UAE offshore company comparison in 2023
| Jebel Ali offshore company | RAK offshore company | Ajman offshore company | |
|---|---|---|---|
| Summary at a Glance | US$ | US$ | US$ |
| Total company set up costs | US$17,400 | US$15,401 | US$12,670 |
| Subsequent annual costs | US$7,550 | US$5,551 | US$3,200 |
| Type of company | LLC | LLC | LLC |
| How long to set the company up? | 2 weeks | 2 weeks | 2 weeks |
| How long to open company bank account? | 5 weeks | 5 weeks | 5 weeks |
| Issued share capital required | US$1 | US$1 | US$1 |
| Any restriction on activities? | Yes | No | No |
| Corporate bank account in the UAE? | Yes | Yes | Yes |
| Tenancy agreement required before incorporation? | No | No | No |
| Do you visit the country for company incorporation? | No | No | No |
| 100% foreign ownership allowed | Yes | Yes | Yes |
| Resident director or shareholder required? | No | No | No |
| Can conduct business within the UAE? | No | No | No |
| Legal registered office needed? | Yes | Yes | Yes |
| Can rent office premises | No | No | No |
| Can the entity hire expatriate staff? | No | No | No |
| Bearer shares allowed? | No | Yes | No |
| Documents to be legalized by Client | Yes | No | Yes |
| Can invest in UAE real estate | No | No | Yes |
| Legal considerations | |||
| Minimum number of directors | 2 | 1 | 1 |
| Corporate director allowed? | No | Yes | Yes |
| Minimum number of shareholders | 1 | 1 | 1 |
| Company secretary needed? | Yes | No | Yes |
| Resident company secretary? | No | No | Yes |
| Corporate company secretary allowed? | No | Yes | Yes |
| Individual shareholders allowed | Yes | Yes | Yes |
| Corporate shareholders allowed | Yes | Yes | Yes |
| Public register of shareholders and directors | No | No | No |
| Tax and accounting considerations | |||
| Annual accounting and tax obligations | No | No | No |
| Corporate tax payable (if non-resident) | No | No | No |
| Accounting records to be kept? | Yes | Yes | Yes |
| Statutory audit required | Yes | No | Yes |
| Annual tax return to be submitted | No | No | Yes |
| Can access double tax treaties | No | No | No |
| Can apply for immigration visas | No | No | No |
| Estimated of total engagement costs in Year 1 | US$17,400 | US$26,750 | US$12,670 |
| Draft Invoice | View invoice PDF | View invoice PDF | View invoice PDF |
