Dubai Offshore Company is an offshore company registered under Jebel Ali Free Zone Authority in Dubai. In 2003, Dubai Ports and Customs Authority issued the Regulation “On Offshore Companies” and Jebel Ali Free Zone has been mandated to register offshore companies in Dubai. Ideally, Dubai Offshore Company is used for one or more of the following purposes:
In general, Dubai Offshore Company is not entitled to operate any business activity in the UAE’s local market without having a local agent or a subsidiary company registered in a mainland or a free zone. It shall not be considered as doing business in the UAE’s local market, if Dubai Offshore Company:
Since January 1, 2011, only Dubai Offshore Company is authorized to own real properties in Dubai’s free hold areas.
Major Incentives of Dubai Offshore Company
Restrictions on Dubai Offshore Company
Dubai Offshore Companies can ideally carry out business activities only outside the UAE, unless it has a branch, subsidiary or owns shares in a local company in the UAE. It may not be engaged in banking, insurance and re-insurance businesses.
Permitted Activities of Dubai Offshore Company
Dubai Offshore Company is permitted to carry out one of the following business activities outside the UAE:
Dubai Offshore Company shall be registered only through Registered Agents.
Directors and a Company Secretary
Minimum two directors and one secretary should be appointed for Offshore Company formation in Dubai. One of the directors can act as a secretary as well as a shareholder can be a director and a secretary. First directors are elected by incorporators and thereafter by shareholders.
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