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In 2003, the Jebel Ali free zone authority (JAFZA) established laws for the registration of JAFZA offshore companies within the Jebel Ali free zone.
- International financial regulators hold JAFZA offshore in high regard.
- It is permissible to have 100 percent foreign ownership.
- A bank account for a JAFZA-registered offshore corporation can be opened in multiple currencies.
- A registered agent is required to register a JAFZA offshore corporation.
- A JAFZA offshore corporation is not permitted to rent an office in the United Arab Emirates.
- In order to form the firm, shareholders must come to JAFZA in person.
- The offshore firm JAFZA is unable to perform banking or insurance activities.
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The Dubai Land Department has granted JAFZA the right to own freehold homes in Dubai.
- Offshore enterprises operating in the JAFZA zone are permitted to own shares in onshore businesses.
- On the public register, the names of stockholders and directors are not listed.
- According to the Ministry of Economy, all offshore enterprises must submit an ESR notification starting January 2019.
- Government-imposed VAT does not apply to offshore companies.
