JAFZA Offshore Company Formation
Planning to set up an offshore company in Jebel Ali? Supreme Services makes JAFZA offshore company formation seamless and successful. Enjoy expert guidance, streamlined processes, customized solutions, and end-to-end support. Get in touch with us today!
JAFZA Offshore Company Formation
Offshore Company in JAFZA
Thinking about starting an offshore company in Jebel Ali?
JAFZA, one of the UAE’s premier and fastest-growing free trade zones, is home to over 7,000 companies, including 120 Fortune Global 500 enterprises. Strategically located between Dubai and Abu Dhabi, JAFZA offers unparalleled logistical advantages with the world’s largest man-made sea port, state-of-the-art infrastructure, and an elite client base.
Since 2003, JAFZA has facilitated offshore company formation under its regulations, providing a streamlined process for individuals and businesses to establish offshore entities effortlessly.
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Types of JAFZA Offshore Companies
JAFZA provides a range of offshore company options to meet diverse business needs, including:
Investment Company
Joint Investment Company
Trading Company
Offshore Entity for Holding Property and Assets
Holding Company
Shipping Management Company
Copyright/Patent Company
UAE Free Zone Company Formation
Considerations for Free Zone Companies
Types of Licenses in Free Zones
Dubai’s free zones offer a variety of business licenses, each tailored to different commercial activities and providing unique incentives:
Trading License: Enables businesses to engage in import, export, and trade of specified commodities within and outside the UAE.
General Trading License: Allows trading in a broad range of goods, with some exceptions that require special approvals, offering greater flexibility for businesses.
Professional License: Suitable for individuals or companies providing professional services like consultancy or training, relying on intellectual expertise.
Industrial License: Essential for manufacturing units involved in activities like manufacturing, packaging, and processing, facilitating the establishment of production facilities.
Choosing the right license is crucial for aligning with specific business needs and achieving long-term objectives in Dubai’s free zones.
Overview of JAFZA Offshore Company Setup
Benefits of Offshore Companies
What are the benefits of offshore companies in JAFZA?
Here are the key advantages of owning an offshore company in JAFZA:
Pay only corporate taxes; no VAT.
100% foreign ownership allowed.
No restrictions on capital and profit repatriation.
No need for office space to start an offshore company.
No requirement for minority capital.
Safe and secure environment for investments and assets.
Ability to own property in certain areas.
Allowed to hold shares in UAE free zone companies and LLCs.
Legal entity for conducting genuine business: This makes it easy to conduct business not only in the Middle East but also outside the UAE.
Benefits from the positive image of JAFZA as an international trade and manufacturing hub: JAFZA’s reputation enhances your company’s credibility.
Only offshore companies registered in JAFZA can own property, not in individual names or through UAE companies: This provides exclusive ownership benefits.
Ability to hold multiple currency bank accounts in the UAE.
Easy and simple company registration process.
Assistance with banking, insurance, visas, accounting, legal matters, feasibility studies, and more.
Opening a Bank Account for Jebel Ali Offshore Companies
Supreme Services: Opening a JAFZA Offshore Company Bank Account
Supreme Services offers simple and ready assistance to start a Jebel Ali Offshore Company, ensuring a smooth path to success. Jebel Ali Free Zone (JAFZA) is a major industrial hub, home to over 7,000 companies and more than 120 Fortune Global 500 companies. As one of the largest and fastest-growing free zones in the UAE, JAFZA offers unparalleled infrastructure and a superior client base.
Since 2003, JAFZA has allowed the establishment of offshore companies under the Jebel Ali Free Zone Offshore Companies Regulations, welcoming individuals and entities to easily set up offshore ventures. Various types of offshore companies can be registered in JAFZA, such as investment companies, joint venture companies, trading establishments, and entities for holding assets.
Opening a Bank Account for Jebel Ali Offshore Companies
Supreme Services: Opening a JAFZA Offshore Company Bank Account
Supreme Services offers simple and ready assistance to start a Jebel Ali Offshore Company, ensuring a smooth path to success. Jebel Ali Free Zone (JAFZA) is a major industrial hub, home to over 7,000 companies and more than 120 Fortune Global 500 companies. As one of the largest and fastest-growing free zones in the UAE, JAFZA offers unparalleled infrastructure and a superior client base.
Since 2003, JAFZA has allowed the establishment of offshore companies under the Jebel Ali Free Zone Offshore Companies Regulations, welcoming individuals and entities to easily set up offshore ventures. Various types of offshore companies can be registered in JAFZA, such as investment companies, joint venture companies, trading establishments, and entities for holding assets.
