Question 1

What is an offshore company in the UAE?

Accepted Answer

A UAE offshore company is a non-resident entity that cannot conduct business within the UAE. It is used for international trading, asset protection, holding investments, and intellectual property management. Offshore companies benefit from 0% tax and full confidentiality.

Question 2

What are the benefits of a UAE offshore company?

Accepted Answer

Benefits include: 100% foreign ownership, 0% corporate and personal tax, no physical office requirement, full profit repatriation, asset protection, confidentiality, ability to open UAE bank accounts, and use as a holding company for international operations.

Question 3

Can an offshore company open a bank account in the UAE?

Accepted Answer

Yes, UAE offshore companies can open corporate bank accounts with select UAE banks. AxisOne DC facilitates account opening with partner banks that are experienced with offshore company banking requirements.

Question 4

Where can I register an offshore company in the UAE?

Accepted Answer

The main offshore jurisdictions in the UAE are: RAK International Corporate Centre (RAK ICC), JAFZA Offshore (Jebel Ali), and Ajman Offshore. RAK ICC is the most popular due to its competitive pricing and efficient registration process.

Question 5

How much does offshore company formation cost in the UAE?

Accepted Answer

UAE offshore company formation costs start from AED 8,000 with AxisOne DC. This includes registration fees, registered agent fees, and certificate of incorporation. Annual renewal costs are typically AED 5,000-8,000.

Question 6

Can an offshore company get a visa in the UAE?

Accepted Answer

Offshore companies cannot directly sponsor visas. However, you can obtain a UAE visa through other means such as setting up a separate free zone or mainland entity, or through a freelance visa arrangement.

Question 7

What is the difference between offshore and free zone companies?

Accepted Answer

Free zone companies can operate within the UAE, get offices, and sponsor visas. Offshore companies cannot operate in the UAE or sponsor visas but offer lower costs, no office requirement, and are ideal for international holding and trading structures.

Question 8

How long does offshore company setup take?

Accepted Answer

Offshore company registration typically takes 3-5 business days. The process is straightforward: submit documents, receive initial approval, pay fees, and collect the certificate of incorporation. AxisOne DC handles the entire process.

Question 9

Do offshore companies need to file taxes in the UAE?

Accepted Answer

UAE offshore companies with no UAE-sourced income are generally not subject to UAE corporate tax. However, they should maintain proper records and may need to comply with Economic Substance Regulations if conducting relevant activities.

Question 10

Can I use a UAE offshore company to hold property?

Accepted Answer

Yes, UAE offshore companies can hold property in designated freehold areas in Dubai and other emirates. This is a popular asset protection strategy that also provides privacy and potential tax benefits.

Offshore Company Formation