If you plan making business in the international space, it is possible to register an offshore company in the UAE. In this case, commercial activities should be conducted exclusively outside the UAE. To operate within the country is possible only with LLC-companies, working through a local sales agent who is a resident and has a special trade license.
Offshore in the UAE can have different organizational and legal forms, depending on the emirate and on the executive body in which the company is registered. It should be noted that such form as International Business Company (IBC) is available among the various options.
Offshore UAE can have real estate on the territory of the UAE, may own shares or stakes in other companies registered as offshore or in the Emirates Free Economic Zone, and can open bank accounts in banks of Dubai and other emirates.
For example, let’s consider the advantages of opening an IBC offshore company in the investment zone RAK INVESTMENT ZONE (Ras Al Khaimah):
Such a company can be registered without the personal presence of the director and the founder.
The number of directors can be one or more, and they can have any citizenship and residence. Also a legal entity can be in the role of director. For IBC / RAK, a much higher level of confidentiality is guaranteed. The public register does not disclose information about the founder and director.
The number of founders can be one or more, and they can have any citizenship and place of residence. In addition, the founder can be also a director.
The name of the future company can be written in any language, in addition, it must be unique. The check of uniqueness can take several hours, after which the name is reserved for 10 days. Pay attention, that it is forbidden to use abbreviations of state bodies and names of states in the name. The full name of the company must end with Limited (Ltd.).
After notarizing the Charter of the company and other necessary documents by the notary public, the authorized capital is paid to the bank deposit and already 24 hours after that, the registration can be completed.
There is no restriction on the minimum authorized capital. The capital currency is any.
An offshore company must have an accredited agent-company.
To own an offshore company in the United Arab Emirates, you do not need to own an office property. According to the laws of the UAE, the registered office may be the place where correspondence addressed to the company will be sent to and received. So it is possible just to order a “virtual office” service.
To work in the territory, you must use a local sales agent.
It is possible to open a bank account both: in the UAE and abroad.
A very useful feature of offshore companies in the UAE is their accessibility and ease of registration.
Offshore UAE use banking services in the most prestigious banks of the Emirates, while companies that are registered in other jurisdictions have to spend a lot of time and effort to open bank accounts in the UAE. Offshore UAE is trusted not only by the banks of the Emirates, with the willingness of most companies around the world, since the UAE is not included in the global black lists of offshore companies, unlike offshore companies of other jurisdictions.
Annual meetings of the company’s board can be made anywhere in the world.
The procedure for liquidating the company is extremely simple – if the annual state duty is not paid, and if there is no activity, the company is liquidated automatically.