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Offshore information

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1) Is this the first time you have set up a company in UAE ?
2) What will be your business activities ?
3) How many shareholders will the company have ?
4) Will the shareholders be individuals or a corporate company ?
5) How many directors will you company require ?
6) How would you like to pay for company formation ?
7) Will you require a UAE residents visa ?
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JAFZA
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JEBEL ALI FREE ZONE AUTHORITY (OFFSHORE)

OVERVIEW:

JAFZA commenced operations in 1985 and today stands out as a leading business hub of the Middle East. JAFZA boasts of being the first free zone in the world to win ISO certification in 1996. JAFZA is one of the fastest growing Free Zones in the MEASA region, which gives direct access to a market of over 2 billion people.

JAFZA offshore companies regulation was enacted on 2003 and provides eligibility of holding property investments in UAE under the corporate structure.

BENEFITS OF AN OFFSHORE COMPANY

Establishing an Offshore Company does not have to be complicated and can provide many benefits for individuals or Companies involved in business across International borders.

Our comprehensive services and expertise will allow you to open an Offshore Company in the most compatible jurisdiction and in the most cost-effective way possible.

·         Zero tax jurisdiction

·         No required submission of financial reports

·         Minimal Administration Costs

·         Asset Protection

·         Lower setup and maintenance costs

·         No capital requirements

·         100% foreign ownership

·         Confidentiality

STEPS IN OPENING AN OFFSHORE COMPANY:

Step 1- Client provides at least 3 company names and the activity/activities to be utilized.

Step 2- Client provides scanned copies of personal documents through email along with the complete structure of the company (personal documents for individuals and corporate documents for corporate ownership).

Step 3 – Upon verifying the documents provided, the registrar would require payment in order to proceed with application.

Step 4 – Application online through JAFZA portal will be arranged

Step 5 –Preparation of application forms and Memorandum and Articles of Association.

Step 6 –Signing of documents will be scheduled

Step 7 –After signing, JAFZA will notify when documents are completed.

SUMMARY OF REQUIREMENTS FOR INDIVIDUAL SHAREHOLDER:

1.      Passport Copy

A clear copy of your passport, showing the photo page and signature page. The passport must be valid for six months from the date of application.

2.      CV or Resume

A copy of your recent Curriculum Vitae or Resume with your full contact details.

3.      Utility Bill

An original latest utility bill such as; telephone, electricity gas, water, etc., showing your full name and complete current address.

Important Note:

  •     In the event that a Utility bill is not available, a letter of address confirmation issued by the Local Municipality or Local Authority in the country of origin is acceptable.
  •     Al l documentation must be provided in English, or with an accompanying English translation.

SUMMARY OF REQUIREMENTS FOR CORPORATE SHAREHOLDER:

1.      Certificate of Incorporation

Certified True Copy of the Certificate of Incorporation to be attested by the Ministry of Foreign Affairs and the UAE Consulate in the Country of Origin.
If established in UAE, it must be stamped by the governing body where the company was formed.

2.      Trade License

Certified True Copy of the Certificate of Incorporation to be attested by the Ministry of Foreign Affairs and the UAE Consulate in the Country of Origin.
If established in UAE, it must be stamped by the governing body where the company was formed

3.      Memorandum and Articles of Association

Certified True Copy of the Certificate of Incorporation to be attested by the Ministry of Foreign Affairs and the UAE Consulate in the Country of Origin.
If established in UAE, it must be stamped by the governing body where the company was formed.

4.      Certificate of Incumbency

An original latest Certificate of Incumbency or a legal document issued by the registrar, which confirms name of the shareholders and directors of the company to be attested by the Ministry of Foreign Affairs and the UAE Consulate in the Country of Origin.
Also accompanied by the passport copy of the shareholder and directors of the company. If established in UAE, it must be stamped by the governing body where the company was formed.

5.      Certificate of Good Standing

If the Corporate Entity is an Offshore, an original Certificate of Good Standing is required and must be attested by the Ministry of Foreign Affairs and the UAE Consulate in the Country of Origin.
If established in UAE, it must be stamped by the governing body where the company was formed.

6.      Shareholder’s Resolution

An original Shareholder’s Resolution confirming the establishment of the new company; and confirming the name of the person authorized to sign the company formation documents; it must be attested by the Registrar and must be attested by the Ministry of Foreign Affairs and the UAE Consulate in the Country of Origin.
If established in UAE, it must be stamped by the governing body where the company was formed.

Important Note:

  •     All documents need to be provided in English, or with an accompanying English translation.

          Timeline:

Company Formation (Individual & Corporate) – approximately 10 working days upon submission of all required documents to Registrar.

          Cost:

            Starting from USD 3,599 - Company Formation

            USD 249 – Bank account opening assistance

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