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Capital:
Abu Dhabi
Form of government:
Federal Monarchy
Area:
83 600 км2
Population:
4 million
Currency:
Dirham UAE(AED)

Offshore companies in the UAE

Advantages

There is an opportunity to open an offshore company in the United Arab Emirates. This type of company can be used as a company-owner of corporate rights of the company in a free economic zone or as a property owner in the territory of the UAE. The company can be used as a parent company of a holding structure. 100% foreign ownership is allowed for this type of company.

Requirements for an offshore company

  • Availability of a registration agent in the UAE;
  • Minimum authorized capital is 1000 dirhams;
  • Availability of the registration office.
  • Director of an offshore company in the UAE

Director of an offshore company in the UAE

The company’s director can be both a natural person and legal entity. The director will have to provide scan of copies of the passport, a letter from the bank, confirmation of the address of residence.

Founder of an offshore company in the UAE

A founder of the company in the UAE can be both a natural person and legal entity. There are no requirements for the residence of the founder of an offshore company in the UAE. It should be noted that the UAE legislation does not allow the use of nominal shareholders. In the UAE, there is no public register of shareholders of companies registered in the UAE, the law does not allow the disclosure of information about the shareholders of the company to third parties. In the UAE, there is no register of beneficiaries of companies. All information about the ultimate owners is kept by the registration agent.

Authorized capital

There are requirements for a minimum authorized capital of 1,000 dirhams for offshore companies in the UAE. When registering a company, there are no requirements for making payments on the authorized capital.

Taxation of offshore companies in the UAE

Taxation is not established by the legislation of the country for this type of companies.

Reporting of an offshore company in the UAE

There are no reporting requirements. But companies are required to maintain documentation of activities and store them at the registered office address.

Restrictions for offshore companies in the UAE:

  • prohibition of domestic activities;
  • prohibition on renting an office in the United Arab Emirates;
  • company can not obtain the status of a tax resident of the UAE;
  • company does not have quotas for obtaining resident visas;
  • there are restrictions on opening accounts in the banks of the UAE.