The number of newly registered companies became to grow in the United Arab Emirates in 2010 when the world crisis began to subside. The numerous investors from all over the world strive for setting up business in the UAE. The offshore companies became the spotlight for businessmen, which results in rapid growth of offshore popularity in the UAE, thereby leaving behind the rest of the free trade zones. The experts explain this phenomenon by substantially reduced operating costs.
The UAE is the most desirable country to invest in the Middle East due to transparency of deals and transactions, the advanced infrastructure and high level of easiness in establishing relations with the officials and representatives of the free trade zones. The United Arab Emirates give the credit for a great deal of investments to the free trade zones and offshore centers.
The oil-gas industry is one of the most prevailing areas for setting up offshore businesses. The Offshore Arabia Conference Expo is held since 2007 to deal with the problems of pollution on the offshore and inland oil fields arranged in the Persian Gulf. The conference is held under the protection of the Vice-President and the Prime minister of the United Arab Emirates and the Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum. The eighth conference is intended to be held in March next year.
The first offshore company in the UAE was registered in Jebel Ali in 2003. One offshore center located in Jebel Ali and two ones established in Ras Al Khaimah operate in the Emirates today. Offshore in the UAE is gaining popularity nowadays.
The offshore center located in the Ras Al Khaimah that became one of the most famous for the recent years has operated since 2006, when the Government of the Emirate adopted the law on the international company activity like that applicable in the offshore area in the British Virgin Islands. Ever since, if you wish to register offshore in the very northern emirate of the UAE, you should have the director, shareholder, secretary and the authorized capital in the amount of 1,000 dirham.
