Offshore Company UAE

Offshore Company | 18 Characteristics To Help You Act

Offshore company: No attestation within GCC, own property. RAKFTZ, RAKIA & JAFZA offshore have unique advantages

Offshore company: There are 3 offshore jurisdictions in the United Arab Emirates (UAE).

UAE consists of 7 states or Emirates. Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Fujairah and Ras Al Khaimah (RAK).

Dubai offers offshore company registration in the Jebel Ali Free Zone Authority (JAFZA) domicile.

RAK has 2 offshore domiciles. The Ras Al Khaimah Free Trade Zone (RAKFTZ) and the Ras Al Khaimah Investment Authority (RAKIA).

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Offshore company: All 3 centers offer the general advantage

1. Offshore company incorporation documents can be used within UAE, Saudi Arabia, Qatar, Bahrain, Kuwait and Oman (Gulf Cooperation Council Countries) without attestation.

2. Some of these domiciles offer custom made Memorandum and Articles of Association (MOA) so that you can decide on which country you want for settlements of any disputes.

3. You may own property in the UAE through offshore companies. However, Dubai properties may only be owned by JAFZA registered offshore companies.

Offshore Company | 18 Characteristics To Help You Act

Varal Team Members

Offshore company: Get a free quote now by filling in the box on the right and discover its unique advantages

Offshore company: Characteristics

Ras Al Khaimah Free Trade Zone

1. This is the most economical UAE offshore company jurisdiction. However, there are delays in registration time. Also, people in RAKFTZ are not easily accessible for follow-up and other issues that may arise.

2. It allows both Ltd and Inc. suffixes in the names of the offshore company.

3. It is also one of the few jurisdictions in the world that allow Bearer shares.

4. Your personal presence or that of other shareholders and directors is not required.

5. RAKFTZ companies are accepted by Dubai banks for account opening.

Ras Al Khaimah Investment Authority

1. RAKIA is extremely responsive and turns around time is quick. Often name approval comes within a day and offshore company registration can be done the following day provided all documents are in order.

2. Its procedures for changes of shareholders, directors or the secretary are streamlined and the changes can be affected quickly.

3. Your personal presence or that of other shareholders and directors is not required.

4. RAKIA offshore is cheaper than JAFZA offshore but costs a little more than RAKFTZ offshore.

5. It’s Know Your Client (KYC) requirements are straightforward and the processing is simple.

Jebel Ali Free Zone Authority

1. JAFZA offshore companies are the only offshore companies that are accepted by the Dubai Land Department for the registration of properties in Dubai. Incidentally, you may also own property through any UAE free zone or local company.

2. It is one of the few offshore jurisdictions that also issue Dubai Certificates of Origin and allows invoices for shipments.

3. You and other shareholders and directors are required to be present at the time of signatures.

4. Dubai bank accounts for JAFZA offshore companies can be opened in a wider choice of banks than for either RAKIA offshore or RAKFTZ offshore.

5. Documentation required is more elaborate. Your CV will be necessary. Also, a security approval will be sought by JAFZA before clearance is given to register the offshore company.

The UAE offshore jurisdiction that will be most appropriate for you should be based on your objectives. Making a decision merely on the basis of your offshore company’s cost of incorporation may be short-sighted.

In such instances, it will be useful for you to discuss the pros and cons with an offshore company registration agent who respects your wishes.

Offshore Company | 18 Characteristics To Help You Act

Varal CEO

Offshore company: Get a free quote now by filling in the box on the right and discover its unique advantages

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Offshore Company UAE was last modified: June 8th, 2019 by Manu Raj

Manu Raj

Has a positive attitude towards the job, is friendly and a team player.

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