What is a Jebel Ali Free Zone Offshore Company in UAE?
Incorporation of an offshore company in Jebel Ali Free zone – United Arab Emirates.
Basic Parameters:
License – JAFZ offshore company does not have a license. It only has a certificate of incorporation. It cannot conduct any business within UAE.
Office – Registered agent’s office is considered as a registered office for JAFZ offshore company.
Tax – No tax is levied on JAFZ offshore company
Trade Name – All names must be followed by suffix “Limited “. Names can be rejected where it is showing association with Media, Advertising, Insurance, Banking, Gambling, Military, Education or any other types of activities which authority might find restricted under their Authority.
Share Holder – One or more share holders are required which can be legal corporate entities or natural persons. All natural persons undergo security check conducted by UAE criminal investigation department. Subject to CID report and current immigration policies, certain individuals and nationalities can be barred from being acting as share holders or company officers.
Share Capital – The share capital is denominated in United Arab Emirates Dirham (AED). There is no minimum share capital amount requirement.
Directors – Two or more directors who must be natural persons are required. Share holder can also be director.
Secretary – One secretary is mandatory requirement and should be a natural person.
Registered Agent – All administrative work / Government fees / renewals with JAFZ offshore authority in relation to offshore company are conducted through the registered agent on behalf of share holders / directors / secretary.
Permitted Activities and Bank Account – JAFZ offshore company is not allowed to conduct any commercial activities within UAE. However commercial activities conducted outside UAE are allowed to be conducted. JAFZ offshore company is allowed to acquire freehold property located in Dubai subject to JAFZ authority approval and Dubai land department current policies. JAFZ offshore company can own shares in any main land or free zones Company in UAE as well as any overseas company. JAFZ offshore company can also open a bank account and secure loans/pledge shares subject to bank policies.
Flyingcolour business setup services assists clients in incorporating JAFZ offshore companies as a part of offering corporate structuring and our property brokerage division also assists in acquisition and registration of freehold properties on behalf of offshore companies.
For more information on any complex corporate structuring or property acquisition and registration, please contact author of this article Mr. Raj Herry on raj [at] flyingcolour [dot] com or 0097150 5585305
