What are the types of company formation in JAFZA?
Jebel Ali Free Zone (JAFZA) could be the right choice for your business if you’re thinking of expanding to the UAE! JAFZA offers a variety of company types to choose from, but the top 3 most recommended are the Free Zone Establishment (FZE), Free Zone Company (FZCO), and Branch Office. And so, to gain a better understanding of each type, let’s take a closer look at each one.
Free Zone Establishment
If you’re an entrepreneur or small business owner, then an FZE may be the ideal company type for you. With a single shareholder, it’s easy to set up and can be owned by an individual or corporate entity. Additionally, it’s suitable for various business activities such as trading, services, or manufacturing.
Free Zone Company
An FZCO is a company with two to five shareholders, it is ideal for businesses that require multiple shareholders or partners to run their operations. Also, the shareholders can be individuals or corporate entities, and the company can be used for trading, services, or manufacturing activities. This type of company is a popular choice for medium-sized businesses.
Branch Office
If you’re an established business looking to expand to the UAE, a Branch Office might be the perfect fit for you. Branch office is a representative office of a foreign company that can be utilized for multiple activities. However, it must maintain the same name and activities as the parent company. To complete your application for a branch office, you’ll need to fill out and submit the Ultimate Beneficiary Owner (UBO) Form. This requirement stems from Cabinet Decision No. (58) of 2020, which mandates that all companies operating in the UAE disclose the ultimate beneficiary of their business. Essentially, the UBO is the individual who ultimately benefits from the company’s operations.
Conclusion
So, to make the most out of JAFZA company formation, you need to pick the right company type. Each one has different requirements and advantages. And so, no matter which option you go for, all companies enjoy a tax-free environment, top-notch infrastructure, and easy global market access.
If you have any inquiries regarding Company Formation in JAFZA and other related incorporation services, then feel free to reach out to us. You may send us an email info@skwergroup.com or send us a message online for a live chat with one of our consultants. We will be happy to provide you with additional helpful information.
