UAE Offshore Company. Offshore Company Formation in the UAE

Dubai Offshore Company

Benefits of setting up a Dubai Offshore Company

Dubai Offshore Company – Key Facts

Language of Legislation and Corporate Documents

English/Arabic.

Share Capital

The minimum requirement for share capital is AED 1.

Classes of Share Available

A Dubai offshore company may issue only registered shares and only one class of shares is permitted.

Bearer Shares

Not permitted.

Restrictions on Trading

A Dubai Offshore Company is not allowed to do business within the UAE, have an office or get visas. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Office Required

Each Dubai Offshore Company must have a Registered Agent and Registered Office in JAFZA, Dubai, provided by a licenced service provider.

Directors

The minimum number of directors is two. Director can be of any nationality and need not be resident in the UAE. Corporate directors are not permitted.

Shareholders

The minimum number of shareholders is one.

Publicly Accessible Records

No.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

Shareholders/Directors need to visit the Registry for attestation of their signatures. If the Shareholders/Directors are unable to come to Dubai, they may issue a Power of Attorney in favour of our company to represent them before the Registry.

Taxation

Nil.

Double Taxation Treaty Access

None.

Requirements to File Accounts

Yes.

Requirement to File Annual Return

Varies.

Audit Requirements

Yes.

Currency

Dirham (AED).

Exchange Control

None.

Language of Name

English.

Restricted Words

Unless with the approval of the Registrar in writing the name shall not include the words “Bank”, “Trust Company” or “Trustee Company”, “Assurance” or “Insurance”, “Chamber of Commerce”, “Municipal” or “Municipality”, “Dubai”, “UAE”, “Emirate” or “Emirates” or any other word which in the opinion of the Registrar may suggest:-

(a) a connection with the Government of the Federation of the United Arab Emirates, its agencies or identical bodies of any of the member States of the Federation;
(b) the patronage of their Highnesses the members of the Federal National Council.

Name of a Company

The name of Dubai offshore company may end with the word “Limited”.

Time to Incorporate

10-12 days, subject to name approval.

RAK ICC (RAK Offshore Company)

Benefits of setting up a RAK ICC (RAK Offshore Company)

RAK Offshore Company – Key Facts

Language of Legislation and Corporate Documents

English/Arabic.

Investor Visa

No.

Employment Visa

No.

Share Capital

The minimum requirement for share capital is AED1,000, Which must be fully paid up.

Classes of Share Available

Ordinary shares, preferred shares, deferred and shares with or without voting rights.

Bearer Shares

Not permitted.

Restrictions on Trading

This type of Company is not allowed to do business within the UAE, have an office or get visas. Banking, insurance, assurance, reinsurance, fund management, collective investment schemes, trust management, trusteeship business provision are not permitted.

Registered Agent Required

Each RAK Offshore Company must have a Licenced Registered Agent in the RAK Offshore.

Registered Office Required

Each RAK Offshore Company must have a Registered Office in the RAK Offshore, provided by a licenced service provider.

Directors

A minimum of one director is required for a RAK Offshore Company formation. Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.

Shareholders

A minimum of one shareholder is required for a RAK Offshore Company formation.

Publicly Accessible Records

No.

Location of Meetings of Directors and Shareholders

Anywhere.

Personal Presence Required

No.

Taxation

Nil.

Double Taxation Treaty Access

None.

Requirements to File Accounts

None.

Requirement to File Annual Return

None.

Audit Requirements

None.

Currency

Dirham (AED).

Exchange Control

None.

Language of Name

English/Arabic.

Restricted Words

Unless with the approval of the Registrar in writing the name shall not include the words “Bank”, “Trust Company” or “Trustee Company”, “Assurance” or “Insurance”, “Chamber of Commerce”, “Municipal” or “Municipality”, “Emirate” or “Emirates” or any other word which in the opinion of the Registrar may suggest:-

(a) a connection with the Government of the Federation of the United Arab Emirates, its agencies or identical bodies of any of the member States of the Federation;
(b) the patronage of their Highnesses the members of the Federal National Council.

Name of a Company

The name of the RAK Offshore Company may end with the word “Limited” or “Ltd”.

Time to Incorporate

2-3 business days, subject to name approval.