Company Formation in Dubai Airport Free Zone

Among the other free zones in the territory, DAFZA is considered as the fastest growing free zone in the Emirate of Dubai for business setup in Dubai. Established in 1996, initially for the airline companies and now is home to more than 1500 big companies from varied business sectors such as Logistics, telecom, IT, Pharma and much more.
DAFZA’s highly equipped infrastructure, well-trained and dedicated employees attract the majority of companies in the aviation sector. The free zone offering onsite customs clearance facilities aiding the goods and cargo clearance process makes it an exceptional place for shipping and aviation companies.
Company formation in DAFZA requires business license appropriate for the activity investor wishes to undertake. Considering the business activity one must choose among the three types of license, the free zone offers i. Trading license, allowing to perform activities related to distribution and storage of goods, import and export etc. and not allowed to conduct activities not mentioned in the license; ii. Industrial license, allowing simple industrial activities such as packaging; iii. Service license, which intends to allow
certain services mentioned in the license. Post deciding the type of activity and license, an investor with all his due diligence must opt suitable type of entity for their business structure. The free zone provides liberty to the license holder for incorporating any form of legal structure amongst the three forms as follows:
1. Free Zone Establishment (FZE)- FZE having all features of a limited liability company (LLC) allows, minimum of 1 and maximum of 50 shareholders, either company or individual with a minimum share capital of AED 1 million.
2. Free Zone Company (FZCo)- FZCo allows minimum 2 and maximum 5 shareholders along with minimum capital of AED 500,000.
3. Branch office- Foreign enterprises seeking for a branch setup for existing company are allowed with no share capital requirements.
The documents required to be submitted for establishing your presence in DAFZA includes an application form, business plan, letter of intent, audited financial report, company profile, bank statement, reference letter from the bank, resume and passport copy of the shareholder, resume and passport copy of the manager, attested power of attorney (POA) and specimen signature. The documents aforementioned are required to be notarized and must be submitted within the set time frame without causing any undue delay. Post submitting the above-mentioned documents, the free zone authority starts processing the application and within 25-30 working days completes the whole
process and acknowledges your presence in the free zone.

via Company Formation in Dubai Airport Free Zone

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