An industrial area surrounding the Jebel Ali Port, JAFZA Offshore was created in 2003 permitting international businesses to launch offshore entities next to one of the world’s biggest seaports. Setting up an offshore company in JAFZA comes with many benefits including zero taxes, easy bank setups, and liberal government laws and policies.
Once the required paper works submitted, it will take up to 7 days for a company to set up their business and get it running. Investors or owners must be physically present to set up the company. Investors and owners must go through associates, lawyers and legal consultants to set up the company.
Bank accounts in JAFZA offshore can be managed from anywhere in the world via internet banking facilities. With zero taxes, investors have full control of their funds. Companies in JAFZA offshore have the address of their legal agent rather than their own company name.
Main Benefits of setting up business at JAZFA Offshore
100% foreign ownership
The only offshore company where you can own UAE real estate
Multi-currency bank account
No corporate or income tax
No annual reports or accounts to be filed
Shareholder structure in JAFZA Offshore
Shareholders – generally, minimum of one shareholder is required to set up a company in JAFZA offshore. Corporate shareholders are permitted and shareholders can decide the capital structure of the company and how the shares will work between them.
Directors – for company registration in JAFZA offshore, minimum of one director is required
Secretary – companies must either have a secretary or the director can act as the secretary.
Set Up a Business in Jafza Offshore
Other requirements for JAFZA Offshore
Naming – all companies registered with JAFZA must end with Limited in their company name.
Tax – JAFZA is free of corporate and income tax. However, if a company has a taxable supply then VAT must be included.
Annual reporting – the company should have account reports of up to 10 years. An auditor should be appointed to review the accounts
Business activities in JAFZA Offshore
Insurance
Advisory
Banking
Consulting
Finances
Military
Advertising & Media
Publishing
Intellectual Property
Set Up a Business in Jafza Offshore
Licenses for a JAFZA Offshore Company
Holders of this license can import, store and distribute goods verified under JAFZA regulations
Holders can perform the same operations as a general trading license plus the benefit of exporting products
This license can import raw materials and manufacture products
Holders can carry out specific services permitted under the Economic Department or by the municipality
This license can hold manufacturing firms with a GCC national as the owner
RAKICC companies must be registered under RAKICC registered agents. These agents are the lawyers and corporate services providers.
The best way to find a registered agent is to communicate and exchange emails rather than paying them on the website. Offshore company registration is easy to process but getting a bank account can be challenging. At UAE Company Registration we consider bank accounts to be one of the company’s most important assets, therefore we make sure our client is getting a bank account with a dedicated and trusted relationship manager from the bank.
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