Offshore companies should not be mistaken with freezone companies. Offshore company is a company that is formed to be operated outside of it’s jurisdiction. There are two jurisdictions offering offshore company in UAE, Ras Al Khaimah (RAK) & Jebel Ali Free Zone (JAFZA).
Main Characteristics and Benefits of Setting up an UAE Offshore Company
Segregate and secure assets, (e.g. Intellectual Property Trade Name), from operating entities. The jurisdictions proposing Offshore Companies in the UAE are Ras Al Khaimah (RAK), Ajman Free Zone, and the Jebel Ali Free Zone (JAFZA): Offshore Companies are allowed to open bank accounts in the UAE and abroad and operate internationally but not with persons resident in the UAE.
No maintenance of books and records. (Except for some local offshore companies). Audited accounts are only required for JAFZA Offshore Company. A RAK Offshore Company requires accounting books to be kept for 7 years and 10 years for Jafza Offshore Company.
Impacted by anti-avoidance tax rules in countries where the offshore intends to operate.
Tax neutral on international (subject to jurisdictions) personal or company income, capital gains and inheritance taxes.
Do not provide any residency to its shareholders, directors, employees.
Directors and shareholders are not disclosed on public register.
Not allowed to lease an office space.
To expand international market share.
Cost effective set up
Business oriented legal system.
The most flexible regulatory regime.
Best access to international funding.
Rak IBC and Jafza could own real estate situated in Dubai.
Foreign Offshore Companies
Wincore Advisory Group offers you the opportunity to establish offshore companies outside the UAE (Nevis, BVI, Hong Kong, Singapore …) to conduct international transactions or trading and diversify the localisation of your holding with the possibility of having Corporate Directors and Nominee Shareholders acting on your behalf to safeguard your privacy.