Offshore Company Formation in UAE

What is an Offshore Company?

An offshore company is a company that is registered in a jurisdiction which is meant to provide financial and legal benefits including zero taxation and high confidentiality. The UAE offshore companies are ideal to international trade, asset protection and wealth management without having a physical presence in the country.

Advantages of Offshore Company Formation in UAE

• Full Foreign Ownership: You keep full control without having to find a local partner.
• Zero Taxation: Take advantage of exemptions on corporate tax, income tax and import/export duties.
• High Confidentiality: Offshore jurisdiction protects the privacy of shareholders and directors.
• Asset Protection: Shield your investments and assets against litigation.
• Economical Establishment: Low cost of licensing and operations in comparison with mainland firms.
• Global Market Access: Do international business and open multi-currency bank accounts.
• Flexible Operations: No need of office space or local employees in UAE.
• Simplified Compliance: Reduced reporting and audit requirements.

The UAE Popular Offshore Jurisdictions

There are three major offshore jurisdictions in the UAE and each has its own benefits:

Jebel Ali Free Zone (JAFZA) Offshore

• Known as the place of secrecy and security of assets.
• It is suitable to hold companies and international trade.

Ras Al Khaimah International Corporate Centre (RAK ICC)

• Easy and quick establishment of companies.
• Preferred as trading, consulting and holding structures.

Ajman Offshore

• Low cost of installation and maintenance.
• Ideal to SMEs and independent consultants.

Uses of Offshore Companies Common Uses

• International Trading: The process of enabling business across borders.
• Asset Protection: Protect personal and corporate assets.
• Wealth Management: Effectively manage investments and personal wealth.
• Structures: Own shares in other companies or intellectual properties.

Procedures to Incorporate an Offshore Company in the UAE

• Select the best offshore jurisdiction.
• Specify what you do in business.
• Book a special trading name.
• Get ready with the documentation (shareholders, directors information).
• Prepare a draft of Memorandum and Articles of Association (MOA).
• Apply to the offshore authority.
• Get the certificate of incorporation
• Open a business bank account.
• Records to be provided to form an Offshore Company
• Copies of passports of shareholders and directors
• Residence (utility bill or other)
• Description of business propositions
• Reservation certificate of trade name
• Memorandum and Articles of Association (MOA)
• Bank reference letter (depending on jurisdiction)

UAE Offshore Company Formation Cost

• Incorporation Fees: AED 10,000 and upwards
• Maintenance: AED 5,000 to AED 8,000 per year
• Bank Account Setup: The charges can differ based on the bank

Why Go Kite Business Setup Services to form Offshore?

• Efficiency: Significant experience and knowledge of the UAE offshore laws and procedures.
• Custom Solutions: Personalized services to suit your targeted business objectives.
• Transparency Pricing: No hidden charges, transparent pricing.
• End-to-End Services: Documentation to banking service.

Fast Processing: Convenient processing of a company incorporation.