Quick question:

If a RAK offshore company owns property in Dubai, does it need a license to rent out the property (i.e. act as landlord)?

if it does, where would such a license be obtained, and how much would it cost?

Thanks!

AFAIk any business in the uae requires a license. But its own properties leasing is not exactly legal as the business license activity specifies what activities one can carry out

RT, We will have a license in RAK but our properties will be in Dubai? Renting the property is the main activity of the company. Basically, the RAK regulations says it is ok to do this as long as we have the proper licenses in the other emirates. I am trying to figure out if Dubai requires such a license.

No they do not require a licence to rent out property. They can act as landlords and you will be making payments in the name of that company. Serves as a tax haven at times.

Establishing an offshore company is one way of securing your investment in case of death - OR - when more than 1 investor is involved - OR - in the evnt of a sale where the company itself is sold.

You are not guided by the local Sharia laws which can be pretty stringent.

Off shore companies can be established with ease and if I have the figures right, the last time a friend quoted around Dhs 12,000 per year.

Roshan

I once involved with a deal of 20K sq. ft. warehouse in DIP Dubai owned by a company. They acted as the landlord, they issue the No Objection Certificate (NOC), they take care of all the paper works and they even receive the cheque for the property tax of 15% for DIP and the contract/deal was done in simple manner. Yes, the company can act as the landlord.