Jebel Ali Free Zone Offshore Company Formation

The announcement of Jebel Ali Free Zone Offshore Companies regulation in January

2003 by the Jebel Ali Free Zone Authority has been highly cherished by the investors.

Regulation permits formation of offshore companies within the Free Zone and confirms the

Free Zone’s commitment to continuous growth in a rapid, dynamic and changing economic environment keeping pace with world-wide developments.

Offshore companies can be suitably utilized as an investment company; holding

company; real estate holding company; for further investments in local or Free Zone

companies; and for International Trading. Firms of accountants and lawyers as approved

by the Authority are permitted to provide services to clients for registering offshore

companies, registered office and for acting as agents for the companies.

Outstanding features of the offshore companies are:

• Limited Liability Company

• No minimum capital requirement

• Requirement to have an approved registered agent either within the Free Zone

  or in the Emirate of Dubai

• Requirement to appoint shareholder, Directors, Manager and Secretary

• Bearer shares not permitted

• No personal or corporate income tax

• Issue of shares of only one class permitted.

• Requirement to have accounts audited on annual basis.

Offshore companies are allowed to:

·         Have contacts with legal consultants, lawyers, accountants and auditors

·         Have bank account in the UAE

·         Become shareholders in a new or existing Free Zone Entities or an LLC

·         Hold shareholders and directors meeting within the UAE

·         Carry out International Trading

Offshore companies are not allowed to:

·     Trade within UAE

·         Own an interest in real estate property situated in the UAE, other than a lease property

 referred to in the regulations or approved by the authorities

·         Carry on a banking business

·         Carry on business as an insurance or re-insurance company, insurance agents or

insurance brokers

Carry on any other business which may, by regulations be prohibited by the

authorities.

Winston Wambua

For more information please contact me on

Mobile +971553350517

Email: winstonk@live.com

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