The two main principal jurisdictions that offer Offshore Companies in the UAE are Ras Al Khaimah (RAK) and the Jebel Ali Free Zone (JAFZA). Both the free zones are “tax free” jurisdictions that impose no income tax or corporate tax and also allow 100% foreign ownership. The UAE has Double Tax Treaty agreements with over 40 countries.
Offshore Companies are allowed to start their own multi-currency accounts in the UAE and work out internationally. However, they may not be able to carry on business with persons resident in the UAE or have physical properties within the UAE.
RAK and JAFZA, both have their own specific benefits. RAK is the more cost effective when compared to the two, but JAFZA is the only Offshore Company that is legally allowed to own property situated in Dubai. UAE Offshore Companies should not be confused with UAE Free Zone Companies. Free Zone Companies are onshore organizations allowed to carry out business in Dubai with certain limitations.
Setup Your Company in Dubai Offshore with Connect Middle East. We are the experienced professional business advisors to ensure fast and efficient company formation all over in the UAE.