Set up of offshore (UAE offshore- RAK, Ajman, JAFZA - Foreign offshore companies- BVI, Nevis, Seychelles, Cayman, Bermuda, Panama…), free zone (DMCC, UAQ, DIFC, Dubai South, Ajman…), mainland and DED (Dubai Department of Economic Development) companies: We assist you in identifying and incorporating the most suitable entity to reach your target. The entity may also require a proper structuring of its shareholding to avoid sharia law issues, to raise capital, to provide a layer of confidentiality and succession planning, to limit the reach of creditors… We also provide individual and corporate sponsorship for your Dubai mainland and DED LLC (limited Liability Company) Company as 51% of the shares of the latter are required to be held directly or indirectly by a UAE national.
Offshore Companies in UAE
An Offshore Company is to operate outside its registered jurisdiction unlike the Free zone company which could also operate within its registered jurisdiction (within its Free Zone but not mainland).
Main Characteristics of Establishing an Offshore Company:
- To expand international market share.
- Business oriented legal system.
- The most flexible regulatory regime.
- Impacted by anti-avoidance tax rules in countries where the offshore intends to operate.
- Tax neutral on international (subject to jurisdictions) personal or company income, capital gains and inheritance taxes.
- Best access to international funding.
- Segregate and secure assets, (e.g. Intellectual Property Trade Name), from operating entities.The jurisdictions proposing Offshore Companies in the UAE are Ras Al Khaimah (RAK) Ajman Free Zone, RAKIA, RAKFTZ, and the Jebel Ali Free Zone (JAFZA): Offshore Companies are allowed to open bank accounts in the UAE and abroad and operate internationally but not with persons resident in the UAE.
- No maintenance of books and records. (Except for some local offshore companies). Audited accounts are only required for JAFZA Offshore Company. A RAK Offshore Company requires accounting books to be kept for 7 years and 10 years for Jafza Offshore Company.
- JAFZA Offshore Company is the only UAE Offshore Company legally permitted to own property situated in Dubai.
- UAE Offshore Companies are not UAE Free Zone Companies.
- Do not provide any residency to its shareholders, directors, employees.
- No benefit of UAE double tax conventions network
- Registered agent should be appointed.
- Offshore Companies can hold shares in Free Zone and Onshore LLC Companies.
- Directors and shareholders are not disclosed on public register.
- Not allowed to lease an office space.
Offshore Companies Abroad:
Platinum offers you the opportunity to establish offshore companies outside the UAE (Nevis, BVI, Hong Kong, Singapore ...) with the possibility of having Corporate Directors and Nominee Shareholders acting on your behalf to safeguard your privacy.