In Jebel Ali Free Zone, an offshore company requires at least one shareholder to incorporate. This can be an individual or another company. In the case of corporate shareholders, certified company formation documents must be submitted for the purposes of company registration. Two directors are required for an offshore company in Jebel Ali Free Zone. A company secretary is also required for the company, but one of the directors can assume the role of company secretary.

If an offshore company leases office space in the Jebel Ali Free Zone, one of the directors is also eligible for a director visa. Accounts need to be preserved for ten years. Offshore companies located in the Jebel Ali Free Zone are allowed to repatriate 100% of their capital and profits. There are also no restrictions on foreign exchange. There are also no short-term or long-term capital gains taxes or taxes on personal income in the UAE.

An offshore company incorporated in the Jebel Ali Free Zone is exempt from all import and export duties. There is no short-term capital gains tax or long-term capital gains tax payable. The director(s) and/or ultimate beneficial owner are not required to pay any tax on their personal income arising in the UAE. Offshore companies incorporated in the Jebel Ali Free Zone are not required to pay any corporate tax.

The UAE has double taxation treaties with 135 countries, so if your country of residence or citizenship is on the list, you will not have to pay any taxes on the income generated by your offshore company in the UAE. This is subject to the specific double taxation treaty signed with your country of citizenship or residence. For more details, contact us.

There is no limit on the number of staff that can be hired. In fact, it is possible to operate an offshore company outside of Jebel Ali Free Zone without hiring any staff. An office is required, and Jebel Ali Free Zone itself provides you with a number of office options to choose from. For more details on how you can open an offshore company in Jebel Ali Free Zone, please call (+971) 4 295 4459 or email info@skyline-dxb.com.