- April 12, 2016
- Posted by: Aswani
- Category: Blog
Dubai has witnessed tremendous growth over the past few decades. It is regarded among the most business-friendly cities in the world. The creation of free zones is one of the main factors that have played an important role in making Dubai an attractive business destination. Today, there are more than 20 free zones in Dubai. Jebel Ali Free Zone (JAFZA) is the world’s largest and one of the most popular free zones in Dubai.
JAFZA is strategically located at the Jabel Ali Port, which is the largest port in the world. It enjoys proximity to Abu Dhabi. Dubai International Airport is also located in close proximity. Established in the year 1985, JAFZA was the first free zone to gain an ISO certification. JAFZA has played an important role in the UAE’s rapid economic growth and development. It currently hosts around 7,000 companies from over 100 countries all around the world.
Here are some of the factors that make JAFZA a popular destination for establishing an offshore company in JAFZA:
An offshore company can have 100% foreign ownership
Businesses are allowed to operate multi-currency bank accounts
A sponsor is not required for company formation
Business setup costs are quite low
Maintaining records/ books is not mandatory
A business can own properties on Palm Islands and other areas approved by JAFZA
There are no restrictions on profit and capital repatriation
How to Setup an Offshore Company in JAFZA?
When it comes to JAFZA offshore company formation, businesses need to avail the services of a registered agent. A reliable agent can help a business prepare registration forms and incorporation certificate, provide assistance in opening multi-currency bank account and also help in filing application with the registrar of companies. These services provided by an authorized agent can make the entire process of business formation in JAFZA easier and hassle-free.
Some of the common types of companies that can be established in JAFZA include General Trading, Investments or Joint Investments Company, Shipping or Ship Management Company, Holding Company, Copyright or Patent Company and Property Owning.
If you’re planning to set up an offshore company in JAFZA, the first step is to find a reliable agent. With its knowledge and experience, a JAFZA offshore registered agent will be able to recommend the best options and make company formation process less time-consuming. There are many reliable agents that can help you with JAFZA offshore company formation.