Procedure to setup a free zone company in JAFZAKWS Admin
Jebel Ali Free Zone is one of the most popular, oldest and fastest growing free zone located on the western side of Dubai. JAFZA is widely recognized as the most service driven and customer oriented free zone. It is in the process of becoming major business hub of the world having trade value of over $69 billion; currently holding a dynamic base of more than 7000 companies, providing over 135,000 jobs to employees from more than 100 countries. Jafza provides a key strategic location and excellent logistics infrastructure and business environment for the formation of free zone companies.
Why Choose JAFZA For Free Zone Company Setup?
- 100% foreign ownership
- 100% repatriation of capital and profits
- Minimum capital investment is not required
- Liability of a shareholder is limited to his paid-up share capital
- No restrictions on currency
- No personal income tax
- No corporate tax (for 50 years and renewable)
- No import or re-export duty
- Giving direct access to global consumer market of more than 2 billion people
- Already built factories and warehouses
- No restrictions on foreign employees
Free Zone Company Formation in JAFZA
Free zone company formation in JAFZA consists of the following types,
- Free Zone Establishment (FZE) & Free Zone Company (FZCO)
Free Zone establishment can be formed by a single shareholder in jafza. Shareholder can be an individual or a company. It is a limited liability partnership whereby liability of shareholder is limited to his shares in FZE. Personal assets of shareholder are protected in FZE.
- Free Zone Company (FZCO)
Free zone Company can be formed by a minimum of 2 and maximum of 50 shareholders in JAFZA. Shareholders can be individuals, company or combination of both. Again, FZCO is a limited liability partnership where liability of shareholders is limited to company’s assets.
- Branch Company
Companies who were established outside JAFZA having valid registration and license can form a branch within JAFZA. Parent company will have 100% ownership of its branch and branch will operate under the name of its parent company and conduct same business.
- Special Status Non Resident Offshore Company
Under JAFZA Companies Regulations Act 2013, offshore company can be formed by an individual or company. It will be non-resident company having corporate legal existence.
Procedure to Setup Free Zone Company
JAFZA free zone company formation process is relatively quick and straightforward. Firstly you have to decide which type of company you intend to establish, then there is application and documentation work which is described below. Once all the steps are done, your company can be up and running around merely in 10 days.
Documents required for Free Zone Company
- Application form for free zone company setup
- Original as well as copy of passport of selected manger
- Original as well as copy of passports of all individual shareholders
- No objection letter from current sponsor of each UAE resident shareholder
- Summary of the project
- Application form and letter of undertaking for EHS (Environment Health and Safety)
Additional documents required for individual shareholders
- Business profile of each shareholder
- Board resolution to setup company
- Manager signature specimen
Additional documents required for non-individual shareholders and for branch of foreign company
- Attested signature of manger specimen by jafza
- Attested and notarized Memorandum (MOA) and Articles of association (AOA)
- Certificate of Registration
- Copy of Chamber of Commerce certificate (in case of branch)
- Official letter from parent company to setup branch in JAFZA (in case of branch)
After successful submission of documents, you will be issued an initial approval for your business. After that you will select appropriate ready-made office from JAFZA that caters to your business requirement. You can also opt for JAFZA regulated contractors for appropriate fit out office service or you can do that independently.
After finalization of office, lease agreement is prepared and you can collect office keys.
Legal documents are prepared and submitted to authority after that you will be issued a business license.
KWSME provides complete services for free zone company formation in JAFZA. We are amongst the best business consultancies in UAE. We offer complete business solution for free zone setup like preparation of documents, their submission to authorities on your behalf, assistance in opening of bank account, obtaining visas, finding local service agent if required or drafting of legal documents in Arabic or English. We specialize in our services for business setup in Dubai, and provide best business model for investors interested in Jafza company formation.