JAFZA offshore company formation
Offshore Company Incorporation in JAFZA (Jebel Ali Offshore) /RAK Free Zone, Dubai – United Arab Emirates.
SKM International - Chartered Accountants based in Dubai are Authorized Registered Agent for JAFZA Offshore Company formation /RAK offshore company, UAE.
SKM International – Chartered Accountants (Auditors & Business Consultants) is a professionally managed Auditing, Management, financial and Accounting Consulting C.A. firm led by experienced qualified professionals whose vision and passion is complemented by a team of well qualified and dedicated professionals.
Offshore Company may be used as a Holding Company for a multitude of activities which may include holding freehold properties in Dubai as approved by JAFZA, tax mitigation, estate planning and asset protection. It is possible to hold Dubai property and other assets in privacy through a Dubai offshore structure. Further, on obtaining a ‘Certificate of Incorporation’, a bank account can be opened to park excess liquidity. In fact, starting from January 2011, the land department in Dubai (RERA) will register only those properties purchased through an Offshore Entity which is registered with Jebel Ali Offshore Authority under JAFZA only.
Offshore Company set up services is for various needs such as:
- Opening a Bank Account to park excess liquidity.
- Setting up a Branch or Representative Office in United Arab Emirates.
- Purchasing real estate (household properties).
- Purchasing Freehold properties in Dubai which are approved by JAFZA (Properties from Developers like Emmar, Nakheel, Dubai Properties, etc.).
- Investment arm to make equity investment in ventures & projects.
- Holding Company to hold investments in Shares.
- To form a Special Purpose Vehicle (SPV) for specific targeted sector like Real Estate Investment or Information Technology, etc.
- Listing of traded securities for business owned in Free Zone Companies.
- To establish an Offshore Bank Account in Dubai.
The most significant aspects of the Offshore Rules and Regulations and legislation in Jebel Ali Offshore based in Dubai – United Arab Emirates are:
- A minimum of One Shareholder and Two Directors are required
- Every Company shall have a secretary.
- Every Company shall keep accounting records.
- A minimum of one shareholder required.
- Name of the Company must end with Limited.
- Corporate shareholders are permitted.
- The accounts of the Offshore Company shall be approved by the Directors and signed by one of them.
- Registration of the Company in the Offshore Zone will take place after the necessary approval is obtained.
- Restriction of activities: Certain business activity is restricted like banking business, insurance and reinsurance, insurance.
- Broker/agent, consulting services, professional services, management consultancy, etc.
- The Offshore Company can be used as a General Trading Company.
JAFZA offshore rules and regulations