In accordance with the regulatory requirements, every company established in the UAE must renew their Trade License in order to legally continue engaging business activity and operation. The Dubai Multi Commodities Centre (DMCC) and freezone authority is the authority that issues, regulates and renews mainland and freezone trade licenses respectively. With the help of IBG, you can be ensured that the renewal process is completely done in the right order. IBG offers the best advice and services you need for liquidating your company in Mainland, Freezone and offshore across all the emirates.
During cancellation, the company will be liquidated, and all of its assets and properties will be properly divided among shareholders of the company. In all scenarios of liquidation, IBG offers the best advice and services you need for liquidating your company in Mainland, Free zone, and Offshore across all the Emirates.
*An offshore company is not allowed to carry out trading, banking, insurance agent or insurance broker activities. If the business industry is not mentioned above, please contact us for more information.
*The abovementioned fees include Registered Agent Fees.
1. Passport copy/ies of the Shareholder(s)
2. CV or Resume with contact details
3. Recent utility bills with full name and current home address
4. Details of the UBO
1. Certificate of Incorporation1
2. Memorandum and Articles of Association1
3. Trade License1
4. Certificate of Incumbency2
5. Certificate of Good Standing3
6. Shareholders Resolution4
1 Must be a certified true copy and be attested by the UAE Embassy or Consulate from the country of origin and by the Ministry of Foreign Affairs in the UAE.
2 Must be the latest or issued by the registrar; attested by the UAE Embassy or Consulate from the country of origin and by the Ministry of Foreign Affairs in the UAE.
3 If the corporate entity is an offshore license holder, an original copy is required and must be attested by the UAE Embassy or Consulate from the country of origin and by the Ministry of Foreign Affairs in the UAE.
4 Must state the confirmation of the establishment of a new company in JAFZA and must be attested by the UAE Embassy or Consulate from the country of origin and by the Ministry of Foreign Affairs in the UAE.
1. Renewal Application Form
2. Request letter from agent
Depending on the package taken during the first year.
1. Request letter from the agent stating the closure of the company.
2. Board resolution stating the closure of the company with the shareholder(s) signature.
3. Letter to appoint a liquidator from the shareholder(s).
4. Liquidation letter or liquidation report from a charted account company in the UAE.
Depending on the nature of the business.
No, an offshore business cannot rent space in a local area.
In JAFZA, an offshore business can be established in 6-7 working days.
No, a business entity incorporated in Dubai(JAFZA) is not required to move forward with local sponsorship.
A minimum of one or more shareholders is allowed to form an offshore company in JAFZA. It does not have any restrictions on the maximum number of shareholders.
The cost of starting a JAFZA offshore firm will vary depending on the registered agent you use. With IBG it just starts from 16,500 AED.
JAFZA supports activities of many different industries, such as
For establishing a JAFZA offshore company, you can begin as follows:
1. Decide on the type of business activity you wish to engage in and do your research;
2. Select a registered agent, such as IBG consultants, to assist you with licensing and registration;
3. Submit all required documents;
4. Pay the necessary fees.
Your registered Agent renews your JAFZA offshore business. You are necessarily not required to be present in person.
Like all other offshore companies in the UAE, JAFZA offshore business is ineligible for UAE resident visas.
Having all the essential resources opens up a whole new universe of possibilities for businesses connected to JAFZA. Today, Jafza is a thriving hub for thousands of firms from more than 130 nations.
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