JAFZA Offshore Company Setup
JAFZA Offshore Company Formation
JAFZA stands for Jebel Ali Free Zone Authority, which is one of the world’s largest and fastest-growing free zones. Located in Jebel Ali in Dubai South, JAFZA is a dynamic business hub that provides a unique environment for companies to do business in the UAE and beyond!
Much like the RAK free zone and Ajman free zone, JAFZA offers a range of business activities, including logistics, trading, manufacturing, and service sectors. Companies in JAFZA can benefit from 100% foreign ownership, zero corporate and personal income tax, no customs duty, and no restriction on capital repatriation.
In addition to the above, JAFZA also has a range of other advantages for businesses, such as streamlined visa and immigration procedures, access to a skilled workforce, and a favorable regulatory environment that supports business growth.
Why Setup A Business in JAFZA?
- No currency restrictions - you can invest and conduct business with the currency that best suits your needs.
- 100% foreign-ownership and 100% repatriation on capital and profits.
- Those who opt for business setup in Dubai enjoy 100% tax exemption on:
- Corporate and Personal Income
- All Imports and Exports
- Ease of control, maintenance & operations
- Complete confidentiality and privacy
Documents Required:
To start any business in the UAE, it is mandatory to submit all required documents regardless of the jurisdiction you’re applying in.
Here are the documents required to setup a business in JAFZA:
- Application form
- Passport copies of all shareholders and managers (Must be valid for six months)
- Passport-size photographs of all shareholders and the manager
- NOC from the existing sponsor, if the applicant is an expat in the UAE
- Project Summary/ Business Plan
- Memorandum of Association
- Articles of Association
- Environmental health and safety application form for EHD (Environment Health and Safety)
- Attested passport copy of the investor (in case of their physical absence). The copy must be certified by a lawyer
- Lawyer's certificate
Opening A Company in JAFZA: Process
The process of setting up your offshore company is quite straightforward, here are the steps:
- First, decide on a business name. Make sure it reflects your business activity and remember to have 3-4 options. As the authorities will have to make sure it fits the right brief.
- Next, it's time to finalize the business activities you want to be involved in. This step is crucial as it keeps you informed on what other approvals you might need prior to setting up your company.
- Now, you can fill and submit your application form to the authorities to obtain an initial approval.
- Submit the drafted MoA and AoA.
- Upon the successful issuance of your offshore license, you may proceed with your business operations.