What is Jebal Ali Freezone or JAFZA?
The Jebel Ali Freezone Authority or JAFZA as it is popularly called is an ever-growing free zone in the United Arab Emirates. It is situated in the Jebel Ali area at the far western end of Dubai, close to Abu Dhabi. It began operations in the year 1985 and is currently a leading business hub in the Middle East. JAFZA aims to create and maintain long-term customer relationships. With top-tier infrastructure, valuable incentives and services give them the space to take advantage of the numerous business opportunities in the region. In addition to all of these qualities, JAFZA is one of the fastest-growing free zones in the MEASA region giving direct access to a market of over 2 billion people.
The Jebel Ali Free Zone Authority has a great reputation among investors due to the numerous advantages it offers. JAFZA welcomes bonafide companies and businesses while facilitating business transactions and trading in the Middle East. The JAFZA offshore is equally popular amongst entrepreneurs and investors due to its reputation as an international hub for manufacturing and trading. Offshore companies registered in JAFZA can own properties in their individual names or via a company in the United Arab Emirates.
What are the benefits of establishing a company in JAFZA?
- Owning an offshore company in JAFZA makes the bank opening process for your company easier.
- Owning an offshore company in JAFZA allows you to enjoy a tax-free regime.
- Repatriation of capital and profits generated from your business is not restricted.
- It makes insurance easy to procure.
- Owning an offshore company in JAFZA makes insurance easy to procure.
- Banking and accounting services are more accessible.
- You have access to legal services vans feasibility studies.
The offshore businesses in JAFZA enjoy a distinctive status as non-residents businesses. These businesses are formed under the JAFZA Offshore Companies regulations.
What type of business can I establish in JAFZA?
You can establish three types of businesses in JAFZA. This is dependent on the nature of your company and the number of shareholders involved. They include:
- Subsidiary Company
- A Single Shareholder Company
- Multiple Shareholder Company
What are the documents needed to establish a company in JAFZA?
- An application form
- A passport copy of the shareholders and managers.
- Utility bill of the shareholders and managers
- Bank reference of the shareholders and managers.
What are the steps in establishing a company in JAFZA?
The steps a company owner must take are:
- Deciding your company’s activities
- Contacting an officially recognized Jebel Ali Free Zone Authority agent for the registration process
- Getting an official motto for your business
- Submitting three names for your company. The authorities will then decide the most appropriate name.
- Determining the share capital
- Finalizing the list of stakeholders. This must include a minimum of two directors and a secretary.
- Opening a bank account. You can learn more about this how to open a bank account.
- Submitting your documents, passports, bank reference, proof of address, and the resume of the shareholders.
- Completing all attestations.
Conclusion
Get in touch with our business setup and company formation experts here to help you with the process and get your license within 24 hours.
