Company Formation at Dubai Airport Free Zones
Why Setup Business at Dubai Airport FreeZones?
Dubai Airport Free Zone is an economic free zone within Dubai, United Arab Emirates where all businesses and service providers are totally free from all forms of government control and regulation. A Dubai free zone allows businesses and service providers to earn unlimited income from the services and products they offer. It is considered as a global free trade zone, which means all goods traded here are tax free. Dubai’s economy is growing faster than the other local or foreign economies and is projected to reach a level of per capita GDP growth of 6.5% in the next decade. Dubai is considered to be one of the most attractive locations for any kind of business or service provider.
If you have a business or service establishment in Dubai or need it developed or renovated, Dubai’s free zones can be very beneficial. Dubai has a very conducive environment for developing and expanding businesses and services. There are no personal taxes payable in Dubai and business owners are not required to pay income tax. Other significant incentives include free electricity, free water and postal services.
Companies can start operations in Dubai without incurring any kind of capital investment as long as they meet the following requirements: no trade of goods, no rental or services trade, no gaming or gambling activities and no purchase or resale transactions. The laws on company formation in the free zone are different from that of the country. In order to start a business in Dubai you need a license and a registration certificate from the Dubai Industrial Property Investment Authority (IDIA). The IDIA also has the power to conduct examinations and conduct proceedings in case any company is found to be non-operative.
Company formation in the free zones of the Dubai can take up to 3 months and after this time period you will become a registered agent of the companies that you wish to trade in the free zones of the Dubai international airport. You can apply for registration at the Dubai embassy or consulate. After this you will have the responsibility of registering all your employees. This procedure is quite similar to that of applying for registration in any other country.
The next important document for the application of the operations permit is the director’s license. This license is issued by the Dubai Presidency and is also required by the Dubai Commercial Zone Authority (DCZA) to operate a food business in Dubai. For those companies that are not registered with the Dubai Commercial Zone Authority, the license can be granted by the emirate’s Company Department.
The next step for a company formation in the Dubai free zone is to apply for an operations permit. A new business setup requires at least a three-year operating license, business visa and a business set-up license. A new set up license can be granted in two ways: by presenting a certified business plan to the Dubai Supreme Court, or by presenting a letter from the delegated authorities of the designated foreign country confirming the legality of the proposed operation in their territory. The fax copies of these documents are to be sent to the Companies Department of the Dubai Middle East Intelligence Office. In case of a letter from the assigned authority, the Company Department will need to process the same, but the processing time will be much shorter.
After these documents have been received and the processing is complete, the applicant can expect his turn in the queue. There will be one more set of procedures for the aed business setup in Dubai – the payment of the administrative fee. It is due to this reason that the Company Formation Department at the Dubai airport presumes that the applicant already has an offshore company setup or a UAE national ID number. However, companies that have not yet received an offshore company setup or a UAE national ID number cannot expect to receive a Company Formation free zone certificate. The Company Formation free zones are awarded on the basis of the commercial presence of the applicant in Dubai.
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