JAFZA under Jebel Ali Free Zone Offshore Companies Regulations 2003, allows Dubai offshore company formation by individuals or corporate bodies, as a non-resident company.
Advantages of Dubai offshore company formation:
- easy and quick to set up
- 100% foreign ownership possible
- 100% exempted from corporate tax and VAT
- No ‘tax haven’ stigma and on the white list of FATF
- Highest level of discretion & confidentiality. The register is not public!
There are no information exchange agreements with other governments & authorities.
- Possibility to purchase real estate in UAE, e.g. in Palm island, Dubai Marina etc.
- No minimum capital requirements – no paid up capital mandatory
- 100% repatriation of profits and capital
- No currency restrictions and exchange controls
- Not entitled to trade in Dubai or within the UAE.
- Minimum 2 directors are required.
- Can not obtain UAE residence visas for its employees.
- Can not rent local offices in the UAE, only virtual offices.