In UAE there are many offshore companies. An Offshore Company is a legal business organization that is set up with the intention of operating outside its registered authority and or the location of its ultimate ownership. Offshore has been widely known and offshore company formation services are everywhere in the country. Let's get to know the benefits and procedures to do Business Set Up in JAFZA - Offshore on your own.
JAFZA Offshore companies are not present there physically, they are only registered here, and their shareholders don’t have resident visas. It’s a company that is under the laws of another country instead of its origin. This is one of the reasons that offshore business is flourishing in the world.
READ MORE ABOUT BUSINESS SET UP IN RAKEZ
Benefits of setting up business in JAFZA – Offshore
There are numerous advantages to establishing an offshore company in the JAFZA UAE. They are,
1. 100% profit return
2. Freezone business license
3. 100% foreign ownership
4. Zero currency restrictions
5. No income tax or corporate tax payment
6. Gateway to the international market
7. Business friendly legal system
8. Better access to global funding
Documents required for the formation of a company
1. Personal Profile of the applicant
2. Bank Reference
3. Proof of residence
4. Passport Copy
Procedures to set up a company in JAFZA
1. Submit the application to the registrar
2. Attest Memorandum & Articles of Association prepared as per the regulation
3. If registration is accepted offshore Company registration number will be allotted and a registration certificate will be granted.
Companies that are registered in the free zones and own a free zone trade license are required to submit an audited annual financial statement for free zone trade license renewal. BMS Auditing provides audit in free zones UAE as per compliance and regulation.
BMS Auditing can help you to set up your business in JAFZA – offshore. We can handle legal and documentation formalities to start your business in JAFZA. Contact us to establish your dream business, we will be glad to assist you!