Offshore company formation is often overlooked due to their stigmatized position in the corporate realm. However, UAE’s strong commitment to enhance Anti-Money Laundering (AML) and Counter-terrorist Financing (CTF) legislations have led to breakthrough improvements regarding the UAE’s compliance of the Financial Action Task Force (FATF) Regulations. With trust being regarded as a mandatory ingredient to conduct business operations, setting up an offshore company in the UAE is now considered to be a necessary competitive edge for companies with international operations.
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Offshore - Shelf Company
An offshore company that was formed a few weeks, months or years is sometimes referred to as a ‘shelf company’ or ‘aged corporation’ or ‘ready-made company’; the term comes from the concept of shelving a company and leaving it to mature over time. Shelf companies are most used in establishing branches or an existing corporation worldwide.
Benefits of a Shelf Company:
- Fast availability.
- Reputable history.
- Proven longevity.
- Immediate authority.
If you are interested in buying a shelf company with well-known history, please get in touch and someone from our corporate team will contact you shortly.
RAK International Corporate Centre
RAK ICC is a modern, world class Company Registry located in the heart of Ras Al Khaimah, UAE and is operating in full compliance with international standards and best practices in the International Business Company formation industry. The salient features of a RAK ICC Offshore Company are 100% foreign ownership, lack of restriction on number of shareholders, lack of office requirement, lack of minimum capital requirement and low incorporation and operational costs. RAK ICC is not allowed to carry on business activities in the UAE and does not provide residence visas. However, with the option to migrate existing corporate entities from various jurisdictions into RAKICC, it proves to be a seamless company set process for anyone looking to establish an offshore company.
Jebel Ali Free Zone Authority
JAFZA was created in 2003. It is an industrial area surrounding the Jebel Ali Port, one of the world’s biggest shipping ports. The Jebel Ali Free Zone Authority (JAFZA), in conjunction with the Dubai Government, introduced the Offshore Company in 2003. The salient features of a JAFZA Offshore Company are 100% foreign ownership, 100% exemption from any taxes or duties in the UAE, ability to own real estate in Dubai, lack of share capital requirement and guaranteed personal and corporate data confidentiality. JAFZA Offshore Companies are not allowed to carry on business activities in the UAE and do not provide residence visas. As JAFZA is also a Free Zone authority, it provides for the ability to convert offshore companies into Free Zone companies, should the management wish to do so.
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