Jebel Ali Offshore Company Formation
The Jebel Ali free zone has evolved greatly over the past years making it one of the highly sort after offshore company formation location in the UAE by foreign investors. The region is renowned for having flexible and investor friendly offshore company formation laws and policies. For instance, JAFZA is the only free zone region where investors are allowed to own property in designated freehold areas by the Dubai Lands Department. This facilitates corporate property ownerships among legal business entities and global investors. The Jebel Ali offshore company formation rules and regulations are formulated in a manner that ensures efficiency and convenience for investors hailing from different countries like India.
Jebel Ali offshore company features
- Corporate shareholders are allowed but at least one shareholder is required to start a JAFZA offshore company. Corporate shareholders must present attested company formation documents.
- At least two directors are required without a provision for corporate directors. However, JAFZA offshore company directors’ details are not availed to the public.
- A company secretary is required where the company director can assume the role.
- Company accounting records must be reconciled and reported annually. Moreover, offshore companies must maintain proper 10 years accounting records from its inception date.
- JAFZA offshore company formations are entitled to one director visa should they rent office space within the free zone.
- Business entities are allowed to own and operate bank accounts in the UAE jurisdiction. The accounts can be multi-currency to facilitate international business trades and transactions.
- Company shareholders must sign offshore company incorporation documents in the presence of an Ajman free zone representative.
- Foreign investors benefit from the 100% assets and capital repatriation without capital movement or foreign exchange limits within and outside the UAE region.
- Jebel Ali company registrar has the mandate to appoint inspectors and order offshore company investigations at any time where company investors may be liable to pay the incurred inspection charges.
Licensure and permitted business activities in JAFZA
Unlike other business incorporation in the UAE, the Jebel Ali offshore company formation is not issued with a license upon incorporation. An offshore company is awarded a certificate of incorporation. Required company formation documents include; articles of association, memorandum of association, investors’ proof of residency, investors’ personal profile, valid passport copies, and bank reference. The Jebel Ali offshore company formations are allowed to conduct commercial activities outside the UAE; they are legally restricted from conducting commercial activities with business activities or individuals in the UAE jurisdiction. However, the offshore company investors are permitted to own freehold properties in specified Dubai locations.
From its inception, Jebel Ali free zone was designed to be an international business formation and operations hub offering favorable conditions for foreign investors. In light of this, Jebel Ali has continued to offer investors high quality infrastructure, excellent business operations logistics, and strategic business formation locations. Hence, it would be wise of international business oriented Indians to look into Jebel Ali offshore company formation by visiting our offices for more insight.