JAFZA COMPANY FORMATION, DUBAI BANK ACCOUNTS AND VISAS
JAFZA Dubai. JAFZA Company Registration.
KGN Services specializes in Jebel Ali Free Zone Company Formation, establishment of branches of local and foreign companies in JAFZA, opening bank accounts and visa processing services.
JAFZA Dubai – General Information
Emirate: Dubai.
Country: UAE.
Location: Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia.
Time Zone: UTC+4.
Currency: Emirati dirham (AED).
JAFZA Dubai – Overview
Dubai hosts one of the largest free trade zones in the world: JAFZA. A combination of modern infrastructure, sound business policies and access to global markets has seen over seven thousand companies establish their presence at JAFZA Free Zone.
JAFZA Free Zone – The world’s fastest growing free zone in Dubai UAE.
Welcomed business activities
All business activities are welcomed by JAFZA Free Zone.
Benefits of JAFZA Company Registration
- Allowed to do business in the UAE
- Allowed to have an office in the UAE
- Company can hold an account in a bank in the UAE
- Possibility to get resident or employment visas for investor and employees
- 100% foreign ownership
- 100% repatriation of capital and profits
- No corporate tax
- Total exemption from all import and export duties
- No personal income tax
Dubai has clearly established itself as an economic beacon in the UAE. JAFZA Free Zone is a crucial pillar to Dubai’s economic success. JAFZA companies benefit immensely from the many incentives offered by Jafza and by the robust economic and financial framework of Dubai and the UAE.
Company Types in JAFZA Free Zone
The Jebel Ali Free Zone Authority allows three types of business setups:
FZCO applicants can avail of JAFZA’s unique offer of forming a company as a separate legal entity. An FZCO can be formed with 2 to 5 shareholders with a minimum capital of AED 500,000. The minimum number of directors is two. Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.
FZE applicants can avail of JAFZA’s unique offer of forming a company as a separate legal entity. An FZE formation can be with a single shareholder with a minimum capital of AED 1 million. The minimum number of directors is two. Director can be of any nationality and need not be resident in the UAE. Corporate directors are permitted.
For existing companies wishing to establish a base in JAFZA.
Types of License in the Jebel Ali Free Zone (JAFZA)
The categories of license available within the JAFZA are:
Trading
A JAFZA Trading License allows the holder to import, export, distribute and store items specified on the license. In addition to this, there is a JAFZA General Trading License which allows the holder access to a wider range of activities and a broader range of items on the license.
Service
A JAZFA Service License allows the holder to carry out the services specified on the license within the JAFZA. A JAFZA Logistics License allows firms to engage in logistic services such as Cargo (sea, land, air), warehousing, storage, packing, transshipment and distribution.
Industrial
A JAFZA Industrial License allows the holder to import raw materials, carry out the manufacture of specified products and export the finished product. In addition, there is also the National Industrial License, 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.
Required Documents for Company Formation in JAFZA
- Passport copy of manager/shareholder
- Project summary
- No Objection Certificate from local sponsor (if applicable)
FZE/FZCO Individuals:
- Business profile of shareholder(s)
- Board Resolution attested by JAFZA
- Specimen signature of manager attested by JAFZA
FZE/FZCO Company:
- Certificate of Registration duly notarized and attested by UAE Embassy
- Memorandum of Association duly notarized and attested by UAE Embassy
- Article of Association duly notarized and attested by UAE Embassy
- Specimen signature of manager attested by JAFZA
Branch Office (Outside UAE):
- Certificate of Registration duly notarized and attested by UAE Embassy
- Memorandum of Association duly notarized and attested by UAE Embassy
- Article of Association duly notarized and attested by UAE Embassy
- Board Resolution or Owner Declaration form duly notarized and attested by UAE Embassy
- Specimen signature of manager attested by JAFZA
Local Branch:
- UAE License copy
- Copy of Memorandum of Association
- Copy of Article of Association
- Copy of Chamber of Commerce certificate
- Letter from company to open branch in JAFZA
- Original Board Resolution specimen signature of manager attested by JAFZA
* JAFZA reserves the right to obtain additional documents if required.
Jafza Dubai Facilities
- Business Park
- Offices
- Showrooms
- Warehouse & Light Industrial Units
- Plots
- Retail Outlets
Calculating Your New Free Zone Company in the Jebel Ali Free Zone (JAFZA)
This is always crucial to understand the initial costs for a company start-up. Below is an overview of the basic expenses associated with a new company registration in the Jebel Ali Free Zone:
1.Type of License
Each activity of a company falls under a specific License Type. Below is an overview of the basic expenses associated with a new company registration in the Jebel Ali Free Zone:
Cost includes License fee only.
2. Type of Registration
The registration fee for a company depends on the proposed structure of the company as follows:
Note: Additional fees apply for MOA & AOA Attestation – AED 200, Board Resolution – AED 200 and Specimen signature of each shareholder and/or appointed representative of the company – AED 50.
3. Type of Office Facilities
Being a JAFZA licensed entity you are required to rent an office. Number of visas you are eligible for depend on the office’s size – 1 visa per 9 sqft for all types of facility (from AED 1,800 / sqm. / year). Business park facility allows 2 visas maximum, subject to availability.
4. Other Documents
Establishment Card is a mandatory document to enable the company register in the Residency Department. If a company would like to appoint a PRO to be represented for visa purposes in JAFZA, a Power of Attorney signed either by Manager or Shareholder is required.
- Establishment Card: AED 480
- Power of Attorney: AED 1500
5. Visa Application
Cost of each visa may differ depending on the visa type and whether the person in currently in or out of the UAE. Amendment of visa can be done only if an applicant has cancelled his visa or is transferring within JAFZA. Employment visa for employees and investors is valid for 3 years.
