Jafza Company Formation - 10 Zone

By Author: Siddhumenega
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Company Formation In JAFZA:

The Jebel Ali Free Zone (JAFZA) is located in Dubai's Jebel Ali area, at the far western end near Abu Dhabi. It is situated on the main highway, and has immediate access to the Sheikh Mohammed bin Zayed Road. The free zone is also near the Expo2020 site.

Established in 1985, JAFZA has helped boost the UAE economy by being home to thousands of business from more than a hundred countries that employ over 144,000 people. With this, JAFZA brings in 32% of the UAE's foreign direct investment.

JAFZA has grown from less than 20 companies in 1985 to more than 550 in 1995 and over 8,000 today, which includes 95 Global Fortune 500 enterprises.

Most of these companies have set up their regional headquarters in JAFZA to serve the wider MENA region including West Asia, the CIS, Africa and Indian Subcontinent.

Why do foreign businesses choose business setup in JAFZA? Here are some of the perks they look forward to from here.

Connectivity:

JAFZA has access to the most developed port in the entire region. Furthermore, both Al Maktoum International Airport and Dubai ...
... International Airport are less than an hour's drive away. Coupled with warehouse facilities that make it the prime option for setting up import-export businesses, its location is one of the strongest reasons why large businesses that regularly trade with the rest of the world choose business setup in JAFZA.

JAFZA also has a logistics corridor with Dubai World Central Free Zone, which is located very close.

Jebel Ali Sea Port:

Jebel Ali Port operated by DP World, is the largest marine terminal in the Middle East and the flagship facility of DP World’s portfolio of over 60 marine terminals across many continents. As an integrated hub offering sea, air and land connectivity, complemented by excellent logistics facilities, Jebel Ali Port plays a vital role in the economy of the region.

Jebel Ali port has been voted “Best Seaport in the Middle East” for over two decades and is ranked the 9th largest container port worldwide.

Free zone perks:

You will enjoy setting up your business in an area that offers you all the benefits of a free zone – complete foreign ownership, 100% repatriation of capital and profits, and a single-window clearance.

Business setup in JAFZA:

Company formation in JAFZA is simple and straightforward - in just a few days, you can create your business and start operating. You just need to decide on the type of business you plan on setting up - whether it is a free zone company, a free zone establishment, or a branch of an existing company - and provide the requisite documentation, which differs depending on the business type you choose.

Advantages of company formation in JAFZA

● 100% foreign ownership
● 0% corporate tax for 50 years
● 0% personal income tax
● 100% repatriation of capital and profits
● 0% import or re-export duties
● No currency restrictions
● No restrictions on foreign talent or employees

In addition to this, company formation in the JAFZA Free Zone can derive benefits from the extensive network of double-tax avoidance treaties that the United Arab Emirates has signed with countries worldwide, including countries such as India, Pakistan, Singapore, China, Malaysia, Canada, Germany, Italy, Austria and Holland.

Dubai offers the additional benefits of a very high standard of living and a vibrant expatriate community with people from over 180 nations living and working in the region.

Beyond that, however, the specifics of setting up depends mostly on the type of license you are applying for, and the kind of business you want to run. That's why it is highly advisable you approach a company formation expert who will help you navigate through the UAE laws and through every part of the application, ultimately ensuring that the entire process will take no more than a few hours of your time.

Licenses:

Obtaining a valid license is mandatory for business setup in JAFZA. JAFZA offers a wide range of business activities which are categorized into the following types of licenses:

Trading License– allows the holder to import, export, trade and store items specified on the license. In addition, there is a General Trading License, which allows the holder access to a wider range of activities and a broader range of items on the license;

Service License– allows the holder to carry out the services specified on the license.

Logistics License – allows firms to engage in logistics services such as cargo (sea, land, air), warehousing, storage, parking, transshipment and distribution.

Industrial License– allows the holder to import raw materials, carry out the manufacture of specified products and export the finished product.

National Industrial License– this is issued for manufacturing companies with at least 51% Arabian Gulf Co-operation Council (AGCC) ownership. This license allows the holder the same status as a local or AGCC inside the UAE.

E-Commerce License– allows holder to carry out buying and selling of goods and services over electronic networks via any electronic means.

Innovation License – allows for the development of new products and services.

COSTS:

REGISTRATION FEES (one-time)

Free Zone Establishment (FZE) - 1 shareholder - 10,000

Free Zone Company (FZCO) - 2 or more shareholders - 15,000

Branch Company - AED 5,000

LICENSE FEES:

The following license fees are applicable, per annum:

Trading Licenses:

Maximum 7 products from 1 group - AED 5,500

Company Formation In JAFZA - 10 Zone

Maximum 12 products from 2 groups - AED 9,000

General Trading License - AED 30,000

Service license (branch of UAE Company only) - AED 8,000

Logistics license (branch of UAE Company only) - AED 30,000

Industrial Licenses:

Maximum 7 products from 1 group - AED 5,500

Maximum 12 products from 2 groups - AED 9,000

VISAS:

The company will have to apply for an Establishment Card, in order to commence the processing of visas. An additional document required is a Power of Attorney, in case a PRO is
appointed.

Establishment Card – AED 1,890 (US$ 515)

Power of Attorney – AED 1,500 (US$ 410)

The next step will be applying for the visas. Here are the approximate costs:

Employment Visa – applicant outside the country – AED 4020 (US$ 1,096)

Employment Visa – applicant inside the country – AED 4,810 (US$ 1,310)

Medical Test, Emirates ID – AED 1,240 (US$ 338)

Beyond that, however, the specifics of setting up depends mostly on the type of license you are applying for, and the kind of business you want to run. That’s why it is highly advisable you approach a company formation expert who will help you navigate through the UAE laws and through every part of the application for business setup in JAFZA, ultimately ensuring that the entire process will take no more than a few hours of your time.

Check For Update: https://10zone.ae/company-formation-in-jafza/

I'M Siddhumenega from Bangalore, India. Working as a Content Writer