JAFZA is one of the fastest-growing and largest offshore company formation regions in the Dubai emirates. JAFZA is renowned for an impeccable business track record that stands for customer centricity, innovation, entrepreneurial dynamism and transparent business operations.
Under the 2003 Jebel Ali free zone offshore companies regulations, JAFZA authorities allow the formation of offshore companies in the region by individuals, corporate bodies, non-resident companies and foreign investors from different parts of the world including India. However, the required offshore company formation documentation may vary depending on the number of shareholders as described below.
Documentation required by individual applicants
- JAFZA offshore company application form.
- Investor’s CV or personal profile.
- An original and certified bank reference letter.
- Proof of residency by the investor that may be provided in the form of utility bills that are not older than 3 months.
- Address belonging to the company’s shareholder.
- Valid and certified passport copy with a UAE entry stamped page.
- Documentation indicating the appointment of an approved JAFZA offshore company formation agent.
Documentation required by corporate applicants
- A clear business plan detailing the business activity to be undertaken and how the business will be managed.
- JAFZA offshore company application form.
- Original and certified bank reference letter belonging to the company.
- Notarized and attested copy of the parent company’s certification of incorporation.
- Attested and notarized copies of the memorandum and articles of association.
- Attested and notarized power of attorney in favor of the offshore company manager.
- Company’s board resolution to establish a company in the JAFZA offshore region.
- The company’s certificate of good standing that must be attested and notarized by the UAE embassy.
- Company shareholders and directors original bank reference letters, proof of residency and copies of valid passports.
- Original and certified bank reference letter belonging to the parent company.
- Proof of residency for approved company representatives.
- Documents indicating the appointment of an approved JAFZA offshore company formation agent.
Characteristics of Jebel Ali offshore company formation
- Companies should have a minimum of one shareholder who can be an individual or a corporate entity. Shareholders are tasked to determine the company’s capital structure and maintain minutes of all general meetings held. Note that, shares must be paid in full upon allotment.
- Companies should have at least two directors where corporate directors are not accepted.
- Every JAFZA offshore company should have a company secretary.
- Companies must maintain updated accounting records that must be preserved for 10 years from the date they are prepared. The records must be approved and signed by company directors.
- The company name must end with limited.
- Companies must have a registered office in the JAFZA region.
Summary
Jebel Ali offshore company formation is easy once all the required documents are gathered. According to Flyingcolour, your offshore company formation agent will help with filing the documents to ensure that the company registration process is successfully completed within one-week utmost. Therefore, foreign investors should not shy away from exploiting the Jebel Ali region due to lack of information or speculations that the registration process would be daunting and time-consuming.
This blog has been published on dated 19-July-2019 and hold the facts good standing on the published date. The facts and certain might change depending on new policies announced by the Government from time to time.
