Jebel Ali Offshore Company Formation: Process and Benefits
Jebel Ali offshore company formation is one of the most popular business setup options, not only in the UAE but in the whole world. Many businesses all across the globe come to Jebel Ali to start their respective companies here, but why?
That’s what we will answer in this article. Along with the benefits and unique selling points of Jebel Ali Free Zone, we will let you know about the business activities allowed here and the complete company formation process to you.
So, let’s start by knowing what exactly Jebel Ali offshore company is.
What is Jebel Ali Offshore Company?
A Jebel Ali offshore company is a legal business or entity that is registered in Jebel Ali but works outside its jurisdiction. For setting up an offshore company in Jebel Ali, you need one or more shareholders, who can be individuals, entities, or both.
Who Should Form a Jebel Ali Offshore Company?
Jebel Ali Free Zone is the perfect destination for entrepreneurs and established businesses who want to connect with the world through Dubai’s global market access with minimal cost, maximum tax benefits, and hassle-free starting.
What are The Business Activities Allowed in Jebel Ali Free Zone Offshore Companies?
Jebel Ali Offshore Companies are mostly engaged in five major activities, and if you wish to conduct one of these activities, it is the perfect option for you.
- International trade: Jebel Ali is well-connected with different parts of the world through prominent sea routes. This allows businesses to conduct international trade with ease.
- Formation of holding companies: You can create a holding company that allows you to buy/sell shares of other companies and get ownership control over them.
- Owning real estate: You can buy assets here and protect them from external entities. Besides that, you won’t need to pay annual property tax and capital gain tax. Even the rental revenue is tax-free.
- Registration of copyrights and patents: You can create your offshore company in Jebel Ali and protect your intellectual property, such as trademarks, patents, etc., by registering them.
- International consulting services: There are many professional service providers belonging to accounting, law, and various other domains. You can start your consulting services by setting up JAFZA offshore company.
What are The Benefits of JAFZA Offshore Company Formation?
There are numerous offshore companies that set up their business in JAFZA. That’s because of the exciting benefits that one can get from a few locations.
Let’s check each benefit in detail:
Hassle-free Business Setup
The best thing about JAFZA offshore company formation is doesn’t take much effort when you have the right agent by your side. The authorities are corporative, and when you fulfill the documents and payment requirements, they process the application without an issue.
100% Foreign Ownership
100% foreign ownership allows you to set up the business without the need to approach any individual or entity for a partnership. You can be the sole owner of the company even if you don’t operate in JAFZA jurisdiction.
Protection of Assets
By starting an Offshore company in JAFZA, you open the gates to buy real estate and intellectual property rights. The benefit lies in the fact that UAE legal framework provides protection to these assets and safeguards you from lawsuits in your company’s base country.
No Physical Office Required in JAFZA
You don’t need to get office premises to run an offshore business in JAFZA. It allows you to run a business without owning a place.
Minimal Operational and Administrative Cost
Unlike other places that allow offshore company formation, running a business in JAFZA is inexpensive due to the business-friendly environment and tax benefits.
Want to Start an Offshore Business in JAFZA?
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Process of Forming a JAFZA Offshore Company?
JAFZA offshore company formation process doesn’t allow you to fill out the application form directly. First, you must fill out your interest, and then JAFZA’s staff will contact you for further details.
Then, you have to contact a registered agent who will perform all the administrative requirements and deal with JAFZA, representing you.
Lastly, you need to submit the application, signed by you, along with the required documents.
What are the documents required for JAFZA Offshore Company Formation
Now, let’s discuss the documents required for JAFZA offshore company formation:
When Individual Applies for JAFZA Company Formation:
- Shareholder(s) personal profile
- Shareholder(s) Bank reference
- Shareholder(s) passport copy
- Shareholder(s) visa copy
- Shareholder(s) proof of residence
When the applicant is a corporate shareholder:
- Company’s certificate of incorporation
- Memorandum and Article of Association of the parent company
- Board Resolution
- Certificate of good standing
Company Setup in JAFZA Services by Business Setup HQ
Business Setup HQ provides a company setup service for JAFZA offshore. With our service, you only need to let us know your interest and the business activity you wish to perform. Then, we will contact the authorities on your behalf and do the complete company setup process.
First, we will let them know your business interests and then submit the application on your behalf. We will also help you arrange the required documents and make their submission.
After that, we will be there until your offshore company gets started in JAFZA. We can also provide assistance in finding office premises if required.
Jebel Ali Offshore Company: Frequently Asked Questions
It depends upon the company’s business interest, how much time it takes to arrange the document, and the processing time. Usually, it doesn’t take more than a week if everything goes smoothly.
You have to pay minimal costs to JAFZA and agent fees. However, the cost keeps on changing, decided by the relevant authorities.
JAFZA doesn’t provide a company license for offshore company formation, but you get a certification of incorporation when the business setup process gets completed.