About 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.
Advantages:
- Low startup cost
- Speedy incorporation process
- 100% tax-free
- 100% foreign ownership permitted
- No paid-up share capital or audit requirement
- Multiple bank accounts