Characteristics of an offshore company registered in the JAFZA Zone are as follows:

SHAREHOLDERS 
A minimum of one shareholder is required.  Corporate shareholders are permitted. Shareholders will decide capital structure of the Company. No fiscal minimum capital requirements have been stipulated.  Bearer shares are not permitted. Different classes of shares are not permitted and shares have to be fully paid when allotted. A shareholders meeting should be conducted periodically (at least once in a year).  Every company shall maintain minutes of all proceedings at general meetings.  The Register of Members shall be open for inspection by any member of the offshore company and any other person.  If inspection is refused, the company commits an offence.

DIRECTORS 
A minimum of two directors are required and corporate directors are not permitted.  Details of Directors are not available for public inspection.

SECRETARY          
Every Company shall have a secretary.

ANNUAL                 
Every Company shall keep accounting records. 

ACCOUNTS  and         
Shall be preserved for 10 years from the date on which,

AUDIT                       
they are prepared.  An offshore company’s accounts shall be approved by the directors and signed by one of them. 

TIMESCALE           
Registration of the company in free zone will take approximately 3 working days.

RESTRICTIONS       
Names must end with limited.  Certain business sectors such as

ON NAME AND      
Banking, Insurance, Re-Insurance, Insurance Agency or

ACTIVITY               
Insurance brokerages etc. are closed for offshore companies.

LOCAL                     
As a matter of local company law the company MUST