Company Setup : offshore

Offshore companies are permitted to open a bank account in the UAE, however, they cannot issue work visas or have a physical office within the country. Offshore licenses are typically used as holding companies and are mainly incorporated for operations in foreign countries with financial, legal and tax benefit purposes. Offshore companies under free zones such as JAFZA and RAKICC can own real estate in the UAE.

Some of the major benefits of an offshore enterprise are the confidentiality they offer to the business, the financial non-intervention by neither the foreign government nor the one in the mainland, permission to create a bank account at a bank inside UAE and owning real estate in UAE. The additional securities include lawsuit protection and prevention of seizing of assets even if the shareholders are to be held accountable for a certain liability.