Ingenious Corporate Services – Company Set-up in Dubai, United Arab Emirates
Jebel Ali Offshore Business Setup
Also called Non-Resident companies, offshore companies are favored by those entrepreneurs and investors who keep business confidentiality and asset protection above anything else. Such establishments are not allowed to perform business transactions in the UAE. Offshore companies need an Incorporation Certificate to initiate operations. Currently, there are three jurisdictions that offer Offshore Company formation in the UAE – Ajman, RAK (Rasal Al-Khaimah), and JAFZA (Jebel Ali Free Zone Authority). This page talks about the latter.
Jebel Ali Free Zone, fondly called (JAFZA) checks all the boxes if your heart is set on setting up an offshore business in the UAE. Jebel Ali Free Zone has something for everyone, from superior location and proximity to the sea and airports to a variety of business activities and facilities to accommodate them. The free zone’s journey from 19 companies in 1985 to 500+ businesses in 1995 to 8,700+ companies today itself is a dead giveaway of how fast the free zone is growing. We are happy to explain the process of starting an offshore company in JAFZA, one of the fastest-growing free zones in the MEASA region.
Important Characteristics of Offshore Companies in Dubai
Before registration of an offshore company in Dubai, you would want to know some significant aspects concerning offshore companies in Dubai. Here are they:
- Offshore companies are not authorized to carry out banking, insurance, and real estate businesses.
- UAE offshore companies are usually established to utilize the local banking services and 0% tax rate. However, these companies can have bank accounts anywhere in the world
- An offshore company can have a non-UAE resident also as a director. However, the manager (designated) must be a UAE resident.
- A UAE resident visa is not permissible.
- Physical office is not permitted for Offshore companies in the UAE.
- There’s no annual governmental audit.
- An offshore company is unauthorized to carry out business in Dubai Mainland.
- An Offshore company also can hold shares in other companies.
Types of Entities Formed Under JAFZA
Under the Jebel Ali free zone authority, foreign entities can select from a wide range of business activities. JAFZA grants all types of trade licenses bearing a validity of 1 year. The authority’s key business licenses include Trading Licence, Service Licence, Industrial, Logistics Licence, and E-commerce Licence. Opening doors to tons of opportunities in about 17 industries, including Logistics, Food & Agriculture, Retail & E-Commerce, Petrochemicals, Automotive & Spare Parts, Electronics & Electrical, FMCG, and Healthcare Distribution, JAFZA allows entrepreneurs to form an offshore company in addition to following types of companies:
Free Zone Company (FZC):
This is a limited liability company that is owned by one or more shareholders and can engage in trading, service, or manufacturing activities within JAFZA.
Free Zone Establishment (FZE)
This is a single-owner company that can engage in trading, service or manufacturing activities within JAFZA.
Types of Entities Formed Under JAFZA
Under the Jebel Ali free zone authority, foreign entities can select from a wide range of business activities. JAFZA grants all types of trade licenses bearing a validity of 1 year. The authority’s key business licenses include Trading Licence, Service Licence, Industrial, Logistics Licence, and E-commerce Licence. Opening doors to tons of opportunities in about 17 industries, including Logistics, Food & Agriculture, Retail & E-Commerce, Petrochemicals, Automotive & Spare Parts, Electronics & Electrical, FMCG, and Healthcare Distribution, JAFZA allows entrepreneurs to form an offshore company in addition to following types of companies:
Free Zone Company (FZC):
This is a limited liability company that is owned by one or more shareholders and can engage in trading, service, or manufacturing activities within JAFZA.
Free Zone Establishment (FZE)
This is a single-owner company that can engage in trading, service or manufacturing activities within JAFZA.
Branch Office
This is a foreign company that establishes a presence within JAFZA by setting up a branch office. Branch offices are not separate legal entities and are fully owned and controlled by the parent company.
Representative Office
This is a foreign company that establishes a presence within JAFZA by setting up a representative office. Representative offices are not allowed to carry out any commercial activities and are only permitted to carry out marketing and promotional activities on behalf of the parent company.
Holding Company
This is a company established within JAFZA to own and manage the assets of other companies. Holding companies are not allowed to engage in any commercial activities and are only permitted to hold and manage the assets of other companies.
