Dubai business setup, UAE / Emirates is a tax free country. There is no tax department and hence 0% taxation for income tax in Dubai, corporate tax in Dubai and capital gain tax in Dubai (except for entities which are oil producing companies or they are branches of foreign banks in Dubai), JAFZA Dubai offshore company setup offers 100% ownership.
In order to setup Dubai Offshore company physical office is not required. Both UAE residents as well as non residents can incorporate JAFZA offshore company in Dubai.
An industrial area surrounding the Jebel Ali Port, JAFZA Offshore was created in 2003 permitting international businesses to launch offshore entities next to one of the world's biggest sea port. Setting up an offshore company is JAFZA comes with many benefits including zero taxes, easy bank set ups, liberal government law and policies.
Once the required paper works are submitted, it will take up to 7 days for a company to set up their business and get it running. Investors or owners must be physically present to set up the company. Investors and owners must go through associates, lawyers and legal consultants to set up the company. Bank accounts in JAFZA offshore can be managed from anywhere in the world via internet banking facilities. With zero taxes, investors have full control of their funds. Companies in JAFZA offshore has the address of their legal agent rather than their own company name.
Main Benefits of setting up business at JAZFA offshore
- 100% foreign ownership
- The only offshore company where you can own UAE real estate
- Multi-currency bank account
- No corporate or income tax
- No annual reports or accounts to be filed
Shareholder structure in JAFZA Offshore
- Shareholders - generally, minimum of one shareholder is required to set up a company in JAFZA offshore. Corporate shareholders are permitted and shareholders can decide the capital structure of the company and how the shares will work between them.
- Directors - for company registration in JAFZA offshore, minimum of one director is required
- Secretary - companies must either have a secretary or the director can act as the secretary.
Other requirements for JAFZA Offshore
- Naming - all companies registered with JAFZA must end with Limited in their company name.
- Tax - JAFZA is free of corporate and income tax. However if a company has taxable supply then VAT must be included.
- Annual reporting - company should have account reports of up to 10 years. An auditor should be appointed to review the accounts Business activities in JAFZA offshore
- Advertising & Media
- Intellectual Property
Licenses for a JAFZA Offshore Company
- General trading license - holders of this license can import, store and distribute goods verified under JAFZA regulations
- Trading license : holders can perform the same operations as a general trading license plus the benefit of exporting products.
- Industrial license: this license can import raw materials and manufacture products
- Service license: holders can carry out specific services permitted under the Economic Department or by the municipality
- National industrial license: this license can hold manufacturing firms with a GCC national as the owner
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