Jebel Ali Free Zone, or JAFZA, is Dubai’s largest free zone that allows entrepreneurs to set up an offshore company. This free zone, governed by Jebel Ali Free Zone Authority, is a popular choice among various entrepreneurs as it provides an environment tailored for business growth. If you are contemplating establishing your business in the free zone, then understanding the advantages of JAFZA offshore company formation is essential. Read this blog to get a better understanding.
Back to topWhat are the Benefits of JAFZA Offshore Company Formation?
When deciding on a JAFZA offshore company, it is important to explore the advantages of JAFZA offshore company formation. Let us take a look at them:
Complete Foreign Ownership
For setting up a freezone or offshore company in Jebel Ali free zone, entrepreneurs can enjoy complete foreign ownership and repatriation of capital. You need to opt for a business structure as per the business objectives. This can help with determining ownership, responsibilities, and liability, among others.
Streamlined Business Incorporation
A JAFZA offshore company formation is quite simple. There are specific authorities that handle the involved procedures to ensure hassle-free business registration within two weeks.
Full Repatriation of Profits Allowed
Company formation in JAFZA enables you to transfer the entire profit back to the home country. This flexibility allows companies to conduct international business operations in a hassle-free manner.
Choice of Licenses
You can opt among a number of licenses when setting up a JAFZA offshore company. It includes trade, industrial, general trading, service, and e-commerce licenses. The legal document enables you to engage in a number of business activities.
Tax Incentives
Saving up on taxes is a major advantage as it allows businesses to reinvest their profits for business expansion. Companies established in JAFZA are exempt from corporate and personal tax, while VAT of 5 per cent is imposed.
Asset Protection
As a business owner, it is crucial to protect assets from creditors. By setting up a business in JAFZA, you can benefit from asset protection regulations. It enables you to keep personal assets separate from business liabilities, providing added security against potential claims or financial risks.
Back to topHow Can We Help?
The team at Commitbiz has assisted over 10,000 entrepreneurs in establishing their businesses in the Middle East. Given our experience, we can ensure smooth company registration in JAFZA. Our business advisors can guide you with documentation and the process of availing a license. Contact us to learn more about the advantages of JAFZA offshore company formation.
Back to topWhat is the scenario of complete ownership on offshore company incorporation?
When it comes to sharing the ownership of a company, many times, it might create a sense of doubt. Well, this scenario gets completely exempted when it comes to incorporating an offshore business entity.
Why is setting up an offshore company a simplified process?
In today's world of the internet, setting up an offshore company has become much easier due to the rise in technology. One of the overlooked aspects during offshore registration is the electronic filing of certain business documents and compliance.
Why do many people choose offshore banking ?
Many people choose offshore banking because it allows them to legally move assets between countries without disclosing the location of their assets.
What is asset protection?
Asset protection is a component of financial planning intended to protect your assets from bankruptcy.
What are the three types of businesses that can be set up in JAFZA?
The three types are as follows:
A Single Shareholder Company
Multiple Shareholder Company
Subsidiary Company.
