There are many reasons why the UAE is such a popular destination for those looking to establish offshore companies. These include:
- No sponsorship by a UAE citizen is required
- This means the company can be fully owned by foreign nationals
- Offshore companies are exempt from all taxation
- All business proceeds can be transferred out of the UAE quickly and easily
- Establishing an offshore company entitles access to a UAE bank account
- Offshore companies can be set up quickly and easily
- Offshore companies have the assurance of full privacy and anonymity
Setting up an offshore company may be the right choice for you if:
- You want to establish a virtual presence in the region
- It would be advantageous to have a separate company for ownership or tax purposes
- You wish to buy shares through an offshore company
- It is desirable to have a UAE bank account to invoice international clients and receive payments
Options for setting up an offshore company in the UAE
The UAE has multiple options and business zones and deciding which one to choose without the right advice can be an overwhelming task. Here are a few options:
Jebel Ali Free Zone Authority (JAFZA)
Dubai’s Jebel Ali Free Zone Authority is one of the largest and fastest growing free zones in the world, and it is attractive to many international businesses for a number of reasons including:
- A registered address
- Ability to buy freehold property in Dubai
- Secretarial services
- Registration cost of $USD5,036 (AED18,500)
Ajman Free Zone (AFZ)
Established in 1988, Ajman Free Zone has been behind a wave of industrial development in Ajman. Thirty years later, Ajman is a thriving business hub the 1 million-square metre zone is renowned for competitive pricing and a good return on investment. For a registration fee of just $USD3540 (AED13,000), you will get an agent, registered address and secretarial services through AFZ.
