Jafza Offshore’s flexible and advanced rules of investment have contributed in creating a suitable environment that encourages many international companies to use Jafza Offshore as a springboard to reach their targeted markets. The massive logistic support base offered by Jafza also helps investors to move freely in borderless areas. Jafza Offshore was among several UAE institutions that participated in the forum, including the UAE Central Bank and the Sharjah Chamber of Commerce.
With the introduction of the Regulations for Jebel Ali Free Zone Offshore Companieson 15 January 2003, international business community can establish offshore entities at JAFZ, in line with other international offshore jurisdictions.
We will assist you to obtain a license and get your offshore company registered in the Jebel Ali Free Zone. A Jebel Ali offshore company is free to carry out any lawful activity other than banking or insurance business.
Setting up a Dubai offshore company or an off shore company in any other Emirate of UAE calls for excellent understanding of offshore jurisdiction laws. We help you avoid common mistakes while structuring your company and provide you all essential guidance and support for the offshore jurisdiction of your choice.
Salient Features for JAFZA Offshore:
- 100% foreign ownership
- Company can own real estate properties on Palm islands or any properties owned by Nakheel Company LLC or any other real estate properties approved by the Jebel Ali Free Zone Authority (JAFZA)
- Company can hold an account in a bank in the UAE for the purpose of conducting routine operational transactions.
- One residence visa will be issued for one director, if the Offshore Company is maintaining an office in the Free Zone.
- The Company will not be allowed to carry on business with people who are resident in the UAE or carry out any trade in the free zone or in the UAE, unless they have first obtained the appropriate license from the relevant competent authority.
- The registrar has the power to appoint competent inspectors to investigate the affairs of the offshore Company. Upon discretion of the registrar, inspection costs may be charged to any office bearer of the Company.
At Jafza Offshore, we set up a Branch of a Foreign Company with all crucial guidelines for efficient and smooth process.
How to Register
Characteristics of an offshore company registered in the JAFZA Zone are as follows:
SHAREHOLDERS
A minimum of one shareholder is required. Corporate shareholders are permitted. Shareholders will decide capital structure of the Company. No fiscal minimum capital requirements have been stipulated. Bearer shares are not permitted. Different classes of shares are not permitted and shares have to be fully paid when allotted. A shareholders meeting should be conducted periodically (at least once in a year). Every company shall maintain minutes of all proceedings at general meetings. The Register of Members shall be open for inspection by any member of the offshore company and any other person. If inspection is refused, the company commits an offence.
DIRECTORS
A minimum of two directors are required and corporate directors are not permitted. Details of Directors are not available for public inspection.
SECRETARY
Every Company shall have a secretary.
ANNUAL
Every Company shall keep accounting records.
ACCOUNTS and AUDIT
Shall be preserved for 10 years from the date on which, they are prepared. An offshore company s accounts shall be approved by the directors and signed by one of them.
TIMESCALE
Registration of the company in free zone will take approximately 7 working days.
RESTRICTIONS ON NAME AND ACTIVITY
Names must end with limited. Certain business sectors such as Banking, Insurance, Re-Insurance, Insurance Agency or Insurance brokerages etc. are closed for offshore companies.
LOCAL REQUIREMENTS
As a matter of local company law the company MUST maintain a registered office in the Free Zone and appoint an approved registered agent. A registered agent’s office in Dubai or in the free zone can also be used as the registered office.