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OFFSHORE COMPANY FORMATION IN UAE

If you aspire to set up an offshore company in the UAE, you have come to the right place. The UAE is undoubtedly one of the leading destinations in the world to establish a booming business. The best country in the Middle East, UAE serves as an important hub for business and trade and an ideal destination for setting up an offshore company in its RAK ICC (Ras Al Khaimah International Corporate Center).

An important jurisdiction for the incorporation and registration of international businesses, RAK ICC is considered the fastest-growing government-owned corporate registries that offer cost-effective solutions for companies wanting to get established offshore in the UAE.

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Elevate your business globally by establishing an offshore company in the UAE, especially in the Ras Al Khaimah International Corporate Center (RAK ICC). This move offers you benefits like complete foreign ownership, low tax rates, and access to a dynamic business ecosystem. Ideal for trading, investments, and e-commerce, the UAE serves as a strategic hub for international business expansion.

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Here’s How You Can Effortlessly Set Up
An Offshore Company In UAE

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    Find A Trustworthy Registered Agent

    If you wish to set up a RAK ICC-approved offshore business in UAE, seeking the services of a trustworthy registered agent is mandatory. A registered agent assists you throughout the registration process and acts as a liaison between the offshore registering company and yours.

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    Determine Your Company Type

    Determining the type and structure of your company is another crucial step. In UAE, an offshore company can be registered as a Foundation, Limited Company, Holding Company (IHC), and International Business Company (IBC). Upon selecting your company type, it becomes easier to set up goals and objectives.

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    Give Your Company A Unique Name

    While selecting a unique name for your offshore company, it is essential to abide by the guidelines of RAK ICC. Upon choosing a unique name, it can be passed to the registered agent for approval and proceed with the registration process.

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    Gather Vital Documents

    Documents play a pivotal role in registering an offshore company in UAE. The list of documents that must be submitted without fail includes the following:

    • • A copy of your certified passport.
    • • A copy and original bank statements of the past six months.
    • • Name of directors and shareholders.
    • • Proof of address (registered office address in RAK ICC).
    • • Three company name options for reservation.
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    Registering Your Company

    By submitting all the documents approved by the registered agent to RAK ICC, you step closer to the end of the registration process. Once the documents have been approved, your company will be officially registered as an offshore company in UAE.

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    Open An Offshore Bank Account

    Once your company is successfully registered under RAK ICC guidelines, you can proceed with opening a bank account with any corporate bank in UAE and use it for your business’s operations.

  • Benefits of Registering an Offshore Company

    There are many perks of setting up an offshore company in the UAE. From tax advantages to operating multi-currency bank accounts, there are many others to count on:

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    A Tax Heaven

    UAE is recognized globally as a tax haven; therefore, when you set up an offshore company, you enjoy multiple tax advantages. The zero-tax policy exempts 100% income tax.

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    100% Foreign Ownership

    The best part about owning an offshore company in UAE is 100% foreign ownership. Offshore companies registered under RAK ICC can largely benefit from foreign ownership and can also allow full control to the shareholders.

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    Confidentiality

    While forming an offshore company, confidentiality is always maintained by not disclosing the personal information of the company owners. This secrecy helps welcome numerous foreign investors who wish to retain anonymity in business dealings.

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    More Flexibility in Business

    Offshore companies in UAE enjoy great flexibility when it comes to welcoming foreign investors. Companies can have residents, non-residents, corporates, and inhabitants as investors or executives.

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    Access To Global Funding

    Establishing an offshore company in UAE is a gateway to international trade. From getting global exposure to carrying out business and transactions using multiple currencies, new opportunities for collaboration and international deals keep pouring in.

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    No Minimum Capital Requirements

    Another significant advantage of an offshore business in UAE is its no set bar for capital requirements. The flexibility given to business owners is commendable.

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    An Ease Of Setup

    Setting up an offshore business in UAE requires minimal paperwork and capital. Registration through RAK ICC is quicker and a straightforward process.

STREAMLINED PROCESS WITH MINIMAL CAPITAL AND SIMPLE DOCUMENTATION

Setting up an offshore company in UAE involves a series of easy-to-follow steps. The documentation required is very easy to gather, and the capital requirements are minimal.

  • Step 01
    Choosing A Unique Company Name

    The name selection plays an integral role in the process of setting up an offshore company. Your company must have a unique and catchy name abiding by the rules and regulations of UAE government registration bodies like RAK ICC

  • Step 02
    Filling Up An Application Form

    The application requires personal details and all the proof of documents that are mandatory to establish an offshore company.

  • Step 03
    Drafting MOA and AOA

    Drafting an Article of Association (AOA) and Memorandum of Association (MOA) is equally important to get familiar with the strict rules and regulations to maintain.

  • Step 04
    Opening An Onshore Bank Account

    The final step after successfully registering your offshore company is opening an onshore bank account that shall be used for your company’s business operations.

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LET US HANDLE IT ALL FOR YOU

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FAQs

1. What is an offshore company in the UAE?
An offshore company is a legal entity registered in a jurisdiction that is different from where the business operations are conducted. In the UAE, offshore companies are often established in free zones with specific regulations.
Some popular free zones for offshore company registration in the UAE include Jebel Ali Free Zone (JAFZA), Ras Al Khaimah International Corporate Centre (RAK ICC), and others.
Benefits may include tax advantages, confidentiality, ease of incorporation, and the ability to hold assets and conduct international business.
Generally, offshore companies in the UAE are not required to have a physical office.
Offshore companies in the UAE often do not have stringent minimum capital requirements.
Offshore companies are usually restricted from conducting business within the UAE. They are primarily set up for international activities, such as holding assets, investment, and international trade.
Yes, offshore companies are generally allowed to open bank accounts in the UAE. The process may vary depending on the chosen zone and the bank's requirements.
Offshore companies are typically subject to minimal reporting and compliance requirements. However, they must adhere to the regulations of the free zone in which they are registered.
Offshore companies can often own property in designated areas around in the UAE.
No, offshore companies in the UAE do not require a local sponsor. The ownership can be 100% foreign.
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