Setting Up A New Offshore Company in Dubai
Offshore Company Setup in Dubai JAFZA
Are you considering an offshore company setup in Dubai? With its strategic location, business-friendly environment, and tax benefits, Dubai is an ideal destination for entrepreneurs looking to establish an offshore entity.
- Easy business setup process
- Bank account assistance
- Obtain a license
Offshore Company Setup in Dubai JAFZA
Jebel Ali Free Zone is one of the rapidly expanding free zones in the UAE. Its proximity to the Jebel Ali Port, the largest man-made port in the world, makes it a location of strategic importance. Housing more than 120 of Fortune-500 companies and over 7000 companies, the Jebel Ali Free Zone has emerged as one of the most sought-after destinations to kick-start manufacturing and trading companies. JAFZA is the largest free zone in the world and the first in the UAE.
In 2003, JAFZA became the first free zone to introduce offshore company formation in Dubai to lure domestic and foreign investors. It offers a plethora of benefits to offshore companies including a state-of-the-art infrastructure. It is the only offshore company available for purchasing properties and real estate in Dubai.
Features of Company Setup in Dubai JAFZA
To start an offshore company setup in Dubai JAFZA, it must comply with the norms and requirements listed under Jebel Ali Free Zone Authority Offshore Companies Regulations. Listed below are some of the essential features that your company must follow:
- The company should have atleast two directors and one shareholder.
- Companies must submit accounting details every year.
- It is required that shareholders and directors be physically present and sign the company incorporation documents.
- The JAFZA offshore company setup in Dubai is only issued a certificate of incorporation and not a license.
- JAFZA offshore company is not allowed to undertake business with the UAE residents.
- Undertake banking and insurance-related operations.
- Take interest in real estate properties other than those authorized.
Benefits of Offshore Company Formation in Dubai
Setting up an offshore company in Dubai offers a range of benefits, including:
- Tax Advantages
- Asset Protection
- Confidentiality
- Global Market Access
1. Tax Advantages
Offshore companies in Dubai are not subject to corporate or income tax, making it a cost-effective option for doing business.
2. Asset Protection
By establishing an offshore company setup in dubai, you can protect your assets from potential legal disputes or creditors.
3. Confidentiality
Offshore companies in Dubai offer a high level of confidentiality, as the names of company shareholders and directors are not publicly disclosed.
4. Global Market Access
Dubai's strategic location provides easy access to markets in the Middle East, Africa, and Asia, offering ample opportunities for business expansion.
How to Set Up an Offshore Company in JAFZA Dubai
- Choose a Business Consultant: The first step in setting up an offshore company in JAFZA Dubai is to hire a reputable business consultant who can guide you through the process.
- Select a Business Activity: Decide on the nature of your business activities and ensure they comply with the regulations set by the Dubai government.
- Register Your Company: Submit the necessary documents and fees to the Dubai Economic Department and obtain the required approvals.
- Opening a Bank Account: Once your company is registered, you can open a bank account in Dubai to start conducting business transactions.
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Legal Requirements for Offshore Company Setup in JAFZA Dubai
Before you can set up an offshore company setup in Dubai, you need to ensure that you meet the following legal requirements:
- Choose a Business Activity
- Select a Company Name
- Appoint a Registered Agent
- Submit Documents
- Obtain a License
1. Choose a Business Activity
Decide on the type of business activity your offshore company setp in Dubai will engage in, as this will determine the type of license you need to obtain.
2. Select a Company Name
Choose a unique name for your offshore company setup in Dubai that complies with the naming guidelines set by the Dubai Department of Economic Development (DED).
3. Appoint a Registered Agent
You are required to engage the services of a registered agent who will act as your company's representative in Dubai.
4. Submit Documents
Prepare and submit the necessary documents, such as the company's memorandum and articles of association, to the relevant authorities for approval.
5. Obtain a License
Obtain the appropriate license for your offshore company setup in Dubai from the DED, which will allow you to conduct business legally in Dubai.
Steps to Setup an Offshore Company in JAFZA Dubai
Setting up an offshore company in Dubai involves the following steps:
- Choose a Business Structure
- Select a Jurisdiction
- Engage a Business Setup Consultant
- Open a Corporate Bank Account
- Obtain Permits and Licenses
1. Choose a Business Structure
Decide on the most suitable business structure for your offshore company setup in Dubai, such as a Free Zone Company or a Mainland Company.
2. Select a Jurisdiction
Dubai offers several offshore jurisdictions, each with its own unique features and benefits. Choose the jurisdiction that best suits your business needs.
3. Engage a Business Setup Consultant
It is advisable to engage the services of a reputable business setup consultant who can guide you through the process of offshore company formation in JAFZA Dubai.
4. Open a Corporate Bank Account
Once your offshore company setup is registered, you will need to open a corporate bank account in Dubai to conduct business transactions.
5. Obtain Permits and Licenses
Depending on the nature of your business, you may need to obtain additional permits and licenses to operate legally in Dubai.
Connect with Neeja Corporate Services
Are you looking to start your company in Dubai but feeling overcome by the registration process? Don’t worry, you’re not alone. Setting up a business in a foreign country can be challenging, but with the right guidance and support, it doesn’t have to be a stressful experience. Neeja’s business setup services offers complete support and serve as a one-stop shop for company setup in Dubai. We provide a wide range of value-added services, such as license applications and VAT registration. Over the years, we have successfully advised many new entrepreneurs to make their business dreams a reality.
To book a free consultation, call on +971 43243031. You can also send a WhatsApp message at +971 50 465 2843. To connect over email, send us your query at [email protected].
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FAQ - Frequently Asked Questions on Company Setup in JAFZA Dubai
Offshoring refers to the business activities that companies undertake outside their home base. Offshore companies in Dubai are those that are registered as business entities in Dubai but are allowed to base themselves in locations that are outside Dubai. You are allowed to start an offshore company in Dubai as individual shareholders or corporate shareholders.
JAFZA is the only free zone that allows offshore companies to purchase and own properties and real estate in Dubai. Such offshore companies are allowed to hold shares of both free zone and LLCs. The Jebel Ali Free Zone Authority allows individual shareholders and corporate shareholders to incorporate an offshore business. The shareholders and directors must appear physically before the registrar while submitting the application. It does not allow corporate directors and requires a minimum of two directors.
To setup a company in JAFZA offshore, following are the basic steps.
- Pick a name for the company
- Talk to our company formation experts.
- Complete the application form.
- Curate the required documents needed for the process.
- Appear physically and sign the application under the witness of the registrar.
- We will also help you open a bank account.
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