An Offshore Company is often established to make investments and accumulate wealth. The major difference between an offshore company and onshore company is that the former does not have to pay tax on its profits nor does it have to pay inheritance tax when it is passed on to the heirs. The offshore company is usually restricted from entering into commercial activities such as gaming activities, insurance, re-insurance and banking without additional licenses.
Businesses that want to be registered in the United Arab Emirates but do not intend to conduct any substantial commercial activity in the country can opt to register with a free zone such as Ras Al Khaimah Free Trade Zone´s International Registry Service.
The following benefits are available to a UAE Offshore Company (RAK & Dubai International Business Companies):
- 100% tax exemption
- 100% foreign ownership (no local sponsor is required)
- Limited liability company(option to have Inc. or Ltd.)
- Protection against lawsuit judgments
- Extreme discretion and confidentiality of the RAKFTZ International Company Registry
- Ability to maintain corporate bank accounts (multiple current accounts) in U.A.E.
- Ability to own e.g. real estate property in U.A.E., patents, trademarks
- Ability to tailor the company, Memorandum of Association and Articles of Association to suit your needs (e.g. to common law)
- Absolute privacy, confidentiality and protection of assets and information
- No annual audit report needs to be submitted to the authorities
- Minimum one director required (Jebel Ali Offshore Company requires 2 directors)
- Option of choosing the law (common law, civil law or any jurisdiction of your choice)
- No tax haven stigma as UAE is on the white list of OECD
- Own an International Company and take advantage of more than 47 UAE double tax treaties
- A certificate of residence can be issued for foreign tax authorities
- Unlimited Market Opportunities