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Offshore Setup
The words offshore business and offshore company have no precise legal, tax or general business meaning. The word offshore often means nothing more than anywhere other than the place of physical location of the person using the word (i.e. overseas). We use the words offshore business and offshore company as terms of definition in connection with matters such as the structuring of international business & family wealth management or tax planning.

Incorporation of an offshore company (or non-resident company) can be used for various purposes. One of the most common is the use of an offshore company as a holding company to hold interests in other companies in various jurisdictions, to hold trademarks, copyrights and other intellectual property rights, as well as to serve as the holding company for licensing of franchises. The income from taxable jurisdiction flowing to the offshore company (holding company) is not taxable.
Offshore Companies Applications The principal uses of offshore companies are:
  • Trading
  • Investment
  • Holding
  • Financing
  • Patent, royalty and copyright holding
  • Real property ownership
  • Ship management and yacht owning
  • Personal and corporate tax planning
Offshore Establishments UAE

A.) Ras Al Khaimah Investment Authority (RAKIA OFF SHORE )
Ras Al Khaimah Offshore (RAKIA) has earned its reputation as a pre-eminent commercial centre with an innovative, dynamic and entrepreneurial business culture. Strategically located at the crossroads of trade and commerce between East and West, it is ideally positioned to service and access markets that span the Middle East, Africa, the Indian subcontinent and the CIS countries. Moreover, it occupies a time zone that allows it to connect markets like the Far East and the US. To leverage this advantage, it is developing a world class infrastructure, air and port facilities, making it the most well connected hub in the region.

B.) Jafza offshore
The Jebel Ali Free Zone Authority (JAFZA) introduced regulations in 2003 for the establishment of Jebel Ali Free Zone Offshore Companies. The international business community can now establish offshore entities at JAFZA in line with other international offshore jurisdictions. Regulations were framed in a manner so as to deliver the convenience and efficiency of global offshore locations and maintain a high repute with international financial authorities.

Advantages & Disadvantages of off Shore Setups.

Advantages:

  • No minimum capital requirement.
  • 100% foreign ownership permitted.
  • Opening corporate bank account in a bank at Dubai .
  • An offshore company has the capacity and privileges of a natural person.
  • All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. There is no requirement to deposit the capital in bank.
  • Easy procedures for transfer of shares.
  • World class banking and investment management services available

Disadvantages:

  • Company cannot rent local premises.
  • Company cannot carry on the activities like banking, insurance, consultancy, advertising etc..
  • There is no legal permission to carry out any business operations in UAE
  • Under offshore business setup visas will not be processed.
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