UAE JAFZA & RAK Company Formation
Jebel Ali Free Zone or JAFZA, with an exemplary reputation, stands synonymous to transparent operations, innovations, entrepreneurial dynamism and customer satisfaction. Established in the year of 1985, 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
JAFZA offers a flurry of advantages to international organizations planning to establish an offshore company here:-
- Governed by Jabel Ali Free Zone Offshore Companies Regulations 2003
- 100% foreign ownership authorization
- A minimum of two directors are required for JAFZA business setup
- 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
With a strategic location and state-of-the-art infrastructure, the free zone is an attractive destination for setting up an offshore company in the UAE. JAFZA business setup is a simple and easy process in comparison to other legal forms of companies in the UAE. We, at Jumeira, one of the leading JAFZA business consultants in the nation, can help you establish an offshore company in the free zone at a nominal charge of $6000 inclusive of all Government and service charges.
Ras Al Khaimah (RAK) Offshore
One of the newly developed offshore jurisdictions, Ras Al Khaimah Offshore or RAK Offshore was inaugurated by the Ras Al Khaimah Investment Authority (RAKIA), to address the growing needs for offshore markets in the nation and to boost the Emirate’s ongoing economic diversification program. Within a short period of its incorporation, the jurisdiction is a home to more than 1900 International Business Companies (IBCs) and offers specialized services to these IBCs such as asset protection schemes, trading operations, tax planning activities, property holding, mutual fund investment and more. RAK Offshore company formation is an easy and quick process.
Benefits of setting up an offshore company in RAK Offshore
Those planning an offshore company formation in RAK can avail the following benefits: –
- 100% foreign ownership authorization
- 100% tax exemptions
- Limited liability company with an option to have Inc. or Ltd. titles
- Minimum share capital requirement is AED 1,000
- Extreme confidentiality and discretion of the RAK FTZ International Company Registry
- Authorized to maintain multi-currency corporate bank accounts in UAE
- Authorized to own real estate property in UAE, trademarks, patents, etc.
- Authorized to tailor the organization, its MOA and AOA to suit the business needs
- Absolute confidentiality, privacy and protection of information and assets
- No obligation of maintaining accounts or reporting financial documents
- No obligation of submitting annual audit reports to the authorities
- Minimum one director required for establishing the company
- Option of selecting the law – civil law, common law or any jurisdiction of own choice
- Advantage from more than 47 UAE double tax treaties
- A certificate of residence can be issued for foreign tax authorities
At Jumeira Consultants, we have a team of qualified professionals at the helm who have extensive experience in offshore company formation in RAK and its procedures. We can help you incorporate an offshore company in RAK at a nominal charge of $3500 which shall be inclusive of all Government fees and service charges.
For further information or assistance on offshore company formation in the UAE, please feel free to contact us.