Procedure for Offshore Company Set up

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Offshore Company Setup

The offshore company set up refers to the formation of a company to seek exemption from taxes according to the laws of a specific country. An offshore company can be set in UAE without any minimum capital requirement in more than 40 free zones located nationwide. With business-friendly policies of the UAE government, foreign investors can expand their business in an ideal way by starting an offshore company in UAE’ free zones.

Procedure for Offshore Company Set up

You need to apply for the offshore trade license in order to set up an offshore company in UAE. Investors can opt for one of the three kinds of licenses offered in UAE.

The three types of licenses to set up an offshore company in UAE are:

  • Commercial License
  • Service license
  • Professional license

The procedure for offshore company set up is simple and straightforward, however, you need to have some important documents ready to set up your offshore company in UAE. The requirement for documents is different for individual investors and corporate entities.

Here are the documents needed to register an offshore company in UAE if you are an individual shareholder:

  • Attested passport copy of the Shareholder
  • Residence proof
  • Bank statement of last 4 months or Bank Reference Letter
  • Detailed information about the Shareholder
  • Preferred name for offshore company

Corporate entities need following documents to complete the offshore company registration in UAE:

  • Memorandum of Association
  • Board Resolution
  • Passport copy of Shareholder/Directors
  • Attested legal documents

The set up cost for an offshore company varies in different free zones located in UAE. While RAK offers low-cost offshore company set up, Dubai brings unique opportunities to the investors to grow their business with amazing economic freedom in a cosmopolitan city.

Offshore Company Set up Cost in UAE

Investors don’t require a minimum capital for offshore company set up in UAE’s free zones. Different free zones across UAE have different registration costs and the offshore company registration cost in free zones can approximately range between AED 5,000 and AED 45,000. Jebel Ali Free Zone in Dubai is the best option for investors looking to get a general trading license in UAE. It is the oldest free zone in UAE and offers growth opportunities to investors in all major sectors.

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