Dubai is an oil rich Kingdom in the Persian Gulf; one of the seven Emirates in the United Arab Emirates, and its largest city with over two million population.
It is a progressive Muslim state with extensive commercial interests throughout the world. English is widely spoken. There are thousands of companies of every nationality in its industrial and Free Economic Zones and it has excellent infrastructure and communications. Dubai is well known as a major Global Financial Centre but is perhaps less well known as an Offshore Centre.
Regulations were passed in 2003 establishing the basis for the Jebel Ali Free Zone Offshore Companies, Operating under the Jebel Ali Free Zone Authority (JAFZA). Regulations were also passed in 2006 by the Ras Al Khaimah Investment Authority establishing the RAK Offshore Companies.
While JAFZA is older and better known, we recommend incorporating under the RAK Offshore regulations. It is less expensive and the regulations are more flexible. Only one Director is required instead of two and it can be a corporate director.
There are other advantages as well in administration. Companies established under both Offshore Company regulations are free of all taxes, both profit and capital gains, and may be 100% owned by foreigners. As such, the Dubai Offshore company can operate exactly like a regular Offshore Company in the usual jurisdictions.
The main advantage of a Dubai Offshore Company is that it is not a tax haven, not on any black list, has no exchange of information treaties and is a fully confidential jurisdiction. It is essentially the Premier Offshore Company location as it can be used anywhere without question, in completely privacy.
You will have a prestigious office address in Dubai and you may open a bank account in Dubai or elsewhere. The disadvantage of course, is that it is more expensive than most, but it is well worth it to those who can afford the cost.
Accounts must be kept but statements are not filed with the Government. Accounts are not available to the Public. Please note that accounts must be kept. It is an offence not to keep accounts.
The company may not conduct trading activities in Dubai or within the United Arab Emirates but of course it is an excellent corporate vehicle for doing business in the Middle East and elsewhere in the world.