Jebel Ali Offshore
A free zone, also known as a free trade zone or a free zone authority, is a
geographical region with its own set of rules that do not apply to companies
operating outside the zone. Companies operating in free zones trade goods and
services while taking advantage of unique tax and foreign ownership regulations.
One of the steps the government took to diversify the economy and draw more
international investors to Dubai and the UAE in general was to establish free trade
zones, which would enable them to launch a firm within a developing,
entrepreneurial environment and increase their earnings. Jebel Ali Free Zone,
established in 1985, is the country’s first free zone. There are currently more than 40
free zones spread over the UAE.
The Authority will issue a certificate of incorporation in place of a trade license because JAFZA offshore businesses are not permitted to undertake any commercial operations in the United Arab Emirates. JAFZA offshore is not permitted to rent out any offices or facilities in the UAE in its name. It has a legal address for its agent, just like any other offshore firm. Such a firm is not permitted to conduct business in the UAE, where it was formed. It is limited to conducting business on a global level. A bank account in the UAE is possible for Jebel Ali offshore. Most banks provide internet banking thus, the account may often be maintained online. Additionally, some banks provide debit cards.
Benefits of setting up a business in Fujairah free zone
100% foreign ownership
0% personal income tax
International recognition
Onsite customs
Access to local banking markets
Close proximity to the Port of Jebel Ali
No restrictions on the repatriation of profits
World-class regulatory environment and infrastructure
0% corporate tax rate for 50 years
Business Activities
Businesses engaged in JAFZA offshore company creation are neither categorized or restricted to any one field. It implies that the business may engage in a wide range of operations. Even now, grouping activities and giving them explicit names would be helpful when you apply for a bank account.