Key Characteristics of JAFZA Offshore Companies
What are the key features of a JAFZA Offshore Company?
The primary characteristics of Jebel Ali (JAFZA) Offshore Companies are:
Company Status: Limited Liability
Shareholders: Minimum of 1; no maximum limit
Directors: Minimum of 2
Name Suffix: Limited
Capital Structure: Determined by the shareholders
Shares:
Must be fully paid at the time of allotment
Bearer shares are not permitted
All shares must be of the same class
Management and Administration: Must have a registered agent recognized by JAFZA
Office Space: The registered office of the JAFZA Offshore Company will be that of its registered agent. The registered office can be located in JAFZA or Dubai.
Secretary: A secretary must be appointed
Licensing: A JAFZA Offshore Company does not start with a license (it’s just an incorporation certificate).
Registration Process of a JAFZA Offshore Company
Step-by-Step Process to Establish an Offshore Company in Jebel Ali:
1. Individuals, groups of individuals, or companies can establish offshore entities.
2. Contact a trusted JAFZA-approved agent in Dubai.
3. Submit an application to the JAFZA Registrar for incorporating a limited liability offshore company.
4. The operations of the offshore entity will be governed by JAFZA regulations.
5. The JAFZA Offshore Executive will personally verify the application and required documents of the shareholders. Necessary details include:
•Company name ending with “Limited”
•Registered office address
•Proposed share capital and its distribution
•Names and addresses of the founders
•Articles of Association
•Other documents and explanations as required by the officer.
6. Registrar Approval: If satisfied with the application and associated documents, the Registrar will grant approval for the registration of the offshore company and register the company’s articles.
7. Incorporation Certificate: The Registrar will issue an incorporation certificate to the offshore company and assign a unique registration number.
Incorporation Certificate for a JAFZA Offshore Business
An Incorporation Certificate is an essential document for a JAFZA offshore company. Here’s why:
It serves as primary evidence that the offshore entity has been legally established.
The certificate includes crucial information such as the date of incorporation and a unique identification number.
It confirms that the company has adhered to all necessary registration procedures mandated by JAFZA’s offshore company laws.
Articles of Association of Jaffza Offshore Company
How important are the Articles of Association (AOA) of a Jaffza offshore entity?
These Articles of Association outline the regulations for an offshore company in the UAE.
• Conditions for the transfer of shares
• Holding at least one general meeting of the offshore company per year
• Maintenance of accounts and their presentation at annual general meetings
• The accounts of the offshore company must be audited at least once a year, specifying the audit date and the appointment of the auditor
• The minimum number of members required to form a quorum at general meetings of the offshore company
Activities that an offshore company in JAFZA can undertake on mainland
What activities can an offshore company in JAFZA carry out on the mainland?
If an offshore company wishes to trade or conduct other business activities in Jebel Ali Free Zone or any other location in the UAE, it must obtain a professional license with permission from JAFZA. Only then can an offshore company in JAFZA operate on the UAE mainland.
With permission, an offshore company in JAFZA can carry out the following activities for onshore operations in the UAE:
• Conducting business with individuals residing in the UAE
• Owning real estate in the UAE, i.e. for which it does not have the necessary government approval
• Conducting banking or financial business
• Trading as an insurance or reinsurance company, insurance agent or insurance broker
• Conducting any other business activities that are prohibited by the JAFZA authority and the UAE government
Registered agent for a JAFZA offshore company
The conditions for registered agents of an offshore company in JAFZA are as follows:
• No one can act as a registered agent without the appropriate approval of JAFZA.
• The registered agent must always be present in JAFZA or Dubai.
• The registrar maintains a register of approved agents.
• If there is a need to change the registered agent(s) of an offshore entity in JAFZA, the registrar must be notified accordingly.
Documentary Requirements for the Registration of JAFZA Offshore Entity
Here are the requirements for registering an offshore company in Jebel Ali:
Requirements for Individual Applicants:
• Passport copies of the shareholder or shareholders
• CV of the shareholder(s)
• Proof of Residence in the form of utility bills or credit card bills
• Valid Visa copy
• Bank Reference Letter
Criteria for Corporate Shareholders:
• Memorandum of Association (MOA) and Articles of Association (AOA) of the original company
• Certificate of Incorporation
• Power of Attorney
• Board Resolution
• Certificate of Credit Worthiness
Note: The UAE Embassy must attest and certify all the documents.
