While offshore companies are allowed to establish bank accounts in the UAE, they are not permitted to obtain work visas or maintain a physical office within the country. Typically, offshore licenses are utilized as holding companies, primarily incorporated for conducting operations in foreign countries to benefit from advantages related to finance, legal matters, and taxation. It’s worth noting that offshore companies operating under free zones like JAFZA and RAKICC have the ability to own real estate in the UAE.
- Low startup cost
- Speedy incorporation process
- 100% tax-free
- 100% foreign ownership permitted
- No paid-up share capital or audit requirement
- Multiple bank accounts