draft the Memorandum of Association (MOA) for the company.
  7. Provide guidance in selecting appropriate office space.
  8. Support and guidance for E-channel registration and obtaining the establishment card.
  9. Assist in opening corporate and individual bank accounts.
  10. Provide visa assistance for employees and investors.
  11. Assist in the recruitment of suitable employees for your new company.
  12. Offer guidance in appointing an auditor, a compliance requirement for free zone companies.
  13. Provide VAT Compliance and Advisory assistance for VAT Registration, VAT Implementation, and VAT Return Filing.
  14. Offer accounting and bookkeeping services.
  15. Support for company liquidation.