- Outside The Country Application: AED 2,900
- Inside The Country Application: AED 3,470
- Inside The Country with Amendment: AED 3,630
- Medical Test And Emirates ID: AED 1,120
Note: Labour Guarantee Deposit is required and is calculated as 1.5 x Basic Salary + Oneway Ticket Airfare per visa.
6. WIS JAFZA Company Registration Service Packages
Three packages are available for clients’ choice depending on individual needs.
JAFZA Free Zone Packages – Compare Package Features
Need Help Choosing the Right Package?
Why Choose KGN Services?
We’ve been helping business owners since 1996
Incorporating your business is our focus
We make a complex process fast and easy
We work closely with Companies Registries to guarantee our service
Fastest offshore companies & accounts – Most competitive pricing worldwide
Services in JAFZA
Worldwide Incorporation Services provides the following services related JAFZA Company Formation in JAFZA:
- JAFZA Company Formation
- Investor & Employment Visas
- Full JAFZA Free Zone Company Administration & Secretarial Services
- Opening of Bank Accounts
Enormous Free Zone in Jebel Ali
The international trade sector is constantly evolving. Multinational companies have become an integral part of our everyday life. That is why in many countries, the demand for favourable business and trading conditions is increasing. Dubai is known to be one of the most attractive places in the world for those who are eager to run their enterprise abroad. Moreover, it is one of the most modern cities globally and is developing by leaps and bounds.
It is also in Dubai where one of the world’s largest free trade zones is located. Jebelali Freezone represents a giant leap in the offshore sphere. It has up to the minute infrastructure, beneficial policies for enterprises, and close connections with international markets. It turns out that there are more than seven thousand firms established in the Jabel Ali Free Zone in Dubai.
If you are looking to start your own business in the UAE, you should know the local policy specifications. There are three types of firms you can set up in the Jebel Ali Freezone. They are as follows:
– Free Zone Company. You can run an independent company on a completely legal basis. You just have to have at least two directors. They do necessarily need to have residency in the UAE. Aside from that, be ready to have between 2 and 5 shareholders. Your capital must be no less than AED 500,000.
– Free Zone Establishment. In this case, you are allowed to have one shareholder. At the same time, your capital must be at least AED 1 million. The requirement for the number of directors is the same. – Branch. This is a suitable variant for those who want to open a branch office of their company in the Jabil Ali Free Zone.
What Is Your Profit?
Of course, nowadays, the offshore industry offers people numerous opportunities for business and trade. This means that you should always check the pros and cons of every single option carefully. It would be best to do that to ensure that business conditions in a particular country meet your personal preferences and expectations.
What are the benefits of the Jabel Ali Free Zone in Dubai?
– You are allowed to set up your business in the territory of the UAE.
– You are allowed to have your working office in the UAE.
– You can have a bank account in a local bank.
– You will be able to obtain resident or employment visas.
– Your ownership is entirely foreign.
– You get complete repatriation for your capital and earnings.
– You do not have to pay corporate tax.
– All your imports and exports are exempt from duties.
– You do not have to pay personal income tax.
Taking everything into consideration, it can be concluded that the Jable Ali Free Zone is a beneficial platform for foreign business. More than that, it has a range of advantages that make it even more attractive.
On top of that, the Jebel Ali Free Zone in Dubai offers many facilities that make foreign entrepreneurs’ lives easier. They include:
– Business Park
– Many offices
– Special showrooms for shopping
– It is possible to get a plot of land
– You can also find retail outlets just in case
What Is Important to Remember When Starting Your Business in the Jabalali Free Zone?
If you have decided on the free zone in Dubai, then you should remember some details. First of all, the list of documents you need to prepare before getting started, which are:
– A copy of a passport. The document can belong to a manager or a shareholder.
– The summary of your project. Be brief and precise.
The rest of the documents depend on what type of enterprise you set up. Secondly, do not forget that you should choose the licence you want to get. There are three main categories you can obtain in the Jebel Ali Free Zone. To be more precise:
– Trading licence. By getting this licence, you can import and export items, distribute them or hold a store. If these trading conditions are not enough for you, you can apply for a General Trading Licence, which provides you with additional opportunities.
– Service licence. It means that you can arrange services in the UAE. If you need logistic services, then you should get a Logistic Licence. It enables you to transport your items by sea, air, or land.
– Industrial licence. It lets you carry out all phases of your manufacturing process within the territory of the zone.
– Industrial licence. It lets you carry out all phases of your manufacturing process within the territory of the zone. When everything is more or less settled, you can apply to Worldwide Incorporation Service and select the package you prefer. The company has been providing professional aid to foreign business people since 1998. There are three packages. Each of them has overlapping features. However, some provisions are extra and require additional payments
– Standard package. $1990.
– Premium package. $3990.
– All in one package. $6490.
To Conclude
The Jebel Ali Free Zone is a heaven for entrepreneurs from all over the world. It turns offshore companies into legal and efficient institutions that are affordable for many people. If you want to get with the times, you should think of the possibilities this avenue has for you. Today offshore firms have become an engine for progress. It is not surprising, as we live in a globally fluid environment. Globalisation is not only a trend; it is a lifestyle.
Choosing this zone for running your business means that you are keen to maximise the benefit of your activities. Just be mindful of the details, and you will achieve everything you have ever dreamt of in the UAE. All the right conditions are in place, and the rules of the game are established. The only thing you have to do is get on board.
KGN Services | JAFZA Company | JAFZA Company Set Up
Tags: JAFZA Company Registration | JAFZA Company Formation | Company Formation in Jebel Ali Free Zone | Jebel Ali Free Zone UAE | Company Formation In JAFZA | Jebel Ali Free Zone Companies | JAFZA Company
[hfe_template id=’11159′]
Requirement to File Annual Return