Jebel Ali Free Zone
The official body of Jebel Ali Free Zone came into operation in 1985 and to today’s date, it is known as the greatest corporate hub in the whole Middle East. The authorities are focusing on building permanent client relationships, helping global investors to put revenue on growing businesses forming in the Jebel Ali Free Zone, fostering alliances combined with top investors by supplying them infrastructure, extra services, and incentives, so that they invest in the new corporations.
The authorities of JAFZA take pride in being the 1st free zone to obtain ISO accreditation in the year 1996, globally. Jebel Ali Free Zone is the only free zone in the world to show rapid growth in the MEASA area, giving around 2 billion entrepreneurs a chance to grow their market.
Vision of JAFZA
It is the target of JAFZA to stay as the strong symbol that assists in pushing the growth of Dubai, rendering unlimited and exciting outcomes for industrial upliftment, and to become the biggest free zone existing in the region of MENA. In the previous years, JAFZA worked hard to enhance its services and environment, only to grab some of the most popular corporations and industries to start their company set up in Jebel Ali Free Zone.
Reasons To Choose Jebel Ali Free Zone
The latest projects in the Jebel Ali Free Zone and its environs are aimed at making JAFZA among the most successful sea-air platforms in the world. Jebel Ali Free Zone is the sole free zone in the world that is situated between a seaport and the busiest airport in the world. On one end of the JAFZA is Jebel Ali Port, the globe’s 7th biggest cargo port, while on the other end is Al Maktoum International Airport, another of the largest global cargo airports.
Jebel Ali Free Trade Zone is situated near Jebel Ali Port, the biggest seaport with connections to all ports. Because of its prime location, the JAFZ listing has connections with the majority of international markets, and Al Maktoum and Dubai International Airport Cargo Airport are both nearby.
Over the decades, JAFZA is counted as the driving force of Dubai plus UAE’s extraordinary productivity expansion. By sheer strength of its distinctive value-added solutions and proposals, JAFZA has been effective in attracting major industries from all across the world.
Benefits to Register a Company in Jebel Ali Free Zone
Exemptions and bonuses are available to foreign enterprises operating in the JAFZ. The majority of businesses in this Free Zone are export-oriented.
The following are some of the advantages available to international investors:
- Complete possession of a business
- Setup is simple in the Jebel Ali Free Zone: The procedure of forming a business is uncomplicated, simple, and quick. The only stipulation is that the owner intends to open a company. Once you are sure of the form of business you wish to adapt, the required documentation can be finished in just 10 days.
- Without pledging to an agency, you can apply for multiple visas. Amongst the several reasons why entrepreneurs prefer JAFZA is because it enables them to apply for three licenses without having to rent office space.
- Complete capital and earnings repatriation, resulting in a simple company registration process.
- No minimum share capital is mandatory for setting up a business.
- A shareholder is only liable for the amount of investment he has made in the company.
- There aren’t any personal or corporate tax rates.
- There seem to be no currency limits as well.
- Sponsoring dependents is simple.
Company Formation Ways
The companies can be formed in 3 ways:
- Free zone company (FZCO) and Free zone establishment (FZE): The individuals applying to form a company can obtain the special offer to develop a firm as a single legal entity, provided by JAFZA. An FZCO and FZE can be successfully formed by having the needed funds and knowing the shareholder limit properly.
- Branch: Firms with authorized registration advance and license separate from JAFZA can drop their request for the set up of a branch firm in JAFZA.
- Special status non-resident offshore companies: This free zone permits the set up of an offshore firm by an organization, individuals, or commercial bodies, as a non-occupant firm, having a business legal entity.
Permitted Business Operations in JAFZA
The permitted set of operations is quite enormous; the subsequent license types are presented:
- Logistics
- Industrial
- Trading
- General Trading
- Service
License Required in Jebel Ali Free Zone
In this free zone, you can apply for different types of licenses. Let’s learn more about them:
1. General Trading Licence
With the help of this license, you can distribute, import, and store all stuff as per the set pattern of JAFZA.
2. Trading Licence
With the help of this license, you can send, receive, store, or distribute the stuff as mentioned on the permit.
3. Industrial Licence
Using this license, the holder can easily receive raw materials, produce certain products and transport the final product to any nation.
4. Service Licence
By this license, the holder can use services present within Jebel Ali Free Zone. The entrepreneur’s business activities should fall in compliance with the ED; Economic Department, or the Municipality of the Emirate.
5. National Industrial Licence
The National Industrial License is envisioned for manufacturing firms with possession or stakeholding of at least 51% with AGCC (Arabian Gulf Co-operation Council) nationals/natives.
Company Registration in Jebel Ali Free Zone
As previously stated, the process of forming a corporation in JAFZA is rather simple. However, there’re a few restrictions you should be aware of before proceeding.
- Two to five stakeholders are required for a free zone firm.
- One stakeholder is required for the establishment of a free zone.
- Multinational investors planning to broaden their firm in Dubai can open branch offices here.
The process to Register a Company in JAFZA
The JAFZA is the official body making decisions of permitting business registrations in the Jebel Ali free zone. These are the stages that you will have to follow to register a company in JAFZA:
- Choose a firm name.
- To receive the license, you must first settle on a company activity.
- Obtain the authority’s green signal.
- Documents must be submitted, and fees must be paid.
- Obtain an office location.
Documents Needed to Set Up a Company in JAFZA
The documents required to start a corporation in JAFZA are straightforward and are dependent on the corporate structure chosen by the shareholder or company owner. Hereunder is the documentation that all businesses must submit:
- A registration form for establishing a company in JAFZA.
- Proposal for public health and the environment
- Photocopies of investors’, executives’, and secretary passports
- an overview of the business’s operations
- The articles of association of the company.
Conclusion
When you think of forming a company in a new location, knowing everything about that place is very important. Being the owner of the company, you should also know the best alternatives to exist. In today’s time where there is an ongoing wave of entrepreneurship everywhere, you must have a complete plan to follow.
But it is not easy for everyone to follow the right path on their own. That is why, to guide you through your special journey, ODINT Consulting will be there. You can contact us to receive the best available business consultation services. Our experts will strive to work hard every day, for you, and with you. So, contact us today!
FAQ’s
Jebel Ali Free Zone is also referred to as JAFZA. It is a free zone that has the ability to be the host of budding entrepreneurs and start-ups so that they can build their businesses in the UAE.
This type of corporate formation is best for firms that already exist outside of JAFZA.
Industrial, service, e-commerce, trading, etc are some of the categories of licenses for which you can apply.