An Offshore Company in the UAE serves as a legal entity established to operate outside its jurisdiction or location of ownership. Hence, Offshore Company formation works in a manner quite different from that of Free Zone companies. Moreover, offshore Company registration helps businesses that are looking for expansion into international markets by providing them access to business-friendly legal options. Offshore company formation also provides businesses access to a more flexible and scalable regulatory regime. Let us now take a look at how Offshore company formation services, such as KGRN can help businesses.
Benefits of Offshore Company Registration
- Allows businesses to expand to foreign markets
- The flexible and more lenient legal system, allowing scalability
- Offers various tax benefits and government encouragement programs
- Provides businesses better access to funding from around the world
- Serves as a vehicle that both protects and separates assets
What are the two types of Offshore Company formation allowed in the UAE?
The two tax-free jurisdictions that offer registration of Offshore Companies in the UAE are as follows;
- Ras Al Khaimah – RAK
- Jebel Ali Free Zone – JAFZA
An Offshore Company has permission to open multi-currency accounts within the UAE and maintain business operations on an international level. As a result, both the RAK and JAFZA do not levy either corporate or income tax, and even allow 100% foreign ownership to encourage further investment. Also, they both require the offshore company to appoint a registered agent mandatorily before beginning operations.
Offshore companies must not engage in any business with anyone living within the UAE. Both the RAK and JAFZA differ in the benefits they provide and the compliance requirements they enforce. Partner with KGRN to build the Offshore company of your dreams and expand to new markets!
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