Offshore Company Under the Jordanian Companies Law
The Offshore Company
1. An Offshore company is a joint stock company, a partnership limited by shares, a limited liability company, or a private joint stock company registered in the Kingdom and conducts its business abroad. The phrase (Offshore company) should be added to its name.
2. An Offshore company is prohibited from offering its shares for subscription in the Kingdom.
Company, Registration, capital and Objectives
The Offshore company shall be registered with the Controller in a special registry for Jordanian companies operating outside the borders of the Kingdom. Its capital must not be less than the minimum set by the relevant legislation.
If the company's objective is export and import, the capital should be not less than (5000) J.D.
the Registration
1. The offshore company shall be registered according to the Jordanian Companies Law.
2. The application for the Offshore company registration shall be submitted to the officer of the company control department, following the form approved for this purpose, attached to its Memorandum of Association and Articles of Association, indicating the type of the company and its objectives.
3. Non-Jordanian nationality requires approvals from intelligence, the ministry of interior and public security.
The Obligations
The Offshore company is obligated to:
• Work within the objective for which it was established.
• Not to exercise any of its objectives inside the Kingdom.
• To have a clear material headquarters in the Kingdom.
• A certified accountant should be appointed as the registered certified accountant to fill tax returns annually.
• A legal advisor should be appointed to act as the registered lawyer with the Jordan Bar Association annually.
Holding Meetings
The Offshore company may hold company meetings inside or outside the Kingdom.
Number of Jordanians employed
The number of Jordanians working for an Offshore company in the Kingdom may not be less than half of the total number of its employees.
Annual bank guarantee
Upon approval of its registration, the exempted company shall submit an unconditional annual bank guarantee in the officer of the company control department name, automatically renewed to cover its obligations towards the Department, not less than (5000) J.D.
Exemption from tax
Article 4/c/3 of the Income and Sales Tax Law The income of the following persons and entities shall be exempted from tax...(3) “The Offshore company is registered under the Companies Law and obtained from carrying out its business outside the Kingdom”.