Offshore company formation Dubai is a well-known business tool across the globe which provides flexibility and easy maintenance, and the UAE is one of the top world’s providers nowadays with numerous advantages. The vision of UAE offshore jurisdictions is to achieve the status of top rated offshore jurisdictions in the world by continuous development and improvement. While focusing on highest compliance standards, UAE offshore zones are offering strong competency and complete privacy to its beneficiaries as their registries are not public.
There are 3 Dubai offshore company jurisdictions known in the UAE located in the emirates of Dubai, Ajman and Ras Al Khaimah. Those are JAFZA (Jebel Ali Free Zone Authority) located in Dubai, AFZA (Ajman Free Zone Authority) located in Ajman and RAKICC (Ras Al Khaimah International Corporate Centre) located in Ras Al Khaimah. It serves rak offshore company formation. Separate attention is paid to jurisdiction of RAKICC which was newly formed in September 2016 as a result of merging the two former offshore authorities RAKIA (Ras Al Khaimah Investment Authority) and RAKIC (Ras Al Khaimah International Company). Since the official effective date, it has been noticed that the newly formed jurisdiction implemented strategically new standards and policies, and conducted major changes in its structure with a primary focus on world’s recognition and meeting highest compliance standards.
RAK Offshore company formation Dubai as Business Solution
Dubai Offshore company is a tax-free legal entity with no restrictions on its profit and capital repatriation. This makes an offshore company be an effective business solution with a significant presence in the region with local bank account facilities. Beneficiaries of such company may be both individuals and corporate bodies of any nationality and place of registration. Apart from classic offshore incorporations, UAE offshore authorities also offer re-domiciliation services for existing international business companies (IBC) registered in other countries. This allows foreign international companies to change the place of registry to the territory of UAE, in other words relocate existing business, and avail local benefits with an expansion to region’s business hub.
Nowadays investors are wondering if one can register a Rak offshore company on his own behalf directly with competent authorities. Rak offshore company formation is a wise man’s decision. This would make it a great advantage, however offshore companies in the UAE are incorporated trough officially registered agents only. This allows investors to comply both with RAKICC regulations and global standards to conduct “transparent” business worldwide. Garant Business Consultancy is an accredited registered agent in the registry of RAKICC, its professional team consists of competent trained specialists who can promptly assess clients profile and assist on their further business queries and they are the root to Rak offshore business. A Rak offshore company can benefit from the steadily growing Rak industries and easy access to logistic facilities.
Offshore authorities in the UAE offer a wide list of preapproved business activities with a flexibility of creating business activity “on demand” with easy further approvals that permits its investors carry on merely any business worldwide. Rak offshore supports most of them. Offshore company formation in Dubai is extra beneficial because of Dubai’s steady economic growth. Especially those who need to specify multiple particular business activities in chartered documents of a proposed company, find it appropriate to incorporate a company in the UAE as this simplifies further compliance procedures of such IBC for specific purpose. Commonly, as it would be expected, offshore companies registered in the UAE will not be eligible to provide Financial and Insurance services. There are also several authorized legal institutions/ business consultancies who can guide you with offshore company formation in Dubai.
As per the regulations, offshore companies in the UAE just like any other IBCs, are intended to carry on their activities only outside the territory of the registration. This would seem to be a major limitation, nevertheless it is a great advantage for investors to expose their business opportunities within the region by the means of Virtual Office facilities. This is an effective and smart tool available in the UAE that will certainly make a major difference. This service will provide a local address, telephone number, P.O. Box and corporate email in .ae zone for the exposure of additional business opportunities.
White-Listed offshore Formation
Being “white-listed” offshore jurisdiction, RAKICC companies are easily recognized by local and international financial institutions and are eligible for corporate bank accounts in various banks across the UAE and other countries. In the contrary to most of high-risk offshore jurisdictions, this fact has been lately taken into serious consideration by numerous foreign IBC beneficiaries for this particular reason. For the purpose of retaining existing trade names and existing valuable business agreements, nowadays it is a great opportunity for investors to opt for re-domiciliation of these IBCs to the UAE. When compared to the other emirates Dubai has an added advantage, offshore company formation in Dubai is quick without much delays and complications.
Nominal for offshore business
Another most discussed topic on nominal services takes its place in the UAE. Unlike other foreign offshore zones, UAE authorities do not regulate nominee services as a separate arrangement. Nominal directors or shareholders will certainly carry various risks as well as the company that intends to use such services. Appointed directors and shareholders in the UAE are fully legitimate members of the company with direct functions and powers, and are fully liable for the activities that company practices. Having said that, company that uses nominee accounts will not hold full control over appointed nominee individuals, as no additional regulations apart from M&A will apply on them.