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Description

Any legal entity established with the purpose of making profit, outside the country of residence is an offshore company. Such a company is often formed in a tax-free haven or an offshore financial center and is also known as International Business Company (IBC) or Non-Resident Company (NRC).

Being a Non-Resident Company means that shareholders do not get visa and there is no physical office for offshore company in UAE. Furthermore, Dubai offshore companies are not issued an operating license which means they cannot conduct manufacturing, trading or professional services in UAE. They are often incorporated for the purpose of managing offshore wealth, mutual funds, properties, hotels etc. They are only granted certificate of incorporation.