Be a Part of Dubai Offshore - One of the Fastest Growing Business Hubs in the Middle East!
Dubai Offshore Company - At a Glance
In 2003, the Jebel Ali Free Zone Authority (JAFZA) introduced the establishment of offshore companies in Jebel Ali Free Zone in the Emirate of Dubai, under the Jebel Ali Free Zone Offshore Companies Regulations. This permitted international business community to launch offshore entities in Dubai and Jebel Ali Offshore, as per the international offshore regulations.
These jurisdictions were outlined so as to allow efficiency and ease in global offshore locations and enable non-resident companies to have a corporate legal entity, of high repute with international financial authorities.
Why Opt For Dubai Offshore Company Formation?
Offshore company incorporation in Dubai, one of the fastest growing investment hubs in the United Arab Emirates, is dream come true for foreign investors due to its uniqueness, overseas status, tax exemptions, liberal government laws and policies, and political and economic stability of the jurisdiction.
Other than these, there are multiple reasons why investors throng to set up an offshore company in Dubai, these are:
- Asset Protection
- Complete anonymity, confidentiality, and privacy in operations
- Ease of business operations and control
- Exemption from all kinds of local taxes (personal, corporate, professional)
- Profit Maximization and tax minimization
- No requirement to fill audit reports
- No Minimum capital requirement
- Protection of investments
JAFZA Offshore Company Formation
As mentioned earlier, the Jebel Ali Free Zone Authority permitted the formation of special status offshore companies or non-resident companies in Dubai, having a corporate legal entity with individuals or corporate bodies as shareholders.
Features and Regulations of Jebel Ali offshore
Regulations have been framed by the Jebel Ali free zone authority to deliver the convenience and efficiency of global offshore locations to the business owners investing in Dubai offshore, but at the same time maintain a high repute with international financial authorities, which have acted as a very critical determinant in taking the Dubai offshore on the path to success.
- An offshore company has the capacity and privileges of a natural person
- No minimum capital required
- All shares must be fully paid when allocated, and no bearer shares or differential classes of shares are allowed
- There is no requirement to deposit the capital in the bank
- The minimum number of Directors shall be two. Every offshore company should have a Secretary (a UAE resident) who may also be a Director of the company
- 100% foreign ownership is permitted
- An efficient regulatory regime with a total exemption on taxes and duty
- Flexibility to open a corporate bank account in Dubai
- A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by JAFZA / Dubai. Commitbiz is an approved registered agent for Dubai offshore company formation
- The Offshore domicile is located in the Jebel Ali Free Zone (JAFZ)
What Makes Jebel Ali Offshore Unique?
- UAE and Dubai has Double Taxation Avoidance Agreements (DTAA) with over 40 countries
- UAE is not an overseas territory or dependent on any other country
- Law allows offshore company owners to own or hold an interest in properties in Dubai
Shareholding and Directorship
- One shareholder is required at a minimum
- Two Directors are required at a minimum
Following restrictions are levied on any company registered in JAFZA Offshore or Dubai Offshore :
- No Dubai Offshore company or JAFZA Offshore company shall conduct business with UAE residents
- No Dubai Offshore company or JAFZA Offshore company shall indulge in the banking business
- No Dubai Offshore company or JAFZA Offshore company shall conduct insurance related business(as an insurance broker, reinsurance or insurance company or insurance agent)
Limitations of Dubai Offshore
- Bearer shares are NOT permitted
- The company cannot rent local premises
- The company cannot carry on business activities like banking, insurance, consultancy, advertising etc.
- The shareholders should visit JAFZ / Dubai physically
What are the prerequisites for an offshore company in Dubai?
|Shareholders' visit to the authority||Required|
|Minimum number of shareholders||1|
|Minimum number of directors||2|
|A UAE resident secretary||Required|
|Minimum capital requirement||The capital of the company can be any amount and in any denomination|
|Capital deposit in the bank||Not required|
|Name suffix||'Limited' (e.g., ABC Holding Limited)|
|Repatriation of profit||Possible|
|Documents required (Individual shareholding)||
The time required to start a Dubai offshore company is 6-7 working days (approx.), on completion of documentation.
Commitbiz for Dubai Offshore Company Formation
Commitbiz is a registered company that has been facilitating offshore company set up in Dubai jurisdiction for global entrepreneurs. We study the business requirements of our clients and suggest them to proceed with offshore company incorporation in Dubai if it seems ideal for their international business needs. Our business development team ensures that our clients' assets are fully protected with free money repatriation and nil taxation, and work towards limiting their liabilities and ascertaining their business growth.
Extensive domain expertise helps us to understand the unique needs of our clients and provide them a trouble-free and customer-friendly working environment. We act as the registered agent for our clients in JAFZA / Dubai, and help them with:
- Availing business incorporation certificate
- Filing with the registrar of companies
- Opening multi-currency bank account
- Preparing Memorandum and Articles of Association and Registration Forms
- Registering the office facility in Dubai with PO Box
- Renewing license
We handle legal and documentation formalities, provide strategic business inputs and provide state-of-the-art amenities, and take care of your offshore company formation in Dubai from start to finish for your unhindered business growth. Contact us for your offshore company setup requirements in JAFZA or Dubai; our team will be glad to assist you.