Offshore
- Complete foreign ownership is permitted
- Own real estate properties on approved areas by the Authority
- Hold multi-currency bank accounts
- No foreign currency restrictions
- 100% repatriation of the profits and capital
- Low setting-up costs
- Minimum capital is required to set-up offshore company
- Minimum of 1 Director / Shareholder
- UAE has double taxation avoidance agreement (DTAA) with several countries
Offshore Company formation in Dubai & UAE
UAE is one of the well- known jurisdictions in the world for incorporating offshore companies because one can avoid the cumbersome process of having the off shore incorporation company documents attested by various embassies and Ministries of Foreign Affairs.
Restrictions for a JAFZA Offshore Company in UAE
- An offshore Company, which is incorporated under these Regulations, shall not be permitted to:
- Directly carry out any commercial activity in the UAE
- Hold a lease of a property situated in the United Arab Emirates, other than a lease reffered to in Regulations 14.2 (e):
- Carry out banking business
- Carry out any insurance or re-insurance, insurance agent or insurance broker type business or
- Carry on any other business which may, by regulation made by the authority, be prohibited by the Authority
- An offshore company shall not be treated as carrying on business with persons resident in UAE by reason only that:
- It makes or maintains professional contact with legal consultants, accountants, management companies or other similar persons carrying on business with the UAE,
- It holds within the UAE meetings of its directors or members
- It hold a lease of property for use as a registered office in any designated freehold area in the United Arab Emirates approved by the Authority
- Own a property in one of the designated freehold areas in the United Arab Emirates
- Own a stake in another operating Company within United Arab Emirates
- Hold an account in a bank in the United Arab Emirates without prejudice to the restrictions under Regulation 14.1
- If an offshore company wishes to conduct trade or other business in the Zone or elsewhere in the UAE, it must obtain the appropriate license to conduct the trade or other business activity from the competent authorities.
Three primary Free Zone Authorities in UAE for offshore formations
- Jebel Ali Free Zone Authority (JAFZA)
- RAK International Corporate Center (RAKICC)
Offshore companies can be formed only through the “Registered Agents”, located either in the free zone or UAE and approved by the respective authorities.
TGS Koya Chartered Accountants is a registered agent for JAFZA Offshore companies and offer offshore company formation services and services as registered agent.
Our services as a registered agent for JAFZA Offshore Companies
- Assisting in acquiring registered office with P.O. Box
- Preparation of Memorandum of Association, Articles of Association and other legal documents
- Liaison with the authorities and completion of incorporation procedures
- Assisting in opening the bank accounts
- Follow up services in obtaining attested documents and certificates
