UAE OFFSHORE COMPANY
JAFZA offshore company formation
PROS OF JAFZA OFFSHORE COMPANY
— Allowed to own property in Dubai
CONS OF JAFZA OFFSHORE COMPANY
— Obligatory to have 2 Directors in the company
— Personal visit for the registration is required
— Higher price in comparison to RAK ICC
— No business in UAE - only international
Jebel Ali Free Zone offshore company
Jafza Offshore is a well-known type of Offshore company which is registered by Jebel Ali Free Zone Authority.
As any Offshore company, JAFZA Offshore is allowed to have a bank account in UAE but carry out the business outside of the country of its incorporation.
One unique advantage of JAFZA Offshore is the fact that this type of company is allowed to hold real estate property in Dubai. Jafza Offshore is the most cost-efficient way to hold property under a company rather than your personal name.
The registration of JAFZA Offshore is done through a registered agent, who will prepare all necessary documents and manage the setup process.
Personal presence of the shareholder is required one time for submission of the corporate documents for registration. One more thing to remember – JAFZA Offshore should have at least one shareholder but min. 2 Directors.
Company registration time varies from 1 to 2 weeks depending on due diligence process done at the authority.
If you do not need to hold property in Dubai, you may not need a JAFZA Offshore company. Instead, you can register it for example in RAK, which will substantially optimize your expenses.
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JAFZA OFFSHORE COMPANY FORMATION COST
NO VISA COMPANY
| LICENSE TYPE | VISAS INCLUDED | TOTAL COST | |
|---|---|---|---|
| JAFZA Offshore company | no visa | AED 18,900 $5,200 | download breakdown |
DOCUMENTS
DOCUMENTS
PROCEDURE
NO VISA OPTIONS
- - Passport copy
- - Latest utility bill as address proof
- - CV
- 1-2 weeks- company formation
Top 10 questions about RAK Economic Zone company
Can I rent an office of my RAK offshore company in Dubai?
You cannot have an official lease contract for the office, but your registered address will be in Dubai. It will be the address of your agent. It will be mentioned in your incorporation documents and normally the agent would be able to receive your correspondence at that address. You can also lease a space in a business center, where you can have a desk, phone answering, meeting room and other related services.
Does offshore company have to register with Federal Tax Authority and pay VAT?
No, offshore company is not liable for VAT, because it's business can be carried out only outside of the UAE, thus UAE VAT does not apply. It also doesn't have to be registered with Federal Tax Authority.
Should I pay any other TAX?
UAE is free from income tax and corporate tax. It has only import tax 5% for the goods that you bring into the country, and VAT 5% for the trading or service transactions that happened in UAE. But since an offshore company cannot import any goods to UAE, it is exempted from import tax too.
What is the difference between offshore and free zone company?
There are a few major differences:
Offshore company is not allowed to do business in the UAE, but a free zone company can import goods and provide services in the territory of the UAE.
Offshore company is not eligible for UAE resident visas, whereas a free zone company is usually entitled for resident visas.
Free Zone company may be liable for VAT if it does business in the UAE, but offshore company never has to pay UAE VAT.
Offshore company is the cheapest type of UAE corporate entity, and any free zone would always cost higher.
Should I renew my company? When? How much does it cost?
Yes, offshore company has to be renewed annually. The cost of the renewal is 2 150$ including Certificate of Good Standing, which serves as a formal proof of the company renewal. Usually we deliver this certificate to the bank in order to update the records and make sure the account of the company stays active.
Can I get a resident visa if I have an offshore company?
No, offshore company is not entitled for resident visas.
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