A shelf company is a legal entity that is already registered with the government, and one has to purchase the company directly. Registration is not required for shelf companies, and therefore, sometimes, it is called readymade shelf companies. JAFZA, Jebel Ali Free Zone Authority, is the only offshore entity in Dubai growing as a business hub, contributing 24% of the total FDI flow to the emirate. The governmental rules and legislations attract business investors to start their offshore companies.
The shelf company in Dubai is readily available for offshore company formation if one wants to avoid the registration procedure. Minimum formalities are required for offshore shelf company purchases in JAFZA. This guide will cover the important aspects of the JAFZA shelf company if you have time constraints.
Offshore Shelf Company in JAFZA
There are quite extensive shelf companies available in JAFZA, Dubai. JAFZA shelf company verification is essential before buying one. Checking the background of the company and its history is important before buying one. Dubai Companies Register has all the names of shelf companies in JAFZA. The shelf company must have a credit and financial history, which might be helpful for buying an offshore shelf company in JAFZA. JAFZA offshore company formation comes under the Jebel Ali Free Zone Authority. The free zone has strategic company objectives for offshore shelf company registration. The Jebel Ali Free Zone holds only offshore vehicles and is licensed to hold or own only real estate in the emirate regarding offshore company formation.
The Benefits of JAFZA Shelf Company
Offshore shelf company in Dubai come with numerous advantages, which are as follows:
- JAFZA shelf company saves corporation time since it does not require any registration process.
- One can avoid the expenses of a new offshore company formation in JAFZA.
- No corporate tax.
- 100% company ownership with capital and profit repatriation.
- High privacy and confidentiality level is maintained.
- Availability of virtual offices in Dubai.
- Availability of multi-currency international bank accounts.
- The business becomes more accessible since the shelf companies already have banking relations, credit access, and investment capital.
- The buying time for the JAFZA shelf company is less compared to the incorporation of a new offshore company.
What Changes can be made in an Offshore Shelf Company in Dubai?
One can make the following changes in a JAFZA shelf company which the new owner must be aware of:
- Drafting the AOA (Articles of Association) is a necessary change one has to make. Mention the new shareholders' and directors' names in the document.
- Check if you need to obtain the necessary business license for the Dubai shelf company.
- Changing the trade name for the new shelf company is also a viable option for the new shelf company in Dubai.
- All the changes must be informed and registered at the Trade Register in Dubai.
How to Buy an Offshore Shelf Company in Dubai?
Buying a JAFZA shelf company is not a challenging job. Therefore it is advisable that you contact any business advisors to select a suitable one for you. Here are the steps included in buying an offshore shelf company in JAFZA:
- Select the Company Structure
In the first step, finalize one legal entity for the offshore shelf company in Dubai. The structure for a shelf company can be many such as an International Business Company (IBC), Limited Liability Company (LLC), Limited Liability Partnership (LLP), etc. There are public or private partnership shelf companies in Dubai from which one can choose one for their offshore business.
Contact any Business Consultancy
It is better to go ahead with any business consultancies to buy any offshore shelf company in JAFZA since you have to understand the process and do the background research, which is impossible for a business investor or an entrepreneur being an ex-pat. You have to maintain the due diligence of the shelf company before buying one in Dubai. Business Setup Worldwide can assist you in this process. We make sure that our client gets personalized solutions for their business needs. We have years of experience and accessibility from where we can check the shelf company's financial background and provide you with correct information.
Make the Necessary Changes
Once you buy the JAFZA shelf company, it is time for you to make certain changes. You can change the company name according to your business and prepare the AOA mentioning the shareholders' and directors' names. Obtain the license if you need one. You can always talk to our experts regarding all these issues and make adequate changes. Take their legal advice while doing all the paperwork.
Prepare the Documents
You must submit all the required documents to buy a JAFZA shelf company. If you buy from any shelf company, you have to submit personal identification documents (KYC documents of the shareholder if it is an individual shareholder) such as passport copies of the director and shareholders, etc. You can submit all the documents to our business experts, and we can proceed with the next steps for buying one shelf company in JAFZA.
Register In Front of the Notary
Once you buy the JAFZA shelf company for offshore business, you must register the business in front of the company registry. Once you pass the registration process, your offshore shelf company is ready to start the business activities.
How Can We Help?
Buying a JAFZA shelf company might be a task for any business investor. Shelf Company in Dubai is appropriate for those who are looking to avoid the whole new company registration procedure. Therefore you might need some business experts who know well about the emirate and understand the legalities of a shelf company in Dubai. Business Setup Worldwide is one business setup consultancy in the UAE with business experts. We have our legal team who hold extensive knowledge about the JAFZA offshore legislations, and they can assist you in finding the right shelf company for you to buy. Contact us for any further information.