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


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