The UAE has fordecades now been the envy business startup location for many Indian businessmen, and this has been mainly attributed to the various perks that come attached. For instance, the UAE also has a number of business zones that are conducive based on the type of business you have in mind. One such business zone is the Jebel Ali offshore zone. This business zone, usually permits the formation of businesses that are wholly owned by foreigners, which goes on to have a corporate legal entity with individuals or corporate bodies as shareholders. Jebel Ali offshore company formations do have their own regulations, which have been prescribed to them by the Jebel Ali offshore authority. These regulations are meant to deliver convenience and efficiency of global offshore locations to the business owners who are investing in Dubai offshore, while at the same time, helps in maintaining a high reputation with international financial authorities. They are defined by unique features that include;
• No minimum amount of capital is required
• You are not required to deposited the capital of the business to the bank
• An offshore company has the capacity and privileges of a natural person
• All the shares must be paid in full when allocated.
• No bearer share or differential classes of shares are allowed
• The minimum number of directors shall be two.
• 100% foreign company ownership is permitted
• Total exemption from taxes and import and export duties
• Able to open a corporate bank account in the UAE
• The offshore company is located within the business zone
• A registered agent must be appointed by the company from the approved list of registered agents
As much as having a JebelAli offshore company formation is largely benefitial, there are some downsides to having your company located in this business zone. They are as follows:
• No local business
There is no JebelAli offshore company formation that allows you to conduct any business with the local residence. You will only be mandated to do business with foreign companies.
• No indulging into the banking business
Once you decide to have a JebelAli offshore company formation, youcannot be allowed to offer banking services of any kind since it’sagainst the set of rules of the business zone.
• No insurance services
Just as banking, no UAE offshore is allowed to conduct insurance related business. Theseinclude, being an insurance broker, reinsuarance, or act as an insurance agent.
The above downsides should not hinder you from starting a company formation in Jebel Ali offshore region. The secret lies in choosing the right business type that will thrive in the region. Jebel Ali offshore company formation offers a wide range of perks that come attached without any hinderance. Your company is also set to benefit from a number of the favourable business policies that Dubai has.