There are a lot of offshore companies in UAE. For the continuous demand, offshore has been widely known and offshore company formation services are everywhere in the country. Next thing you know, offshore license in UAE is rampant as well.
But what is an offshore company? To be brief, it’s a company that is under the laws of another country instead of its origin. Because of this, places that are allowed to register an offshore company in their lands are considered to be offshore tax havens. This is one the reasons that offshore business is flourishing in the world. One of the notable offshore company formation in UAE is Jebel Ali Free Zone Authority (JAFZA), which has an offshore license in UAE and receives a good amount of offshore investment.
Established in 1985, JAFZA is well known in Dubai as one of the largest free zones. It was in the year 2003 that JAFZA was given the right to have JAFZA offshore company formation in UAE. Because of its own company law regime that is applied in the whole free zone, there are services that come with JAFZA offshore company registration in UAE, like as follows: holding freehold properties, tax mitigation, estate planning, offshore bank account, asset protection, etc. With the JAFZA offshore regulations that are administered throughout the free zone, property and assets of offshore companies in UAE are allowed to be confidential.
If business owners wish to establish a JAFZA offshore company setup in Dubai, they would need to get in contact with one of the offshore company formation agents of the free zone. The agent will then be responsible for the processing of the documents needed to go through offshore company registration. Before all of that, an agent will also discuss all the information that you may need with regard to how to set up an offshore company, the details about JAFZA offshore company fees, and offshore jurisdictions. The agents can also advise you about the best offshore company formation or even the low-cost offshore company formation or the cheapest offshore company formation available in the UAE. With the help of an agent, you can be more prepared in ensuring the availability of the required documents and also in regards to your financial side, once you know about the offshore JAFZA company set up cost.
There are a number of benefits that come with deciding to carry out a RAK offshore company registration. Some of the main advantages are as follows: RAK offers privacy and confidentiality for all of your information, RAK offshore company cost is reasonably priced and if you are looking forward to setting up your offshore company in an ideal location for business operations without too much cost and hassle, RAK ICC offshore is the answer to such prerequisite.
Benefits / Advantages
There is a list of advantages that offshore companies in UAE receive by simply carrying out JAFZA offshore company formation. This free zone is one of the locations that have offshore banking UAE for incorporations to open an account here, like an offshore merchant account.
For further information, more offshore benefits are listed below:
- 100% foreign ownership
- Exemption from all import duties
- 100% repatriation of capital and profits
- Freedom from corporate taxation
- Abundant inexpensive energy
- Simple and efficient recruitment procedures
- A high level of administrative support
- Having an offshore company formation with bank account in the UAE
- Legally protect assets from possible claims by others
- Simplify the transfer of ownership and save stamp duty which otherwise becomes payable when the property is sold
- Have your own license from the government and make business anywhere in the world
- No office required
- No paid-up capital
- The easiest way to make your international trade business
Before you decide to finally have a UAE offshore company incorporation, you need to know the activities that are and aren’t allowed in this free zone. A long list of activities is available for offshore company setup in JAFZA; however, there are also activities that offshore entities are prohibited to conduct that is as follows:
- Intellectual Property
- Movie Production
- Game and Win
FAR Consulting Middle East is one of the offshore company formation agents in JAFZA. We have more than 30 years of experience that makes us reliable in offering quality offshore company formation services that you need.
Businessmen who are looking to go through JAFZA offshore company registration are welcome to have a consultation with us. We accommodate business owners who are keen to have JAFZA offshore company setup in Dubai and provide all the information that they may need.
We provide the following services once you let us handle your business set up in Ras Al Khaimah:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
The procedure of processing your JAFZA offshore company formation would range from 2 to 4 weeks.
Requirements for JAFZA Offshore Company Registration
- Proof of tradename reservation (our firm’s task)
- Proof of initial approval for the activities (our firm’s task)
- Passport copies of the shareholders
- Passport copy and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by our firm)
- Notarized and attested Power of Attorney appointing our firm as your legal representative, so that we can act on your behalf and/or on behalf of the shareholders (template will be forwarded by our firm)
- There are some activities which might require third party/authority pre-approval—accordingly, additional costs and professional fees might be applicable.
- Also, during the process, the authorities might require a few other documents.
Additional Documents Required for a Corporate Shareholder
- Attested and notarized Memorandum of Association/Article of Association—it must be attested by the UAE Embassy at the place of origin.
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin expressing intent of establishing a new setup abroad—it must be attested and notarized by the UAE Embassy (template will be forwarded by our firm).
- Certificate of registration (if applicable) of your existing company/entity, license, or certificate of incorporation of your existing company/entity attested and notarized by the UAE Embassy
Offshore JAFZA Company Set up Cost
The below table shows the estimated JAFZA offshore company fees. If need be, you can contact us for more information or clarification.
|Offshore JAFZA Company Set Up Cost|
Table of Estimated Government Cost and Professional Fees
|Trade License Option/Activity||Cost in USD||Cost in AED|
|Registration Fees – Government||3,000||11,000|
|Assistance in Opening a Bank Account (Optional)||1,000||3,680|
|Our Firm’s Professional Fees||5,000||18,365|
ATTENTION – NOTE