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JAFZA Offshore

Established in 1985, Jafza is one of the world’s largest & fastest growing freezones. Today Jafza is spread over an area of 48 sq. kms and is home to over 6400 companies, including over 120 of the Fortune Global 500 enterprises, from across the world. It is a leading driver of the burgeoning UAE economy. With its impeccable track record, Jafza stands for innovation, customer centricity, transparent operations and entrepreneurial dynamism.

JAFZA Offshore Company Setup

JAFZA, under Jebel Ali Free Zone Offshore Companies Regulations 2003, allows the formation of an offshore Company by individuals or corporate bodies, as a non-resident company, having a corporate legal entity.

Documents & Details Required For Individual Applicant

  • Applicants Personal Profile (CV)
  • Bank Reference from anywhere in world ( Template can be provided)
  • Proof of residence (Recent Utility Bill like Electricity Bill or Telephone Bill in the name of applicant)
  • Passport Copy (With at least 6 months validity)

Features

Dubai has passed a law for incorporation of Offshore Companies in Jebel Ali freezone in the Emirate of Dubai. The laws have been framed in a manner such that authority maintains a clean image of the companies vis-a-vis international financial authorities.

Some of the unique features of the Companies are as follows:-

  • No bearer shares will be allowed.
  • The Company shall file audited accounts each year
  • The Company can open bank accounts with all banks operating in Dubai and also in other jurisdictions
  • Company Status : Limited Liability
  • Number of Shareholders : Minimum One & Maximum not limited
  • Suffix to the name : “Limited”
  • Capital Structure : Decided by the shareholders
  • Directors: Minimum number of Directors shall be two

Permitted Activity

  • Professional Contact with legal consultants, lawyers, accountants and auditors
  • To hold shareholders and Directors meetings in the UAE
  • To hold lease of property for use as registered office or own real property in the Palm Islands or Jumeirah Islands or any property owned by Nakheel company LLC or any other real property approved by authority.
  • To hold an account in a Bank in the UAE for the purpose of conducting its routine operational transactions.
  • To become shareholders of Freezone & Limited Liability Companies.

Formation Procedures

  • Submit application to the Registrar.
  • Attestation of Memorandum & Articles of Association prepared as per the regulation.

Registration

The Registrar is the final authority to accept or reject the registration. Upon registration an Offshore Company registration number will be allotted and registration certificate will be granted.

Shares

  • All shares must be fully paid when allocated.
  • No Bearer shares allowed.
  • No different classes of shares allowed.