Offshore company

A UAE company formed for holding assets rather than trading — RAK ICC, JAFZA Offshore or Ajman Offshore. It has no premises, conducts no business inside the UAE and cannot sponsor residence visas for anyone, including its own shareholders.

Where it comes up

Offshore companies exist to hold things — shares, intellectual property, and in some cases property. RAK ICC, JAFZA Offshore and Ajman Offshore are the three UAE registries, and they are not cheaper versions of a free zone company.

What it costs

Low: a registered agent fee and annual maintenance. There are no premises to pay for because there are no premises.

Who it applies to

Holding structures, family asset vehicles and property-holding companies. Never an operating business.

How it actually goes

1. Appoint a registered agentYou cannot file directly with RAK ICC or JAFZA Offshore. An approved agent submits on your behalf and remains the point of contact.
2. Pass KYCPassports, proof of address, bank reference, a structure chart, and a clear statement of what the company is for. Agents decline files they cannot explain.
3. IncorporateUsually a matter of days. You receive a certificate of incorporation, memorandum and articles, and a share certificate.
4. Understand the limitsNo residence visas, no UAE office, no local trading. It is a holding and asset-owning vehicle, and RAK ICC can hold Dubai property where approved.

Banking an offshore company is materially harder than banking a free zone one. If the structure needs a UAE account, resolve that with the bank before incorporating rather than after.

In short

• Holds shares, IP and in some cases property
• No visas, no premises, no domestic trade, no VAT registration
• Not a cheaper version of a free zone company — a different product

Where this leads

Back to the glossary