Key Benefits of JAFZA Company Setup
Benefits of JAFZA Company Setup
The Jebel Ali Free Zone Authority (JAFZA) is among the best places to establish your business in the world. You can enjoy countless benefits by setting up a company in JAFZA Free Zone. We are sure you might be wondering about the advantages of setting up your business in this attractive area. If so, you must sit back and spend time with us and read this article to explore the advantages of beginning your company in UAE.
JAFZA Free Zone – Overview
The JAFZA Free Zone was established within Decree No. 1 of 1985. It is an economic zone in the Jebel Ali in Dubai, UAE. It is authorized by the JAFZA authority. Whether a corporate entity is permitted to operate within the region or a contractor working for such entities, the Jebel Ali Free Zone laws, circulars, and rules govern all of them.
JAFZA Free Zone is developed under the DP World flagship and is a significant custom-bonded zone in the Middle East. The region is near the Dubai Expo 2020, Jebel Ali Port, as well as, Al Maktoum International Airport, which makes it the perfect location to start your business if your organization is involved in global trade.
Today, it is a dynamic zone for thousands of organizations from more than 150 countries. They provide more than 130,000 jobs and attract 23.9 percent of foreign direct investment (FDI) in Dubai.
Top key benefits of establishing a company in JAFZA Free Zone
JAFZA provides business owners like you with countless benefits. These advantages may also help you take your company to the new height of success. However, discussing all of them might be difficult in a single post, but we have mentioned below the top benefits of starting your organization:
1. Have all essential resources
JAFZA Free Zone has all the necessary resources that you want to operate your business. The availability of essential resources reduces your expenses and multiplies your profits through an accessible supply chain that meets your expectations and addresses your organization’s challenges.
2. Deals with different industries
There are countless industries that thrive and grow in this region. Petrochemicals, logistics, oil plus gas, food & agriculture are some of the top-growing sectors in this area. With the existence of more than 9000 businesses, this zone is developed in order to support all kinds of industries.
3. Thriving Economy
You will get access to the thriving economy by beginning your business in JAFZA Free Zone. It accounts for almost 32 percent of the Federal Direct Investment (FDI) flow in the nation. This zone also contributes 21 percent to the GDP of Dubai every year. The area also encourages the employment of over 144,000 individuals in the United Arab Emirates (UAE). Hence, setting up your organization can be very lucrative in JAFZA.
4. 100% Foreign Ownership
If you are a foreigner who wants to kick-start your organization, then Jebel Ali Free Zone (JAFZA) can be the right place for you. This free zone allows you to enjoy 100 percent ownership of your business. It removes the requirement to involve any locals in the formation of your business.
5. Allow different activities
You can conduct uncountable business activities if you intend to begin your business in JAFZA. Remember, the type of business activities you will choose dictates the types of licenses and the most appropriate facility you need. The three common types of business activities are mentioned below:
- Service
- Trading
- Industrial
Apart from these sorts of activities, you can conduct other activities also.
6. Let you open more than one company
You can apply for the formation of more than one company in JAFZA Free Zone. Remember, each business will be treated as a separate company name. However, the shareholder can be the same or one person or company of both formations. It means that there is no restriction on the number of organizations that you can incorporate.
7. Variety of business license
Whether you want to start an e-commerce company or a trading business, the JAFZA offers a wide range of licenses to allow you to conduct your preferred business activities. The type of license for your corporation depends on the activities you want to perform within your company. We have outlined the types of licenses available in this jurisdiction below:
- Trade License: The trade license lets you import, export, and distribute products mentioned in your license.
- General Trading License: It lets you access countless activities and a broader range of products.
- Industrial license: This allows you to import raw materials, conduct manufacturing of specific products, and export the final products to other nations.
- Logistic License: This allows you to conduct specified logistic services, like transportation, storage, order management, and more.
- National Industrial License: This is issued to manufacturing businesses with 51 percent (Gulf Co-operation Council) GCC ownership.
- E-commerce: With the help of this license, you can carry out activities involved in buying and selling goods or services through electronic networks or the Internet.
The existence of these licenses has made it an ideal place for a wide number of entrepreneurs to kick-start their businesses.
8. Fast process
The procedure of setting up a company in JAFZA is fast. The estimated time to complete the process of starting a company is three to fourteen business days from the time all needed documents are submitted based on several factors, including the type of company and license.
9. Capital repatriation
There is no restriction or limitation on the capital repatriation of the capital you make from your organization. This means you can take back all your profits to your home country without any limitations.
10. Save money
You can also save more money in this region as you will enjoy no corporate tax in certain cases and no personal income tax. In addition, there are no 0% re-export and import duties. All these factors will lead to more savings and enhanced profits.
How can Flyingcolour Business Setup help you?
JAFZA is among the ideal locations to establish a company in UAE. As we discussed above, you can enjoy countless benefits by starting your business. However, you need to go through a complicated procedure for this purpose. Flyingcolour Business Setup will tell you the easiest path to begin your business here. Our experts will also assist you at each step while performing this process.
To learn more about the Benefits of a JAFZA Company Setup, book a free consultation with one of the Flyingcolour team advisors.
Please note that this article was published on 25/07/2024 by the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
