1. Where to Open an Offshore Company in the UAE
There are two main jurisdictions in the UAE where offshore companies can be established:
- RAK ICC (Ras Al Khaimah International Corporate Centre)
- JAFZA Offshore (Jebel Ali Free Zone Authority)
These jurisdictions allow non-residents to own 100% of their offshore entities and are widely used for global structuring, wealth management, and holding shares in other companies.
2. What Are the Benefits of an Offshore Company in Dubai?
One of the key reasons clients choose to set up offshore companies in the UAE is shareholder privacy.
Most offshore companies are used as corporate shareholders in other entities, including mainland or free zone companies. This way, the names of the real individual shareholders are not publicly disclosed. Instead, the offshore company name appears on official documents, which helps in structuring ownership discreetly and legally.
This kind of structure is commonly used for asset protection, tax planning, and international business expansion.
3. How to Set Up a Company in RAK ICC (RAK Offshore)
Unlike mainland or free zone companies, offshore companies cannot be established directly by individuals. Instead, the process must go through a registered agent who is licensed and authorized by the offshore authority.
Why do you need a registered agent?
Offshore companies do not come with a physical office address. Instead, the official registered address is provided by the agent. More importantly, all major tasks related to the offshore company—such as amendments, renewals, or liquidation—must be handled through the agent.
Hence, it’s crucial to choose a reliable and experienced registered agent who can provide long-term support. At RAS Corporate Advisors and CSPZone, we offer seamless offshore company formation services backed by years of expertise.
4. Cost to Set Up an Offshore Company in the UAE
Here’s a breakdown of the costs involved:
RAK ICC Offshore Company:
- License Cost: AED 5,000 (~USD 1,500)
- Agent Fee: AED 4,000 (~USD 1,200)
- Multi-Year Option: You can also opt for a 3-year package to reduce yearly renewal hassle.
JAFZA Offshore Company:
- Process and documentation are similar, but costs can go up to AED 20,000 (~USD 5,000) due to JAFZA’s premium positioning and additional compliance requirements.
5. Timeline and Documentation
The entire process typically takes 5–7 working days, provided all documents are in order.
Required Documents:
- Passport Copy
- Emirates ID and Visa Copy (if resident)
- Proof of Residence (e.g., utility bill or bank statement)
- Mobile Number and Email ID
- CV or professional profile
- Shareholding percentage and details
6. Frequently Asked Questions
Q1: Will an offshore company provide a visa?
A: No, offshore companies are not eligible for UAE residence visas.
Q2: Can I open a bank account with an offshore company?
A: Yes, you can, with the help of a qualified consultant. However, bank compliance is strict, and the process can take time.
Q3: Can I operate a business inside the UAE with an offshore company?
A: No. Offshore companies cannot legally operate within the UAE. If you want to do business locally, you must set up a Free Zone company (for UAE-wide operations without a local market presence) or a DED Mainland company (for full local market access).
Final Thoughts
Offshore company formation in the UAE is an excellent option for global business owners, investors, and high-net-worth individuals looking for privacy, efficiency, and asset protection. However, choosing the right agent is critical. At RAS Corporate Advisors and CSPZone, we guide you through every step—from consultation to documentation and compliance—ensuring a smooth and transparent process.
Ready to set up your offshore company?
Contact our experts today for a free consultation.
