UAE Offshore Company Setup
An offshore company in the UAE refers to a business entity established within the country’s free zones, specifically designed for conducting operations outside the UAE.
These companies are commonly referred to as offshore companies or Offshore International companies. The emirates of Dubai, Ras Al Khaimah (RAK) and Ajman, offer offshore company options, each with unique benefits and regulatory frameworks.
The framework for offshore companies in the UAE has evolved significantly over the years, with the first offshore company license being granted in 2003 by the Jebel Ali Free Zone Authority (JAFZA). This landmark decision allowed JAFZA to create and implement its own rules and regulations tailored for offshore entities, paving the way for a robust offshore business environment in the region.
Similarly, RAK ICC (Ras Al Khaimah International Corporate Centre) was established to provide an appealing offshore option, further diversifying the UAE's offerings.
The establishment of offshore companies was a strategic move to attract foreign investment and promote economic growth. Offshore entities are primarily intended for activities that do not involve conducting business directly within the UAE market.
Instead, they serve as platforms for international trading, asset holding, and investment facilitation, allowing businesses to benefit from the UAE's favorable regulatory environment while maintaining operations globally.
One of the appealing features of setting up an offshore company in the UAE is the flexibility it offers. Companies can choose from a wide range of business activities and structures that suit their operational needs.
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