The United Arab Emirates is a sovereign, federal, presidential and elected monarchy comprising seven absolute monarchical emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras Al Khaimah and Fujairah. Of the seven Emirates, the Emirates of UAE allowing Offshore Company registration are Dubai and Ras Al Khaimah.
The Jebel Ali Free Zone Authority, under Jebel Ali Free Zone Offshore Companies Regulations 2003, allows the formation of special status offshore companies with individuals or corporate bodies as shareholders, as a non-resident company, having a corporate legal entity.
RAKICC launched the International Business Company concept in 2015 subjecting the IBCs formed under it to be regulated by the International Business Company Regulation.
A UAE Offshore company is subject to the following restrictions.
No UAE Offshore company shall