A JAFZA offshore company must have a Registered Agent and Registered Office in the Jebel Ali Free Zone or in Dubai. This could be an office maintained by the company or by the Agent to which all communications and notices may be addressed. Immovable property owning offshore companies are required to appoint a Dubai resident as a contact person as required by the Land Department.
Offshore company is permitted to have a foreign corporation or nominee company as its shareholder. The Company needs to have an individual as the Secretary.
No Objection Certificate (NOC) from the Dubai Land Department is required to own property in Dubai via a corporate structure. Obtaining an NOC can be a complex process. N R Doshi and Partners is able to assist clients in obtaining an NOC for the transfer of immovable property into a JAFZA offshore company.
N R Doshi and Partners can arrange two individual Directors for JAFZA offshore companies. Details of director fees can be provided on request.
The Regulations contain procedures for winding up of a company. We can assist companies to comply with the statutory liquidation requirements.
Factor | Description |
---|---|
Company Legislation | Jebel Ali Free Zone Offshore Companies Regulations, 2003 |
Name | End with “Limited” |
Tax Rate | Nil |
Possibility of Migration | No |
Shareholders
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Shareholders
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Share Capital
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Share Capital
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Directors
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Directors
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Secretary
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Secretary
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Bearer Shares | Not permitted |
Beneficial Ownership Disclosure | No public disclosure of information. Shareholder and Director details are provided to the Registry |
Availability of Shelf Companies | No |
Meetings | Yes (can be held anywhere in the world) |
Annual General Meetings | Yes |
Annual Accounts | Yes (accounts must be approved by the directors and preserved for ten years |
Are Accounts Filed | No |
Audit Requirements | No (only if requested by the Registry) |
Registered Office Required | Yes |
Share Transfer Duty | Nil |
Exchange Controls | None |
Other advantages |
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Limitations | Cannot carry out:
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