Dubai Offshore
Company Formation
In UAE, offshore companies enjoy a unique tax refuge. Many governments offer tax breaks and safeguard high-net-worth people’s assets and financial data. Companies can incorporate offshore companies in Dubai since it is the safest place for international business. In 2003, the Jebel Ali Free Zone Authority (JAFZA) proposed the facility of offshore companies in Jebel Ali Free Zone in Dubai. This allows the International businessmen to launch their own offshore companies under JAFZA Rules & Regulations. So, with JAFZA/Dubai offshore company formation, it is possible to have simple access to the Middle East beyond the UAE.
Why Dubai Offshore Company Formation?
Offshore company in Dubai is a dream of businessmen which came true. An offshore company provides businessmen with many benefits such as tax liberation, secure investments, 100% ownership, and money management.
Other than these, there are multiple reasons why investors wish to set up an offshore company in Dubai, these are:
- Asset Protection
- Complete confidentiality, and privacy in operations
- Ease of business operations and control
- Immunity from all kinds of local taxes
- Profit Maximization and tax minimization
- No requirement to fill audit reports
- No Minimum capital requirement
- Protection of investments
- Flexible to open a corporate bank account in Dubai
- Simple business set up
- 100% capital and profit returns
- Cost-effective company formation
- Not required to submit financial reports
JAFZA Offshore company formation in Dubai will be a wise decision by non-residents of UAE / Dubai. The owner may be an individual or corporate shareholder. The owner must have a legal corporate License issued by the DED. There are several steps involved in JAFZA Offshore company setup. They are as follows:
- Copy of a valid passport
- Attested or original address-verification documentation
- Company name suggestions(minimum 3 names)
- Business description
- You must provide additional paperwork if one of your offshore company’s shareholders is a corporation.
- Corporate Certificate or equivalent
- Certified copy of MOAA and Article of Association
- Reference letter from the bank
- There should be a unique name, not the same as or too similar to a name that is already in the Company Registry;
- Avoid names with banned or restricted terms.
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Rules and Regulations of JAFZA / Dubai Offshore Company
- An offshore company has the capacity and benefits of a natural person
- The minimum number of Directors shall be two.
- A registered business setup consultant is required to be appointed by the Company from the approved list of registered agents maintained by JAFZA / Dubai.
- One shareholder is required at a minimum
- A UAE resident secretary required
- Capital deposit in the bank is not required
- Dubai 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
- Bearer shares are not permitted
- The company cannot rent local premises
- Business activities like banking, insurance, consultancy, advertising, etc. are not allowed as offshore companies.
- The physical presence of the shareholders is mandatory in JAFZA
Start your Offshore company in JAFZA with Booming Bytes
We are expert business setup consultants in the field of offshore company setup. We can provide you with excellent services cost-effectively. For hassle-free business setup, contact us immediately and start your business in JAFZA offshore.