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:

• to own and invest in real estate properties in Dubai
• to hold shares in local or overseas entities
• for tax optimization
• for estate planning
• for conducting business activities abroad including trading, investment and consulting activities
• to have corporate address and bank accounts in UAE

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:

• uses legal, accounting, auditing, management consultancy and similar services of those who are based in the UAE
• prepares and maintains books and records within the UAE
• holds meetings of its directors or members within the UAE
• leases a property to use as a registered office or owns real property on any free hold areas of Dubai
• holds a bank account in the UAE based banks for the purpose of conducting its routine operational transactions

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

• Globally respected jurisdiction
• Fast incorporation process
• It can maintain bank account(s) in the UAE or worldwide
• No taxation (no capital gains tax, no value added tax, no withholding tax, no personal income tax, no corporate tax)
• 100% capital and profit repatriation is permitted
• 100% foreign ownership
• Dubai Offshore Company does not need to have a physical office in the UAE
• Dubai Offshore Company may own real estate in the UAE free hold areas and exclusively in Dubai;
• No paid up share capital requirement
• No annual audit requirement
• Dubai Offshore has a closed register and does not participate in any information exchange treaties
• Dubai Offshore Company is not obliged to maintain its books and records
• Dubai Offshore Company may own shares in other companies in the UAE and worldwide

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:

• International general trading
• Business consulting services
• International business services
• Property owning and investments

Registered Agent

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.

Are you looking to register your Offshore Company in Dubai?

We provide fast and reliable Offshore Company formation services in Dubai. Our Offshore Company formation fees are highly competitive. Please get in touch with us for professional assistance. You can call us on +971 55 465 9836, send us email at contact@mimolegal.com or use the contact us form on this website. First consultation is FREE.