Offshore companies are the ideal choice for businesses who do not require any physical office space.The UAE follows the traditional International Business Company (IBC) structure through its offshore registries: Ras Al Khaimah International Corporate Centre (RAKICC) and Jebel Ali Freezone (JAFZA).
The UAE is leading the innovation of Offshore jurisdictions and is now considered superior to traditional jurisdictions such as the BVI or Cayman Islands as it is located within a sizable nation with real trade. An offshore structure in the UAE serves as a valuable tool for asset protection, wealth management, tax planning and succession planning and remains straightforward to incorporate and maintain.
Offshore companies are typically used for:
· International Trading Firms (excluding the region in which they are based) who do not need a physical presence.
· Advisory and Consultancy companies – who provide advice anywhere around the world excluding the UAE.
· Holding Assets – holding shares in foreign real estate, holding intellectual property, tax efficient structures, trust and fiduciary arrangements.
UAE Offshore Benefits
100
% Foreign
Ownership
100
% Repatriation of Capital and Profits
0
% Corporate & Personal Tax
0
% Export &
Import tax
No Requirements for Minimum Share Capital
Absolute Privacy, Confidentiality and Protection of Assets and Information
No Restrictions on the Directors'/Shareholders' Residency or Citizenship
Frequently Asked Questions
What documents are required to setup a company in the UAE?
The documents required depend on the type of entity established. Loggerhead Corporate Services advises clients on the most appropriate entity according to their needs and then simplifies the entire process by providing a comprehensive list of the documents required.
Please contact us for more information or to arrange an initial private consultation.
What documents are required to setup a company in the UAE?
The documents required depend on the type of entity established. Loggerhead Corporate Services advises clients on the most appropriate entity according to their needs and then simplifies the entire process by providing a comprehensive list of the documents required.
Please contact us for more information or to arrange an initial private consultation.
How long does it take to setup an Offshore Company?
An offshore company can be incorporated between 3 and 5 working days once we have received all the completed documentation. Loggerhead Corporate Services assists clients to complete all necessary documentation, and through our strict procedures for company formation, and strong relationships with local authorities, we ensure our clients a smooth and timely business setup.
Please contact us for more information or to arrange an initial private consultation.
Is it necessary to visit the UAE to set up a company?
This will depend on the type of entity selected.
· Freezones – each Freezone has their own company formation requirements and, as such, there is no one-size-fits-all answer to this.
· Offshore – Offshore companies require each shareholder and director to have visited the UAE at least once (proven by an entry stamp in their passport).
· Onshore LLC companies require all shareholders and directors to visit the UAE to sign the company’s articles of association.
For clients who are unable to travel to the UAE, Loggerhead Corporate Services can prepare a Power of Attorney which allows us to incorporate the company on behalf of the client.
Please contact us for more information or to arrange an initial private consultation.
Are companies taxed in the UAE?
Although the UAE introduced 5% value added tax (VAT) on January 1, 2018, the UAE remains free from all other taxes, including income and corporate taxes.
Please contact us for more information or to arrange an initial private consultation.
Are companies taxed in the UAE?
Although the UAE introduced 5% value added tax (VAT) on January 1, 2018, the UAE remains free from all other taxes, including income and corporate taxes.
Please contact us for more information or to arrange an initial private consultation.
Can Loggerhead Corporate Services help open a corporate bank account?
Yes, Loggerhead Corporate Services can help clients open corporate and personal bank accounts in the UAE or offshore through our network of contacts across all major local and international banks. We are also well networked with top Swiss Private banks should additional wealth management be required.
Please contact us for more information or to arrange an initial private consultation.
How often will I have to renew my company?
All legal entities in the UAE are issued with trade licenses by their respective authority which allows companies to operate in the UAE. Company trade licenses must be renewed on an annual basis (applies for Onshore, Offshore and Free Zones) on their anniversary.
Please contact us for more information or to arrange an initial private consultation.
Does Loggerhead Corporate Services provide any additional services to support a UAE business?
Yes, Loggerhead Corporate Services provides a comprehensive list of services to support our clients UAE companies, including: accounting and bookkeeping, payroll services, attestation and legalization of corporate documents, treasury services and bank account opening services.
Please contact us for more information or to arrange an initial private consultation.
Related Services
UAE Onshore
An Onshore Company is a fully-fledged Company registered with the Department of Economic Development in one of the 7 Emirates.
It is the legal entity required for someone to operate within any of the 7 Emirates in the UAE.
For clients who wish to substantially expand their business to mainland UAE and require office space and residency visas, the Onshore business setup is the most suitable option.
UAE Freezone
Free trade zones are isolated areas with special tax, customs and import regimes. Free Zones are governed by their own distinct framework of regulations (except for UAE Criminal Law).
Free Zone companies can only trade within the boundaries of its Free Zone or internationally and not directly with the UAE market.
This means that FZ companies maintain 100% foreign ownership and permits them to issue residency visas and tax residence certificates for the UAE as office space and local staff are required.
Dubai International Financial Centre (DIFC)
The Dubai International Financial Centre (DIFC) is one of the largest and prestigious Financial Centre’s in the Middle East, Africa and South Asia (MEASA) region.
The DIFC offers a secure and efficient platform and regulatory environment for businesses and financial institutions to operate in the emerging markets of the region.
The DIFC is governed by its own independent regulation, common law framework, supportive infrastructure and tax-friendly regime governed by the Dubai Financial Services Authority (DFSA).
Cyprus Holding Company (CHC)
A Cyprus Holding Company does not produce goods or services but rather manages or owns the outstanding stock of other companies.
This allows their owners to control more than one company across a variety of business activities whilst benefitting from the favorable tax regime.
A Cyprus Holding Company can be classed as either a private limited or public limited company. The private limited liability (LLC) entity is the most commonly used structure from a foreigner perspective.
Swiss Public Limited Company (AG)
The public limited company (AG) is the most widely used legal form in Switzerland. The formation of a public limited company requires a minimum share capital of CHF 100,000, of which 20%, or at least CHF 50,000 must be paid-in by either cash or with a contribution in kind.
For companies whose share capital exceeds CHF 1 million, the authorities charge a stamp duty of 1%.
Swiss AG companies must pay taxes on capital and income. The corporate income tax rate in Switzerland varies significantly between the different Cantons, ranging from 12% to 23%.