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Open Offshore Companies in UAE

Updated on Wednesday 03rd August 2016

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Open-offshore-companies-in-UAEThe UAE is currently one of the most sought business destinations in the Middle East. Foreign investors have the possibility of setting up companies in any of the 7 emirates and their free zones, which is why the UAE economy has developed quite a lot during the last several years. Foreign enterprisers can register both onshore and offshore companies in the UAE, as well as free zone companies, such as RAK offshore companies.

Our company formation agents in Dubai can offer complete information about setting up any type of company in the UAE.

How to register an offshore company in the UAE?

Offshore companies in UAE are among the preferred types of companies foreign investors because they provide many advantages. However, before starting to reap the benefits provided by an UAE offshore company, one must complete several steps related to the company incorporation. The registration procedure begins once the owner has appointed a local representative or a company incorporation firm to handle the process. The local agents will file for a trade name which will end with the abbreviation ‘LTD’ with the Trade Register in the desired emirate and then draft the statutory documents of  UAE offshore companies. The shareholders must provide proof of the residential address in this country (such as a recent utility bill) for swift offshore company registration in the UAE. Then the local agents must also set up a corporate bank account for the offshore company. Once these steps are completed, the company will receive its Certificate of Registration from the Department of Economic Development (DED).

Why open offshore companies in UAE?

As mentioned above, offshore companies come with a lot of benefits, especially when incorporated in a country like the United Arab Emirates. Among the advantages offshore companies in UAE offer to their owners are:

  • -          no corporate taxes;
  • -          no local partner is required;
  • -          minimum registration requirements, such as one shareholder and one director;
  • -          beneficial ownership privacy;
  • -          the share capital can be denominated in any currency.

Nominee shareholders are permitted in the case of UAE offshore companies.

Please feel free to contact our consultants in Dubai for full offshore company registration services.

 

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