Branch Office
This is a foreign company that establishes a presence within JAFZA by setting up a branch office. Branch offices are not separate legal entities and are fully owned and controlled by the parent company.
Representative Office
This is a foreign company that establishes a presence within JAFZA by setting up a representative office. Representative offices are not allowed to carry out any commercial activities and are only permitted to carry out marketing and promotional activities on behalf of the parent company.
Holding Company
This is a company established within JAFZA to own and manage the assets of other companies. Holding companies are not allowed to engage in any commercial activities and are only permitted to hold and manage the assets of other companies.
How to start a business with JAFZA?
A company registered under JAFZA right away becomes part of the international network of successful businesses worldwide. To set up an offshore company in Jebel Ali Free Zone, you will need to follow these steps:
- Select the name for your offshore company in Jebel Ali
- Fill out an application form
- Prepare the draft of the Memorandum of Association (MOA) and Articles of Association (AOA)
- Submit the required documents to the JAFZA
- Start a business account with a UAE bank
Please note that the selection of a registered agent is necessary to deal with JAFZA regarding all administrative work.
Necessary Paperwork for Offshore Company Formation in UAE
You must be ready with the following documents to complete the process of offshore company formation in Dubai:
- Application in the requisite format
- Business plan
- Curriculum Vitae indicating the owner’s professional data
- Address proofs
- Bank documents featuring the necessary details or bank reference letter
- Copies of passports of owner and shareholders
- Copy of passport of the designated manager
- Notarized Memorandum of Association (MOA)
Free Zone-Specific Benefits
Outfitted with a business-perfect environment to set up and scale a business in the UAE, JAFZ is an investors’ paradise, oozing with benefits more than any other free zone in the UAE can offer. The premium spot decked up with all the amenities required to nurture a small budding business into a successful giant entity, JAFZA offers a wide range of benefits as well, such as:
- 100% foreign ownership
- 100% capital repatriation
- 0% corporate tax for 50 years with renewable concession
- 0% personal income tax
- 0% import or re-export duties
- Zero restriction on currency exchange
- No minimum capital requirements
- Ability to purchase real estate
- Efficient regulatory environment
- Proximity to major airports and ports
- Effortless & quick business setup
- International recognition
- World-class regulatory environment and infrastructure
Free Zone-Specific Benefits
Outfitted with a business-perfect environment to set up and scale a business in the UAE, JAFZ is an investors’ paradise, oozing with benefits more than any other free zone in the UAE can offer. The premium spot decked up with all the amenities required to nurture a small budding business into a successful giant entity, JAFZA offers a wide range of benefits as well, such as:
- 100% foreign ownership
- 100% capital repatriation
- 0% corporate tax for 50 years with renewable concession
- 0% personal income tax
- 0% import or re-export duties
- Zero restriction on currency exchange
- No minimum capital requirements
- Ability to purchase real estate
- Efficient regulatory environment
- Proximity to major airports and ports
- Effortless & quick business setup
- International recognition
- World-class regulatory environment and infrastructure
Meet Your JAFZA Business Setup Specialist in Dubai
Home to qualified and experienced business setup consultants in Dubai, Ingenious Corporate Services in Dubai is a one-stop shop for all your business needs anywhere in the UAE. From obtaining approvals from relevant authorities to applying for the appropriate trade license from scratch to getting the business up and running, we take care of all the aspects of your business setup project. With our business setup advisors by your side, you will only get what’s best for you and decide what’s right for your business. To know more about how we can help you register your offshore company under JAFZA, you may book an online meeting with our offshore company formation specialist in Dubai by clicking here.
Meet Your JAFZA Business Setup Specialist in Dubai
Home to qualified and experienced business setup consultants in Dubai, Ingenious Corporate Services in Dubai is a one-stop shop for all your business needs anywhere in the UAE. From obtaining approvals from relevant authorities to applying for the appropriate trade license from scratch to getting the business up and running, we take care of all the aspects of your business setup project. With our business setup advisors by your side, you will only get what’s best for you and decide what’s right for your business. To know more about how we can help you register your offshore company under JAFZA, you may book an online meeting with our offshore company formation specialist in Dubai by clicking here.
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