The United Arab Emirates has been one of the fastest-growing economies of the world. Starting from the tallest building in the world (Burj Khalifa) to the artificial archipelago (Palm Jumeirah), the location has been establishing itself as one of the top tourist destinations.
As the nation progresses on attracting global tourists on one end, the Government has also been focusing on attracting global investors by providing the best business environment.
It is a well-known fact that the offshore industry has been leaving its footprints all over the world, and has been one of the demanding grounds among investors and high-net-worth individuals. Today, most of the nations have converted themselves into one of the popular offshore jurisdictions.
The UAE Government has also been upscaling the offshore zones to provide the best offshore platform for future investments.
The Jebel Ali Free Zone is one such essential tax-haven jurisdiction that helps the business investors to come forward and invest in.
If you are planning to invest in the offshore business, you can go forward with Dubai Offshore. This guide outlines the essentials that you need to know before Dubai Offshore Company Formation.
An Introduction to JAFZA
The Jebel Ali Free Zone is one of the oldest and reputed platforms in the United Arab Emirates when it comes to offshore incorporation. Located in the Western End of Dubai, Dubai Offshore (JAFZA) commenced its business operations in the year 1985, intending to provide the best business environment to the business owners and investors.
It allows business investors to trade internationally and establish an offshore firm with minimum requirements. Multiple reasons provoke business investors to incorporate a business entity in JAFZA. Here’s a guide on the Top Five Reasons to Start a Business in JAFZA.
The formation of an offshore company in JAFZA must follow the guidelines of Jebel Ali Free Zone Offshore Companies Regulations 2018.
Essential Requirements to Start an Offshore Company In JAFZA
To start an offshore company in JAFZA, one has to fulfil the following essentials:
- The dedicated company name should be provided, which must end with the word “Limited.”
- The registered address of the offshore company
- The nature of the business that needs to be conducted
- The amount of share capital along with the number of shares
- The complete name and address details of the shareholders
- The offshore company’s memorandum and articles of association
These documents are to be handed over to the Registry, and upon the scrutiny process, the Registry might accept or refuse the same.
In case of acceptance, the company’s articles of association will be registered under Regulation 5.
In case of rejection, the registrar is not bound to state the core reason behind his refusal.
Advantages of Starting an Offshore Company In JAFZA
Business owners and investors prefer to proceed ahead with offshore company formation in JAFZA due to the various benefits that the region provides. Some of them include:
- High-end asset protection
- Complete anonymity and confidentiality
- Ease in the business operations and control
- Complete exemptions when it comes to taxes
- High-end profit maximization
- No requirement to deal with accounting and audit requirements
- No minimum capital to start an offshore business
- Flexibility to invest in the international market
- High-end protection of investments
Thus, you have seen the different benefits that JAFZA offers when it comes to offshore company formation.
Now, proceeding with the investments might turn out to be a tough job, if one is not well-versed with the relevant process.
To avoid any kind of confusion or error, most business investors and high-net-worth individuals prefer to proceed with the expert’s guidance.
Having a helping hand simplifies the business process to a great extent. Here’s a guide on the Core Reasons for Hiring an Offshore Business Consultant.
Business Setup Worldwide has been standing as one of the best business consultants in Dubai who has been continuously helping the business owners to kick-start their business in the onshore and offshore jurisdictions (Here’s the difference between onshore and offshore companies).
Our business advisors hold an in-depth knowledge of the incorporation process and can assist you in a hassle-free way.
To start your offshore company in JAFZA, feel free to have a word with our experts.
Contact us today-we’d be glad to assist.