Procedure to Setup a Free Zone Company in JAFZA

The western side of Dubai is home to the most well-known, established, and rapidly expanding free zone: Jebel Ali. The most customer-focused and service-driven free zone is universally acknowledged to be JAFZA. It presently has a dynamic base of over 7000 enterprises, giving over 135,000 jobs to people from more than 100 countries. It is on its way to becoming a significant global business hub, with a trade value of over $69 billion. For the establishment of free zone firms, Jafza offers an ideal site that is both strategically significant and conducive to business.

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

The following categories of free zone company formation are available in JAFZA:

1. Free Zone Establishment (FZE) & Free Zone Company (FZCO)

In JAFZA, a single shareholder may establish a free zone. A company or an individual can be a shareholder. As a limited liability partnership, each shareholder’s responsibility is capped by the amount of FZE shares he owns. The shareholder’s personal assets are safeguarded in FZE.

2. Free Zone Company (FZCO)

Unrestricted area In JAFZA, a company may be founded with as few as two stockholders and as many as fifty. Companies, individuals, or both types of entities may be shareholders. Reiterating that FZCO is a limited liability partnership, shareholder liability is capped at the company’s assets.

3. Branch Company

Businesses that were founded outside of JAFZA and have a current license and registration can open a branch there. The parent firm will own 100% of the branch, which will conduct business under its name while operating under its parent company’s name.

4. Special Status Non Resident Offshore Company

An individual or a firm may form an offshore company under the JAFZA Companies Regulations Act of 2013. It will be a non-resident business with corporate lawful status.

Procedure to Setup Free Zone Company

The JAFZA free zone company establishment procedure is a reasonably simple and rapid process. The first step is determining the kind of business you want to start. Then comes the application and documentation process, which is covered in more detail below. After completing all the stages, your business might be operational in about ten 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 office in JAFZA (in case of branch)

Following the submission of your paperwork successfully, your business will receive an initial approval. After that, you will decide which JAFZA ready-made office best suits your needs as a business. If you want proper fit out office services, you can also choose to work with JAFZA regulated contractors or handle it yourself.
You can pick up the office keys once the office is finalized and a lease agreement is produced.
After preparing and submitting legal paperwork to the appropriate authorities, you will receive a business license.

For the creation of free zone companies in JAFZA, IBR Group offers comprehensive services. We are among the top UAE-based business consulting firms. We provide a full range of business solutions for the establishment of free zones, including document preparation, submission to authorities on your behalf, help opening bank accounts, acquiring visas, locating local service agents when needed, and Arabic or English legal document authoring. Our area of expertise is business establishment in Dubai, and we offer investors who are interested in forming a Jafza company the ideal business model.

Disclaimer: Above all information is for general reference only and sourced from internet, before making any kind of decision please visit the authorized websites of authorities and service providers.