Last updated
An offshore company UAE investors register is a company formed here to trade abroad, hold assets or own other companies, not to do business inside the UAE. It has no trade licence for the local market, no office lease and no residence visas. The main registry is RAK ICC in Ras Al Khaimah. Jafza, Ajman Free Zone and Fujairah Free Zone also list an offshore option. Agents publish RAK ICC first-year packages at about AED 6,500 to AED 12,500.
Offshore, free zone or mainland
| Offshore company | Free zone company | Mainland company | |
|---|---|---|---|
| Where it trades | Outside the UAE | In its zone and abroad | Across the UAE market |
| Office | Registered office at the agent | Desk, office or warehouse in the zone | Premises approved by the licensing department |
| Residence visas | None | Quota set by the zone, usually by space | Set by the licensing department |
| Formed through | Registered agent | The zone | The emirate's economic department |
A free zone company that wants UAE customers sells through a licensed mainland distributor or opens a mainland branch, says the u.ae portal. An offshore company has even less room: it is not licensed to trade in the UAE at all. Our free zone vs mainland page covers the other two columns.
Offshore company setup in UAE: where to register
| Registry or zone | What it lists | Published price |
|---|---|---|
| RAK ICC | Companies limited by shares or by guarantee, restricted purposes, segregated portfolio, IP holding, foundations | Registry fee AED 3,250 to incorporate, AED 3,950 a year to renew (3 agents); packages AED 6,500 to AED 12,500 first year (2 agents) |
| Jafza (Dubai) | Offshore Company as one of five entity types | Not on the pages we read |
| Ajman Free Zone | Offshore as one of seven licence types | Not published |
| Fujairah Free Zone | Offshore Company on the official application form | Not published |
Source: RAK ICC site (archived copy), Jafza company formation page, Ajman Free Zone licence types, Fujairah Free Zone application form, checked . The RAK ICC registry fees are published by 3 agencies, two of which cite the registry's fee schedule in force since . The package range comes from 2 other agencies.
RAK offshore company registration through RAK ICC
RAK ICC was formed under Decree No. 12 of , amended in , by merging two older Ras Al Khaimah registries. You cannot apply to it directly. A RAK ICC licensed registered agent prepares the documents, keeps your registered office and files the renewal each year. The minimum capital is one share, in AED, USD, EUR or GBP. The registry homepage promises one-day incorporation; one agent's fact sheet says five days.
The registry itself charges AED 3,250 to incorporate an IBC and AED 3,950 for each yearly renewal, going by three setup agencies; RAK ICC's own schedule could not be read online. Everything else in a package is the agent's work. Of the two agency packages, the cheaper covers incorporation, the registered agent for a year and the constitutional documents, with the agency's own fee added on top. The dearer one adds share certificates, a company stamp and the registered office for a year. Ask for year two in writing too, since the AED 3,950 registry renewal and the agent's fee come back every year. The RAK ICC page covers its legal forms in detail.
Dubai offshore company registration: the Jafza route
Jafza lists the Offshore Company among the entity types it registers, alongside the FZE and FZCO. Jafza calls itself the largest customs bonded zone in the Middle East, but its offshore company is a separate product from its trading licences. Jafza did not publish offshore fees on the pages we read. If you want to register an offshore company in Dubai so the certificate carries a Dubai address, ask Jafza or a setup partner for the current fee and what the offshore company may do.
Ajman Free Zone and Fujairah Free Zone list offshore options too, also without public prices.
What an offshore company cannot do
- Sponsor a UAE residence visa, for you or for staff
- Lease an office or warehouse in the UAE
- Trade with UAE customers under its own name
- Get an establishment card
If you need any of these, pair the offshore company with an operating company. RAK ICC has offered exactly this: a RAK ICC holding company that owns a RAKEZ subsidiary, which holds the licence, office and visas. See holding company UAE for other holding structures.
Offshore bank account Dubai: what banks ask
Opening the account is often the slowest part. RAK ICC says its companies can bank in the UAE and abroad, but each bank decides for itself. Have these ready:
- A clear description of what the company does and who its clients are
- The ownership chart down to the individuals
- Proof of the source of funds
- Contracts or invoices, if the company already trades
Some UAE banks publish no-minimum-balance business accounts, such as Mashreq NEO BIZ at AED 99 a month, but eligibility for an offshore company is the bank's call. Read corporate bank account before you apply.
Tax and reporting
- Corporate tax. Ask your agent how corporate tax registration applies to your company. For new resident companies the FTA deadline is three months from incorporation.
- Economic substance. ESR notifications and reports were cancelled for financial years ending after 31 December .
- Beneficial owners. RAK ICC registered agents hold the beneficial owner records the registry asks for.
Offshore business setup in UAE: the steps
- Decide what the company is for: holding, trading abroad, or owning IP.
- Pick the registry and a licensed registered agent.
- Choose the legal form and a name.
- Send certified passports and proof of address to the agent.
- Sign the memorandum and articles.
- The agent files and pays the registry fee; the certificate follows.
- Open the bank account.
Documents
- Certified passport copy for each shareholder and director
- Recent proof of residential address
- Signed memorandum and articles
- Letter appointing the registered agent
- Company papers for any corporate shareholder
Get an agent's quote
Use the form on this page to say what the offshore company will own or do and where you live. We are an independent directory, not a registry or a free zone, and we do not form companies. We pass your request to a licensed registered agent or setup partner, who quotes you directly.
Sources
- RAK ICC about page (archived): registry status, decrees, registered agents
- RAK ICC home page (archived): legal forms, one-day incorporation, bank accounts
- RAK ICC Premium Product (archived): RAK ICC holding company with a RAKEZ subsidiary
- Trident Trust key facts (PDF): share capital and five-day timing
- Jafza company formation: Offshore Company entity type
- Ajman Free Zone licence types: Offshore licence
- Fujairah Free Zone start your business: entity types and offshore option on the form
- ADGM schedule of fees (PDF): SPV fee and registered office rule
- u.ae running a free zone business: free zone sales into the UAE
- Mashreq NEO BIZ: business account fee
- Ministry of Finance on economic substance: ESR cancellation
- Avyanco packages and Rizmona RAK offshore: RAK ICC agency packages
- VJM Global RAK ICC fees, Binderr RAK ICC page and BCL: RAK ICC registry incorporation and renewal fees
