An offshore company is one that is a legal entity that is incorporated with the prime motive of operating beyond its jurisdiction or even the location of ultimate ownership. Jafza or the Jebel Ali Industrial Zone is a free economic zone in UAE. It is one of the most customer oriented and driven free zone out of them all. It offers a vibrant, dynamic working environment which is contributing towards pulling thousands of investors towards it.
So, if you are looking for company formation in Jafza Offshore, you are in the right place. Let us know in detail what all it is.
Different types of Company Formation in Jafza:
There are a few ways by which an investor can start their company in Jafza. They can entirely go with their needs since there is freedom to choose.
- FZE Company: FZE company is a limited liability company. Here a single investor can start the business with a minimum capital of AED 1 million. Here the businessman can be the sole managing shareholder, and this shareholder can either be a company or an individual.
- FZCO Company: Here also, the shareholders can be either a company or an individual. This type of pf company can have from 2 to 50 shareholders. The minimum capital requirement here is AED 5,00,000.
- Branch company: A branch company, as the name suggests, is a branch of an already existing company, being opened in Jafza Offshore.
The authorities of Jafza Offshore have been making continuous efforts to bring all the company formations together. For that, they have introduced a regulation for Public Listed Companies. This gives the freedom to businessmen to switch from one type to another without any hassle. It will make business much more convenient and continuous.
It must be noted here by the investors that in order to start a business, you need to obtain a necessary license from the authorities. Following are the types of licenses available for company formation:
- Industrial license
- Service license
- Trading license
- Offshore registration
- Innovation license
- E-Commerce license
- National industrial license
Benefits of setting business in Jafza Offshore:
There is a myriad of benefits to the investors for setting up their business in here.
- It provides the opportunity to the foreign investors to have complete ownership of their business.
- The corporate tax is exempted for these businesses for a period of 50 years.
- Capital repatriation faces no constraint.
- The personal income tax of investors is zero.
- There is no restriction on bringing foreign talent or even employees.
- Currency restrictions are almost negligible.
- Import and export duty is zero.
- One can easily mortgage the premises as well.
Setting up of business here in Jafza Offshore is an easy process. The working here in fast and hasslefree, speeding up the company formation process. In addition to it, the growth-oriented environment and volatile market make it the most active free trade zone of UAE. Look for registered agents in Jafza Offshore today, to set up your company there.