Form of government:Federal Monarchy
Area:83 600 км2
Jebel Ali Free Economic Zone
Features of JAFZA:
- no taxation;
- no currency control and regulation;
- High level of confidentiality is provided. The lists of directors and shareholders are closed, which can be disclosed only by court order;
- the right to resident visas for each of the companies;
- no customs duties;
- It is located in the port Jebel Ali - one of the world’s best ports;
- The best choice for those who are going to be engaged in the supply of goods to the market of the Middle East and North Africa;
- fast and fairly easy registration procedure;
- there are lots of logistics companies in the free zone of JAFZA.
Company type in Jebel Ali:
- сompany in the free economic zone FZCO (Free Zone Company) - 2-50 shareholders;
- The company in the free economic zone FZCO (Free Zone Company) - 2-50 shareholders;
- Public Listed Company (PLC) - minimum two shareholders;
- Representation of an existing company (Branch).
Type of license in Jebel Ali:
It allows the holder to provide services that are specified in the license, within the free zone. Logistics license allows firms to be involved in such activities as cargo transportation (sea, land and air), as well as warehousing, packaging, transportation, distribution. Service license can only be provided to the offices of already existing “local” companies.
It allows the holder to import and export, store and sell those goods that are specified in the license. It is also possible to issue a General Trade License that allows you to trade quite a wide range of goods. The production license allows the holder to import raw materials, permits to produce certain products and export finished products. There is also a National Production License, which is issued to manufacturing companies 51% of which (minimum) belong to the Arabian Gulf Co-operation Council (AGCC). Such licenses give the holder the same status as “local” companies or AGCC have within the UAE.
License for e-commerce
It allows you to conduct trading activities or provide services to the Internet through electronic means. Essentially, an e-commerce license in the UAE.
License for companies that plan the development of innovative products and services.
Authorized capital in Jebel Ali:
Authorized capital on registration of FZE or FZCO
- There is no minimum authorized capital. The amount of the authorized capital depends on the activities of the company;
- The capital should be divided into shares and paid in full (in some cases partial payment of shares is permitted).
Authorized capital when registering a PLC
- The amount of the authorized capital depends on the activities of the company;
- The authorized capital must be divided into shares;
- A minimum of one-fourth of the declared authorized capital is required to be paid.
Director of the company in Jebel Ali:
Individual directors are allowed on the territory of the free economic zone. At least one director is required for the company, while at least two directors are required for the Public company.
Manager of the company in Jebel Ali:
According to the legislation, when registering a company, a manager is required, which may be one of the shareholders, directors, secretary. There are no requirements for the residence of the manager.
Office: you need to rent a real office. It is possible to use the office of the business center. The minimum area of the real office is 26.88 sq. m.
Visas: each company has the right to a visa. The number of visas depends on the size of the office (approximately 1 visa for every 9 square meters of the area).
Reporting: Each company must maintain reporting which is sufficient to show and explain each transaction of the company. Within three months, from the date of the end of the fiscal year of the company, a copy of the annual report must be submitted to the registrar. The first “fiscal year” of each company begins with the date of its registration, which is specified in the Certificate of Registration. The owner can determine the duration of the fiscal year by issuing the Owner’s Decision, taking into account that the duration of this fiscal year can not exceed 18 months and can not be less than 6 months.
Additional services in JAFZA:
The administration of the free economic zone Jebel Ali offers additional products for companies registered in the Free Zone. It is about the possibility of leasing plots with an area of 5000 sq. m., lease of exhibition space, warehouses, shopping pavilions, as well as housing for company employees.