Foreign investors find UAE offshore company formation attractive due to the jurisdiction’s reputation, low taxes, asset protection capabilities and the ability to own real estate properties. Investors can open an international offshore company in the UAE with JAFZA, Ajman offshore or RAK ICC registries. However, investors need to appoint registered agents in the UAE to open an offshore company.
You are not allowed to open an international company directly with an offshore registry and this makes the role of registered agents critical to your offshore company formation strategy. This makes it important for you to understand the role and responsibilities of UAE registered agents. This blog will have a detailed discussion of the key role and responsibilities of registered agents in the UAE.
Provides a Registered Address for Investors
Globally, all offshore jurisdictions, including the UAE, require international business companies (IBC) to have an address in that country. This address is formally termed the registered address. IBCs are non-resident companies and are not allowed to carry out any activities within the UAE. However, the registered agent’s office address is the registered address of the offshore companies.
The name and address of registered agents in the UAE are filed with the Registrar of Companies. This address is the physical presence of offshore companies incorporated in the UAE. Any communication to be sent to the company from a Registry, creditor or Court, will be sent to the office address of the UAE registered agents.
Registered Agents can be Advisers
Registered agents are entities licensed to provide services related to company formation, administration and management. A typical registered agent in the UAE will be a fully staffed, equipped, qualified and regulated company, providing such services to a considerable amount of clients and their IBCs. Registered agents can advise foreign investors on key requirements such as the selection of offshore jurisdiction, cost of offshore company formation in the UAE, document requirements, mandatory approvals etc.
Point of Contact for Registrar/Govt/ Court & other Parties
Offshore companies are non-resident companies in the UAE. They carry out their business activities outside the UAE. Their only physical presence is the registered address, which is the address of the registered agents in the UAE. The UAE offshore company registrar will send all of its communications or notifications to the registered address. Communications from the government, court or any regulatory authority will also be sent to the address of the registered agents. In essence, the UAE registered agents act as the point of contact between the UAE offshore company and the registrar/court/government.
Offers Administrative & Secretarial Services
UAE registered agents provide reliable administrative and secretarial services for investors registering an offshore company in the UAE. Offshore company registered agents in the UAE can assist the investors with tasks such as drafting all the documents, assisting in the submission of documents, keeping the registry, and ensuring that the company is complying with annual reporting requirements if applicable. Specifically, offshore registered agents in the UAE offer the soloing services:
- Verify the documents of the customers as per the UAE regulations
- Prepare the documents mandatory for UAE offshore company incorporation
- Verify the identity of the customers
- Presenting and providing company documents to the customers when required
- Protect the information of the companies and the customers
- Handling the administration of the companies with applicable regulations
- Filing changes in the company structure, if any, with the company’s registry in JAFZA or RAK ICC
Help with Regulatory Compliance Requirements
Since offshore companies in the UAE are subject to the Economic Substance Regulations (ESR), the help of registered agents has become critical for offshore company owners. Registered agents in the UAE can help the companies to carry out an annual self-assessment to determine whether they fall within the scope of ESR. They can also help the companies file ESR compliance requirements such as filing ESR notifications & ESR Reports and meeting the Economic Substance Test.
Hire the Leading Offshore Registered Agents in the UAE
A foreign investor who is planning to commence offshore company formation needs to hire the required registered agents in the UAE for completing the process. Investors looking to change their current registered agent due to poor quality or expensive services can also hire the best-registered agents in the UAE such as Jitendra Business Consultants (JBC). JBC provides reliable offshore registered agent services in the UAE for foreign investors.
JBC has years of experience in the field and we have created hundreds of companies that are satisfied with our UAE offshore company formation services. JBC has incorporated companies in RAK ICC, Ajman Offshore and JAFZA. Being one of the top offshore registered agents in Dubai, JBC’s services are seamless, robust and affordable.
