UAE offshore company comparison in 2022

  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$11,870 US$12,670
Subsequent annual costs US$7,550 US$4,470 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$11,870 US$12,670
Draft Invoice View invoice PDF View invoice PDF View invoice PDF

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