In an offer to extend more facilities to local and foreign investors, JAFZA also allows investors to execute their outbound business through the initiative of offshore company registration.
Jebel Ali offshore companies are regulated by the Jebel Ali Free Zone Authority like any other traditional offshore companies formation centre. The following section will provide an overview for investors interested in the offshore company option.
A Jafza Ali offshore company shall at all times have a registered office which must be an office maintained in the Jebel Ali Free Zone or in Dubai by the company or its registered agent, and to which all communication and notice may be addressed.
Please see the article by Krauss Amarelle Hindenburg & Khaswneh in the Legal section of the guide on page 277
ACTIVITIES ALLOWED BY
A JAFZA offshore company may be in corporate to conduct any lawful business, except the following:
- Any business with person residence in UAE
- Owning an interest in real property situated in UAE, other than a lease of property for use as a registered office or owning real property situated in UAE, other then a lease of property for use as registered office or own real property on the Palm Islands or Jumaira Island or any properties owned by by Nakheel LLC or any other real property approved by authority;
- Banking business
- Business as an insurance or re-insurance company, insurance agent or insurance broker, or
- any other business which has regulation made by the authority, be prohibited by the authorities.
If JAFZA offshore company wishes to conduct trade or other businesses in JAFZA or elsewhere in the UAE, it must obtain the appropriate license to conduct the trade or other business activity from the competent authorities.
REAL ESTATE (UTILITIES, POST AND TELECOMMUNICATIONS, STAFF SPONSORSHIP)
Please see the relevant section of the Jebel Ali Free Zone chapter for detailed information.
APPLICATION FOR IN CORPORATION AND FEES ANNUM
Any one or more person may apply for the formation of incorporated JAFZA offshore company with limited liability by signing and delivering to the JAFZA registrar an application for a certificates of in corporation.
THE FOLLOWING DISTRACTIVE FEES ARE TO BE PAID:
The following documents are required from the applicant before certificates of formation can be issued. Whereever indicated, the documents will have to be notarized and attested (N&A) by the UAE Embassy or consulate or any Arab embassies.
ALL APPLICATION MUST SUBMIT:
- Application form
- Memorandum and articles of Association
- Proof of residence
- Covering letter
- Letter of application of registered agent
- Applications, personal profile(short cv)
- Passport copy
- Bank reference
NON INDIVIDUAL APPLICATION:
- Certified or registration of the company (N&A)
- Certificate of good standing of the company (N&A)
- Memorandum & articles of association (N&A)
- Board resolution calling for the establishment of the offshore company(N&A)
The registrar reserve the right to call for any extra documents it necessary, All applicants are required to attend and sign the memorandum of Association, in person, at JAFZA.
Cost of set up (At-a-glance)
|Amendment of memorandum of association||Dha 500|
|Company renewal||Dhs 2,500|
|Urgent company registration||Dhs 10,500|
|Document attestation||Dhs 200|
|Agent Registration||Dhs 200|
|Cancellation of the company||Dhs 10,000|
The registrar can have an offshore company for any reason and the registrar is not bound to provide any reason to the company for the refuel of registration. The registrar’s decision to refuse to register an offshore company is not subject to review or appeal in any court.
Where the registrar grants his consent to the registration of an offshore company he shall register the offshore company’s articles of Association, following which he shall provide the offshore company ‘s registered number.
From the date of incorporation, the company will be an offshore company, and shall be known by the name contained in the certificates of incorporation and capable of carrying out business.