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An Offshore Entity is often used to make Investments and accumulate wealth, invest in stocks, shares, property or commodities. An offshore entity does not have to pay tax on its profits, nor does it have to pay inheritance tax when it is passed on to heirs. There is no minimum capital required and also no need to set up an actual office space.
Types of Offshore Entities:
- Company / International Business Corporation (IBC): IBC is considered to be the most common and popular solution for profit ventures involving business activity such as securities trading, banking, international trade, ownership of assets offshore banking, to conduct international trade, investment activities, to offer professional services and for asset protection, ownership of real property and land, for ownership of intellectual property, licensing and franchising, personal service by individuals working overseas and offshore e-business. An IBC can hold assets in a safe, secure financial center and allow the owner to retain 100% control of assets.
- Foundations: Foundations are generally used for non-profit activities such as charities, receiving or giving donations, grants, etc., but can also be used for holding purposes such as holding ownership of corporations or any other type of asset.
- Trusts: Trusts are generally used for holding purposes such as owning corporations, or holding assets such as real estate.
Advantages of a UAE Offshore Company:
- 100% tax exemption
- 100% foreign ownership
- Protection against lawsuit judgments
- Can be used to invest in Companies, Factories and Establishments
- 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
- Absolute privacy, confidentiality and protection of assets and information
- Client does not require to travel to complete incorporation procedures
- No annual audit report needs to be submitted to the authorities (Jebel Ali Offshore Company requires to submit audit report)
- Limited Liability
- Minimum one director required (Jebel Ali Offshore Company requires 2 directors)
- 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
- Unlimited Market Opportunities
The offshore jurisdictions available in the UAE are:
- Jebel Ali Offshore
Jebel Ali Free Zone Offshore Companies Regulations was launched in early 2003 by the Jebel Ali Free Zone Authority and permitted formation of offshore companies within the Free Zone and Re-affirmed the Free Zone’s commitment to rapid growth of the region.
Jebel Ali Offshore Company can be effectively utilized as an investment holding entity; real estate holding company; for further investments in local or Free Zone companies; and for International Trading.
- Ras Al Khaimah Offshore
Ras Al-Khaimah Free Trade Zone Authority launched the Ras Al Khaimah Offshore concept under the regulation of Ras Al Khaimah Investment Authority (RAKIA) in 2007. From the very outset, it was conceived to unleash your entrepreneurial spirit by making it easier and more cost-effective to start and operate on offshore business.
Major advantage RAK Offshore offers its clients is ability to register their private yacht and pleasure boats in Ras Al Khaimah. By registering yachts and boats with RAK Offshore, there will be lots of financial advantages, low initial registration & annual maintenance fees and easy registration process.
Let our team of expert advisors assist you in selecting the best solution to suit your offshore company requirements.