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Benefits of UAE-Based Offshore Companies

Contributed by Oxford Tax Solutions
October 20, 2015

Offshore companies are established for a variety of reasons including a company's necessity to restructure, create an international business entity as well as protect the assets of the company.

The United Arab Emirates (UAE) is home to three authorities that register International or offshore companies. The three UAE authorities that register offshore companies are Ras Al Khaimah Investment Authority (RAKIA), Jebel Ali Free Zone (JAFZA) as well as Ras Al Khaimah Free Trade Zone (RAKFTZ).

Benefits of the UAE Offshore Company:

  • Complete Exemption from Tax;
  • Full Foreign Ownership;
  • Allowed Corporate Bank Accounts across the UAE;
  • Allowed to own real estate property across the UAE as well as trademarks, patents etc;
  • International Company Registry is kept confidential;
  • Become a Limited Liability Company, with the option of having Ltd. or Inc.;
  • A company is allowed to choose the legislation/jurisdiction that best suits its needs, for instance civil law or common law;
  • The UAE is included in the OECD white list, there the UAE is not stigmatized as being a tax haven jurisdiction;
  • Companies benefit from UAE Double Tax Treaties (47 tax treaties);
  • Infinite market opportunities;
  • The Memorandum of Association and Articles of Association can be adjusted to suit the company's individual requirements and needs (for example, common law);
  • Guaranteed full confidentiality, protection as well as privacy of both the company's information and assets;
  • Company is not required to submit an annual report to the UAE authorities;
  • The company is protected against lawsuits;
  • Only one director is needed, except from a Jabel Ali Offshore Company, where a minimum of two directors are required;
  • Certificate of Residence is issued when required by foreign authorities.

Offshore companies operate outside the UAE. Offshore companies are allowed several activities within the UAE. These include:

  • Meetings amongst Director and Holding Shareholders can be held within the UAE;
  • Contacts with UAE-based auditors, legal consultants as well as accountants;
  • Open Bank Account within the UAE;
  • Have the option of being shareholders of Limited Liability Companies or Free Zone Companies;
  • Own real estate property or lease property to be used as a registered office within Dubai under the condition it has been approved by the authority. This activity is only available to JAFZA Offshore Companies.

Offshore companies are commonly used as property, asset as well as holding companies for other companies that operate either within the UAE or outside the UAE. Expatriates may hold complete ownership of an offshore company.


Tags: Offshore | law | offshore | services | tax | Tax | Ras Al Khaimah | patents | audit | Dubai | United Arab Emirates | trade | business | Treaties | Investment | Tax Treaties | Invest | Investment | legislation | trademarks



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