What it can do
| Use | Detail |
|---|---|
| International trade | With customers outside the UAE |
| Holding company | Holding shares in other companies |
| Real estate | Owning property, where the land registry accepts it |
| Intellectual property | Registering copyrights and patents |
| Consulting | International consulting services |
Source2
Jafza and RAK ICC
| Jafza offshore | RAK ICC | |
|---|---|---|
| Emirate | Dubai | Ras Al Khaimah |
| How to apply | Choose a registered agent, then file the signed application | Only through a registered agent |
| People | At least one shareholder, one director and one secretary | Set by the company type |
| Time to incorporate | Not published | 2 working days after documents are in |
Owning property in Dubai
The Dubai Land Department does not let foreign companies own Dubai property directly. A foreign company can buy through a company registered in an approved Dubai free zone, such as Jafza or DMCC, within the areas designated for foreign ownership. For a purchase it asks for a no-objection certificate from the licensing body.4,5
Timeline and timeframe
Each step in order, with the processing time the authority publishes. Green steps are handled by a government authority.
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Choose a registered agentYour decision
Offshore companies are formed through an approved registered agent.3
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Documents and due diligenceVaries
Passports, proof of address and know-your-customer checks on the owners.3
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Incorporation2 working days
RAK ICC's published time once the documents are in.3
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Register to hold Dubai propertyVaries
An offshore company buying in Dubai registers with the Dubai Land Department.5
Questions
Does an offshore company give me a residence visa?
No. It has no trade licence in the UAE and does not sponsor visas. For a visa you need a free zone or mainland company.2
Can an offshore company open a UAE bank account?
Yes. Jafza says its offshore companies can bank with UAE or foreign banks in the currency they choose; each bank applies its own checks.1