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HOW CAN YOU SET-UP COMPANY IN DUBAI SOUTH?

Dubai World Central Free Zone which has recently been changed to “SET-UP COMPANY IN DUBAI ” as it indicates the locality surrounding the freezone. This prospectively designed freezone opens opportunity for companies working in aviation, healthcare, logistics, leisure, import-export, tourism, and other sectors focusing on large spaces. Freezone close proximity with Al Maktoum International Airport and Jebel Ali Seaport offers an edge with other free zones when compared with transportation and logistics.

If you are considering Dubai South for your import-export or trading business, you have come to the right place. Business set-up lawyers of Dubai will explain every aspect of this free zone starting from its facilities, the time-period to establish the business and the prerequisites.

Dubai South was established in accordance with Dubai Law 8 of 20026 which was further amended in 2015. Alike other free zones, Dubai South is governed by its own rules and regulations issued in the year 2010. In lines with the legal framework, Dubai South has a parallel arrangement with Jebel Ali free zone (JAFZA) and Dubai Airport Free Zone (DAFZA) that allows companies to freely move their freights between these three freezones and utilize facilities provided by Al Maktoum Airport Free Zone. In addition, for all the areas where the rules and regulations of Dubai South are silent, the UAE local laws for instances UAE commercial companies law, UAE Labor Law and UAE civil law shall apply for governing such matters.

Establishing the Company!

Setting up a company or leasing a warehouse in Dubai South requires a business plan outlining the agenda behind your business in specific and prescribed format. The free zone might further ask additional documents confirming a background information depending upon the type of activity to be performed. Upon receiving preliminary approval on the business plan that usually takes 15 days from the date of filling the application, the incorporation and registration process will begin before the authority. The authority in the said process would primarily require following documents:

  1. Passport copies of the shareholders.
  2. Trade license (if the shareholder is a corporate entity).
  3. Shareholder’s share distribution.
  4. Approved activity.
  5. Warehouse or leased space requirements.
  6. Any other additional document or approval required by the authority.

Importantly, the companies can only perform activities that are explicitly mentioned in the license. The companies under specific license will be required to maintain the minimum capital of AED 300,000, however, which gets amended from time-to time and the activity chosen by the company.

Advantages of having company in Dubai South

  • Dubai South offers a 100% foreign ownership to companies established and does not anyway restrict the return on capital generated by the companies in the said region.
  • The parallel arrangements with other free zones in the area offers a restricted movement of goods between the free zones which is not usually allowed in other free zones.
  • The companies established in this free zone are exempted from any tax liability whether it is corporate or income tax and for 50 more years from the date the company is registered.
  • Companies are free to set-up a bank account anywhere in the UAE.

SET-UP COMPANY IN DUBAI authority further assist companies in seeking additional approvals from Dubai government for instance Civil Aviation Authority or land department, if needed.