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UAE Offshore Companies
Some of the most recent development in UAE, have been the establishment of Offshore Companies. We can now incorporate offshore companies in Ras Al Khaimah and in Jebel Ali.
Salient Features
- 100% foreign ownership is allowed.
- Company can own real estate properties on Palm islands, or any properties owned by Nakheel Company LLC, EMAAR, or any other real estate properties approved by the JAFZ – Authority.
- Company can hold an account in a bank in the UAE for the purpose of conducting routine operational transactions.
- The Company will not be allowed to carry on business with people who are resident in the UAE or carry out any trade in the UAE, unless they have first obtained an appropriate license from the relevant competent authority.
Corporate Requirements
Name:
Names must end with limited. Certain business sectors such as banking, insurance, reinsurance, insurance agency or insurance brokerages, consultancy services etc. are closed for offshore companies.
Capital:
There are no minimum or maximum capital requirements. The standard authorized capital of an international business company is $50,000. This attracts a government fee of $350 annually. Higher share capital have to pay an annual government fee of $1100.
Shareholders:
A minimum of one shareholder is required. Corporate shareholders are permitted. Shareholders will decide capital structure of the Company. No minimum capital requirements have been stipulated. Bearer shares are not permitted.
Registered Office / Agent:
As a matter of local company law the company MUST maintain a registered office in the Free Zone and appoint an approved registered agent (we are approved for this purpose). A registered agent’s office in Dubai or in the free zone can also be used as the registered office. We would generally provide these services.
Directors / Officers:
A minimum of two directors are required (one in RAK) and corporate directors are not permitted. Details of Directors are not available for public inspection. One Secretary and Manager is also required Register of
Directors & Members:
A copy of the register of Directors & Members must be kept at the Registered Office commencing from the date of registration of the Company.
Timescale :
Registration of the company in free zone will take between 1 to 2 weeks.
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