JAFZA is one of the largest and fastest growing free zones of Dubai created with the sole purpose of attracting foreign investment in the country. At present, there are 6400 plus businesses functioning in JAFZA that enjoy the special status of being non-residential organizations, and have been established under the JAFZA Offshore Company Regulations as enforced on January 15, 2015.
Benefits of setting up an offshore company in JAFZA
- Governed by Jabel Ali Free Zone Offshore Companies Regulations 2003
- 100% foreign ownership authorization
- A minimum of two directors are required for JAFZA company formation
- No personal or corporate tax policies
- No exchange control policies
- Companies can own real estate properties of Jumeirah Island or Palm Islands or any other property approved by JAFZA.
- Limited liability
- Can become shareholders in FZCO, FZE or LLCs
- No limitations on minimum capital requirements
- Incorporation can be done within 7-15 business days
- No obligations on maintaining records/books.
- Organizations can have a local bank account for conducting routine business transactions
- Compulsory to have an approved, registered agent