We assist clients shape and nurture their JAFZA offshore business in UAE.
The Jebel Ali Free Zone Authority (JAFZA) introduced regulations in 2003 for offshore company formation inside the Jebel Ali Free Zone. As a result, the international business community can now establish offshore entities at JAFZA in line with other international offshore jurisdictions. Regulations were framed in a manner so as to deliver the convenience and efficiency of global offshore locations and maintain a high repute with international financial authorities.
Benefits and regulations of forming JAFZA Offshore
- 1. Regulations have been framed to deliver the convenience and efficiency of global offshore locations but at the same time maintain a high repute with international financial authorities.
- 2. An offshore company has the capacity and privileges of a natural person.
- 3. No minimum capital requirement.
- 4. All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. There is no requirement to deposit the capital in bank.
- 5. The minimum number of Directors shall be two. Every offshore company in Dubai should have a Secretary (a UAE resident) who may also be a Director of the company.
- 6. 100% foreign ownership permitted.
- 7. Total tax and duty exemption.
- 8. An efficient regulatory regime.
- 9. Opening corporate bank account in a bank at Dubai.
- 10. A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by JAFZA. We are an approved registered agent with JAFZA.
- 11. The Offshore domicile is located in the Jebel Ali Free Zone (JAFZA).
Limitations of JAFZA Offshore Company setup
- 1. Accounts have to be audited and submitted to the Authority.
- 2. The company cannot rent local premises.
- 3. The shareholders are required to visit JAFZA in person.
- 4. Company cannot offer banking, insurance, consultancy or advertising services