No taxes No currency control No paid-up share capital No audit No citizenship limitations for company directors No limitations on the capital expatriation Learn more about offshore company formation
For example in EU Savings Directive obliges financial institutions in all EU member states to either disclose tax and bank information to the relevant tax authority, or charge clients a hefty withholding tax. Some banks in “tax havens” have agreed to disclose their customers details. These places include Jersey, Guernsey, the Isle of Man, the British Virgin Islands, the Cayman Islands, Switzerland, Liechtenstein, Monaco and San Marino.
UAE has long enjoyed a reputation of a secure, tax-free jurisdiction for international banking and company incorporation. UAE banks do not open any information about their customers and keep privacy as their highest priority. UAE is one of the fastest growing countries in the world with one of the highest standards of living.
UAE is not a “tax haven” or overseas territory of some country. It is an independent country with one of the fastest growing economies in the world, which offers all the benefits of a tax haven not being such, and far beyond. UAE is not a member of European Union or OECD, thus it doesn’t have to follow EU regulations. In the days of unstable global economy UAE becomes one of the best places for investment and protection of your assets.
This type of offshore companies is registered by Ras Al Khaimah Authority. RAK offshore can hold property only in the Emirate of Ras Al Khaimah.
Today RAK offshore is getting more popular with international businessmen by a few reasons. First of all, your incorporation documents will not state the status of your company as “Offshore”. Instead it will be called “International Company”. Here you can check the way it looks.
Secondly, the price for RAK International Company formation is quite reasonable – 3150 USD, including Agent’s fees.
This type of offshore companies is registered by JAFZA Authority in Jebel Ali. The main advantage of having a JAFZA offshore is that this type of company can can buy and hold property in Dubai.
JAFZA Authority is located in close proximity with Dubai, but the price for offshore company registration here reaches up to 6 000 USD.
