Everything You Need to Know About Company License in JAFZA
Written By Antima – 23rd July’21
JAFZA is the Middle East’s most important business Centre.
Jebel Ali Freezone is now one of the region’s most powerful brands, representing quality, innovation, and the power of collaboration. It was also the first free zone in the world to receive ISO accreditation in 1996.
It focuses on building long-term connections with customers. It encourages international investors to form alliances by offering world-class infrastructure, as well as quality-driven value-added services and incentives, allowing them to take advantage of the region’s vast economic prospects in the most organized way possible.
Free Zone Establishment (FZE) and Free Zone Company (FZCO): Applicants for FZE and FZCO can take advantage of Jafza’s unique offer of becoming a distinct legal entity. A single shareholder can create an FZE, whereas two to five owners can create an FZCO.
Non-Resident Offshore Companies with Special Status: The Jebel Ali Free Zone Offshore Companies Regulations 2003 allow persons or corporate organizations to establish an Jebel Ali Dubai Offshore company as a non-resident organization with a corporate legal entity.
Following documents are required to set up a company in JAZFA:
- Application & EHS Application form
- Passports copy of each Individual
- Project Summary
- Letter from company to open branch company in JAFZA (In case of Branch Company formation)
- CV of shareholders
- NOC from the sponsor for UAE residents applicants
- A one-time non-refundable application fee of AED 500
Types of JAFZA licenses available
JAFZA grants a variety of business permits.
- General Trading License– The holder of a General Trading Licence can import, distribute, and store any goods following Jafza’s laws and regulations.
- Trading License- The holder of a Trading License can import, export, distribute, and store the products listed on the License.
- Industrial License- The holder of an Industrial License can import raw materials, manufacture defined items, and export the final product to any nation.
- Service License- The holder of a Service License is permitted to carry out the services specified in the License inside the Free Zone. The kind of service must comply with the parent company’s license, given by the Emirate’s Economic Department or Municipality.
- National Industrial License- Manufacturing enterprises with at least 51 per cent ownership or shareholding by AGCC (Arabian Gulf Co-operation Council) nationals/natives are eligible for a National Industrial License. The value added to the item in the Free Zone must be at least 40% of its actual worth. Within the UAE, the holder of this company license has the same status as a local or AGCC.
Steps of Company Setup in JAFZA
The procedure for forming a corporation in JAFZA is straightforward if the following paperwork is submitted to the Jebel Ali Free Zone Authority:
1. a completed application form;
2. a copy of the shareholders’ and managers’ passports;
3. a business plan;
4. proof of payment of the application fee.
The Certificate of Registration and a decision of the management board must be filed with the relevant authorities in the event of a foreign corporation creating a JAFZA Company Formation.
By following a few simple steps, you can open a company in JAFZA. It is advised to seek help from professionals when planning for a company setup.
How Radiant Biz helps you
In matters like Company registration in UAE, people tend to get confused and get in chaos due to several rules and requirements. This is the time when people tend to look for an expert. A lot of confusion can be avoided if guidance is taken from the very beginning. Every venture may have unique requirements like location, customer convenience, logistical feasibility,, and banking services.
Radiant Biz team strives to understand these unique precepts and provide expert and reliable consultation to our clients with updated laws and governing regulations, awareness of their rights, and cost-effective business solutions tailor-made to their business needs and budget.