Why is JAFZA Offshore most popular among investors?

by Zaara 17, Oct 2016

Why is JAFZA Offshore most popular among investors?

The Jebel Ali Free Zone or JAFZA is one of the fastest growing free zones in UAE which is located to the west of Dubai, near Abu Dhabi… It has its own set of rules and regulations and was created for the sole purpose of attracting foreign investment.

JAFZA is very popular among investors to do business because of the multiple advantages it offers.

  • Once you register your company in JAFZA, the company has a legal status for carrying on bonafide business and it enables easy conduction of business within the Middle East
  • JAFZA offshore is popular as a serious global hub for trading and manufacturing and it brings in the positive reputation for adding more business
  • If you are an offshore company registered in JAFZA, you can own property in your individual name or through a company based in UAE
  • It is easier to open bank accounts in Dubai for offshore companies registered in JAFZA
  • Companies registered in JAFZA enjoy a tax-free regime, and there is no restriction on repatriating capital and profit generated from the business
  • Easy to conduct banking, insurance, accounting, legal matters, feasibility studies as assistance is available

Offshore companies in JAFZA are non-resident companies enjoy a special status and are formed under the JAFZA Offshore Companies Regulations. Depending on the number of shareholders are involved, and the nature of the business, there are three different types of businesses that can be set up:

  • A Single Shareholder Company
  • Multiple Shareholder Company
  • Subsidiary Company

Having established credentials of JAFZA as a great place to do business, the business owners need to follow the documentation process to set up a business there:

  • Application form
  • Passports copy of each individual (Share Holders and Managers)
  • Utility bill of each shareholder (from the country of residence)
  • Bank reference for each individual

These are the steps for offshore company registration in the Jebel Ali Free Zone:

  1. You need to contact a reliable JAFZA authorized agent for the registration process
  2. Get an official quote for the scope of work you need, like registration, nominee services, opening bank accounts, any specific attestations required
  3. Submit three names for the company out of which one will be finalized by the authorities
  4. Decide upon the activities of your business – property investment, consultancy, trade, or acting as a holding company
  5. Determine the share capital
  6. Finalize the list of shareholders, a minimum of 2 directors, and secretary
  7. Submit the mandatory documents, like passport copy, address proof, a reference from bank and shareholders’ resume.

JAFZA is a place blooming with opportunities for businesses, new and old, it still requires adherence to laws of the land and the cost of non-compliance is heavy. It’s best to work with experienced consultants like us who will help you every step along the way to get your business up and running in JAFZA in no time.

Do contact us today to get the assistance.

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