Tuesday, July 31, 2012

which Properties can be held through JAFZA offshore Company

Through the 2006 Circular that Jafza issued, it states that Jebel Ali offshore entities can own property in any projects in Dubai that were owned by Dubai World, Dubai Holdings and Emaar Properties.

As per our understanding that there is no restriction on any freehold property, Jafza offshore companies must still obtain an NoC from Jafza in order to register title at the Land Department.

Monday, July 30, 2012

Reasons to own property in Dubai Through Offshore Company


There are a number of good reasons why the use of offshore companies has become so popular when buying property in Dubai. The most obvious reason would be the avoidance of complicated inheritance procedures. 

A company does not die. If your property is held in a low-cost offshore company, you (and your partner or partners) can own the shares of it as you see fit. So rather than have your individual names on the title of the property, you have a company name.

This is a very easy method for joint investment, for confidentiality, and for organising one’s assets under a manageable structure (and in many cases, in a common-law structure).



This applies only in Dubai. i.e, one can still buy property in Abu Dhabi through a BVI (British Virgin Islands) company.

The Land Department decision of January 1, 2011, has confirmed that it will not register property title to any foreign company, unless that company is registered offshore with the Jebel Ali Freezone (Jafza).

Tuesday, July 24, 2012

Holding Property through UAE Offshore Company

Dubai Land Department has banned the registration of property in the name of virtually all ‘offshore companies’ or companies not registered onshore in Dubai. This came into effect on January 1, 2011. 
The one exception to the ‘offshore company ban’ is the Jebel Ali offshore company

Individuals can still buy property in their own names, but the change is that previously they could use any foreign company to hold their property (if they wanted to), but now they can use only a company that is registered with a trade licence in Dubai, or a Jebel Ali offshore company


Monday, July 9, 2012

"OFFSHORE" By Definition

As terms  'offshore business' & 'offshore company' have No precise legal, tax or general business meaning, as the word 'offshore' often means nothing more than anywhere other than the place of physical location of the person using the word (i.e. overseas). 

Individual or corporate  use the words offshore business and offshore company as terms of definition in connection with matters such as the structuring of international business and family wealth management or tax planning

Thursday, July 5, 2012

Tax evidence through UAE offshore license



Offshore companies are usually prohibited from conducting business or retaining employees in their jurisdiction of incorporation. 
The biggest offshore licensing authority in the UAE is Jebel Ali Offshore, which implements tight audit regulations. He said, a lot of investors use the channel to evade tax in their country.

Offshore companies organise assets and transactions in such a way that assets are shielded from future liabilities. “Moreover, an offshore company could form another entity to shield its assets and liabilities.
Offshore companies could carry out transactions in the name of a private company, the name of the underlying principal may be kept out of documentation