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JAFZA Offshore Company Setup
JAFZA Offshore Company Setup
JAFZA is one of the fastest-growing free zones of Dubai with its own set of regulations and was created specifically with the aim of attracting foreign investment. Jebel Ali Free Zone Authority (JAFZA) introduced JAFZA offshore company setup in 2003 under the JAFZA offshore company regulations which allow the formation of an offshore company by individuals or corporate bodies, as a non-resident company, having a corporate legal entity.
JAFZA offshore company is allowed to trade internationally and is allowed to own property in the Emirate of Dubai. This structure also permits the existence of corporate shareholders. JAFZA offshore company is also allowed to own and operate a bank account in Dubai as well. However, these companies aren’t physically present in the country, nor are they allowed to conduct business activities within the country.
Having assisted a number of entrepreneurs in setting up their offshore businesses successfully, Business Link is proud to be the leading business setup consultant in UAE across all jurisdictions.
Benefits of setting up a company in the JAFZA Offshore
- There are absolutely no currency restrictions. This means that you can invest and conduct business with the currency that best suits your needs.
- Companies operating under JAFZA are 100% foreign-own and allow 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.
- Accounting procedures are easier to carry out.
- Ease of control, maintenance & operation.
- Complete confidentiality and privacy.
Documents required for JAFZA Offshore Company Setup
To start any business in the UAE, it is mandatory to submit all required documents regardless of the jurisdiction you’re applying in. Generally, licenses are issued within two working days, but delays might come up if there are errors within your application. Following is a list of documents required for a JAFZA company setup.
- Completed JAFZA application form
- Passport copies of all shareholders and managers (Must be valid for six months)
- Colored passport-sized photographs of all shareholders and the manager
- No objection letter from the existing sponsor, if the applicant is an expat resident of the UAE.
- Project summary
- Memorandum of Association
- Articles of Association
- Environmental health and safety application form for EHD (Environment Health and Safety)
- An attested passport copy of the investor (in case of they're physical absence). The copy must be certified by a lawyer.
- A license certifying the lawyer and their validity must be submitted as well.
Process of opening a JAZFA offshore company
At Business Link UAE we support our clients to select the most appropriate solution and guide them through the complete procedures of JAFZA Offshore company formation. The process of setting up your Offshore company is quite straightforward, here it is;
- You’re first required to finalize a company name. Keep in mind, that there can be some back and forth with this step since your picked name must be available for you to proceed ahead with it.
- Next, 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, with the two main components decided upon, you can fill and submit your application form to the authorities and obtain an initial approval.
- Along with this, you must also submit the MoA and AoA once drafted.
- Upon the successful issuance of your offshore license, you may proceed with your business operations
It’s time to stop dreaming and start living! If you’ve always been interested in offshore company formation in Dubai, partner with Business Link – because we are you #linktosuccess.