How to Start a Business in JAFZA?
Free zones come with the ability to provide investors with an excellent method of beginning a business in Dubai. This area is a more straightforward and more cost-effective alternative to the mainland of Dubai. When considering a Freezone to establish a business, then JAFZA freezone company setup should be on the the top of your area list where you can launch your business.
Jebel Ali Free Zone Authority, which is also known as JAFZA, has established itself as among the most prominent free trade zones in the United Arab Emirates. The area comes with top-notch business services and facilities that are state-of-the-art for both local and international companies.
If you are considering starting your business in the area of Jebel Ali Freezone company setup, then you have to invest your valuable time in this article. In this article, we are going to disclose the steps that you need to follow in order to start your business in JAFZA. Furthermore, we will discuss the benefits that you can available by starting your company in JAFZA.
So, without making more delay in our journey to the guide of starting a business in JAFZA. Let us get started.
Benefits of starting a business in JAFZA
JAFZA has reported a surprising growth of 30% in the registration of customers. It means that you can get the capability of targeting a wide range of potential customers. Apart from this data, you can avail yourself of uncountable benefits by starting your business in a business setup in JAFZA. Let us have a glance at the top benefits that you can get by starting your business in JAFZA:
- Low tax rate: The primary benefit of running a business in the JAFZA free zone is tax benefit. The company which is operating in JAFZA may benefit from a low corporate tax rate of 9% if its profit exceeds AED 375,000.
- Simple procedure: JAFZA also provides investors with a simple process for operating and business setup in JAFZA.
- Access to skilled employees: Skilled employees are the key to the success of every business. JAFZA provides you the freedom to hire a skilled workforce from the UAE. Furthermore, you can hire qualified employees from all over the world.
- Strategic location: JAFZA is also the ideal location for entrepreneurs who are thinking about expanding their business into other countries because it is situated at the intersection of Europe, Asia, and Africa. The free zone also provides you with access to the Jebel Ali Port, which is among the largest container ports that are available throughout the world.
- 100% foreign ownership: By business setup in JAFZA, you will get 100% foreign ownership of your business. JAFZA Free Zone permits companies to have 100% ownership of their corporation.
- World-class infrastructure: JAFZA free zone will provide you with high-quality manufacturing infrastructure and top-notch facilities, like office spaces, manufacturing facilities, and more.
Here is not the end of the advantages you can get with the Jebel Ali Freezone company setup. Apart from these benefits, you can get access to countless benefits from this free zone.
Step to start a business in JAFZA
After reading about the benefits of starting a business in JAFZA, we know that most of you are desperate to begin your company in this free zone. So, let us take a look at the steps that you should follow in order to get business setup in JAFZA:
➡️Choose the activities of your business
The first and foremost step that you should take in order to begin your company is to determine the type of activity for your business that you want to undertake in JAFZA. The JAFZA provides licenses for numerous business activities, like trading, e-commerce, and more.
You should also make sure that business activity is allowed in this free zone. Furthermore, this step will also decide the type of license you will be eligible for. However, there are some activities of business that all need physical office space. If your business activity requires physical office space, then you should register yourself with the relevant authority and look into the contract.
➡️Select an appropriate legal structure.
After choosing the type of business activities, you should consider selecting the appropriate leegal structure of your company. JAFZA allows uncountable legal structures for businesses, like Free Zone Establishment or FZE, Free Zone Company or FZC, and more. We recommend you seek advice from Flying Colour to determine which legal structure would be best for your business.
➡️Choose the company name.
After selecting legal structure and business activities, you should choose the name of your company for the JAFZA freezone company setup. You should carefully select the company or trade name to ensure that the name is unique, meets legal compliance, and is relevant to your business.
➡️Apply for a License.
The next step to start your corporation in JAFZA is to arrange all your documents, like passport copies, business plans, and more, and apply for your license. JAZFA provides a wide variety of licenses, including trading licenses, industrial licenses, and more.
You have to choose the best type of license that suits your needs. However, prior to applying for your business license, you may need to take initial approval from relevant authorities. Additionally, you might also need to lease an office space for the operation of your business.
➡️Register for visas
Once you obtain your license, you are also required to register for visas for yourself and the employees that you want to hire. However, JAFZA provides you with support services for visa processing.
➡️Open your corporate bank account.
At last, you are required to open a corporate bank account in the Bank of UAE for business setup in JAFZA. After opening your bank account, you have to deposit the minimum capital needed for your company in your corporate bank account.
How Flying Colour can help you
Flying Colour comes with the ability to provide you with valuable guidance for business setup in JAFZA. The company has a team of experts to help you set up your company in this free zone. Apart from setting up, we can also assist you in the seamless operation of your business in JAFZA.
To learn more about Eco-Friendly Business Ideas to Start in Dubai , book a free consultation with one of Flyingcolour team advisors, simply call +971 50 5585305 or send WhatsApp messages to +971 4 4542366. you can also drop an email to info (at) flyingcolour (dot) com.
*Please note that this article has been published on 01/12/2023 in accordance with the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
