Offshore company setup JAFZA: Everything you need to know
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In terms of operations, an offshore firm differs significantly from a free zone corporation. An offshore corporation is a legal business organization formed to operate outside of its registration jurisdiction or the location of its ultimate ownership. JAFZA Offshore Company Formation is a better option to get flourished in UAE. In this blog, we will cover some essential information on the offshore company setup in JAFZA.
Offshore company setup JAFZA
- An offshore business in Dubai presents a positive image to customers, suppliers, and potential investors. Especially when compared to other business forms in Dubai, the establishment of a Dubai Offshore Company is rapid and straightforward.
- Jebel Ali Free Zone (Jafza) is the world’s largest free trade zone that welcomes many investors to build their dreams.
- There must be at least one shareholder for an offshore company to get established in Jafza. For this sort of creation, there is no limitation on the maximum number of stockholders. A shareholder may be an individual (person), a legal entity (business), or a combination of both.
Offshore Company Formation Benefits
- The offshore firm may have 100% foreign ownership.
- A citizen of the UAE is not required to be a shareholder or sponsor.
- A company may own real estate on the Palm Islands or in any other area that the JAFZA has permitted
- There is no publicly accessible register of corporate officers. While registering a firm, there is no need to reveal the name.
- Maintain several currency bank accounts.
- The company is not required to keep records/books.
- Current offshore laws.
- Taxes on corporate and individual income will not apply to the offshore entity.
- There are no limitations on foreign currencies.
- The profits and money of offshore companies are fully repatriated.
- Since there is no need for an onshore office, there are no staff and associated expenses.
- It is lawful to avoid paying some taxes on income and earnings.
- Setting up an offshore company only requires a minimum amount of cash.
- One shareholder or director.
What are the requirements for establishing an offshore company?
- Only a certificate of incorporation is granted to a Jafza offshore company, not a business license. This means that the offshore business cannot engage in any commercial business with residents of the UAE
- The formation of an offshore company in Jafza must begin with selecting a registered agent. This registered agent will be in charge of all administrative tasks relating to Jafza operations.
- Once you have expressed your interest and chosen a registered agent, the registered agent must handle any communications on behalf of the firm.
- Jafza reserves the right to request any further paperwork it considers necessary.
Different types of Company structures for an offshore business in Dubai
- Investments or Joint Investments Company
- General Trading
- Holding Company
- Shipping or Ship Management Firm.
- Owning a property
- Copyright or patent firm
A registered agent must be present when an offshore company is established. The agent will need to get located in the UAE. HLB HAMT is a registered agency with JAFZA Offshore and one of the market leaders in offshore business consulting. We offer incorporation services in the UAE’s most prominent offshore centers and offer the best options to ensure that your firm is set up as quickly as possible.
What HLB HAMT Offer!
- Registered representative.
- Making Articles of Association and Memorandum.
- Creation of registration forms.
- Preparation of the Certificate of Incorporation.
- Helping to open a multi-currency bank account.
- Filing with the Companies Registrar.
The broad expertise of HLB HAMT, combined with the in-depth local knowledge of our team, allows us to fully comprehend the specific requirements of your business. This allows us to provide the best options, and ensure that your business is established with the least amount of effort and hassle.
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