Legal Glossary

Offer Letter

A letter from a company to a potential employee setting out the key terms of the proposed employment. An Offer Letter usually includes details on the position, salary, bonuses (if any), annual leave, any ESOP offer, and confidentiality/intellectual property matters.

Offshore

Has different meanings depending on the context in which it is used. In the UAE, “Offshore” refers to a location outside the UAE. “Offshore” can mean either another country or carrying on business outside the UAE from within a Free Zone which permits such international activities.

Offshore Free Zone Company

A company registered in a Free Zone in the UAE which carries on business outside of the UAE only. In some circumstances, an Offshore Free Zone Company may own real estate in the UAE or shares in some UAE-incorporated companies.