The commitment of the car business towards the development and improvement of the UAE is tremendous. Dubai Auto Zone (DAZ) was started in the year 2000, to focus on the Asian and African business sectors for re-sending out of trade-in vehicles. It permitted organizations to complete exchange exercises at a global level, free of assessments. Situated in Al Ramool zone of Dubai, it is available by both air and seaport. It holds a strong network as its links the Middle East, African and Asian markets. The infrastructure has been built targeting entrepreneurs, new linkages, and modern road networks.
Companies in Dubai Car and Automotive City Free Zone
DUCAMZ possesses a region of around 1 million square feet and it fills in as a home to many car organizations. The free zone is kept up by Jebel Ali Free Zone Authority (JAFZA). It includes in excess of 400 vehicle organizations like Boeing International Corporation, AGMC, Legend Motors, Emirates Post, and so forth. Apart from the above mentioned, authorities such as Custom Inspection, Operations, Shipping Agencies and Dubai Ports Documentation are also present in this free zone.
How to Set Up a Company in Dubai Car and Automotive City Free Zone?
Setting up a business organization or registering a company in Dubai Auto free zone involves the following steps:
- Submission of an application form
- Stating the company name to be established
- Drafting the Articles of Association (AOA) [this document contains the reason why a company is set up and includes all the roles and responsibilities of the company members, internal proceedings of a company and can be drafted in the company registration agents in Dubai]
- Submission of the partner’s identification documents, bank details and residence proof in Dubai Registrar Office
- For registering a branch, the partner’s details and AOA of the parent company have to be submitted
Benefits of Business Setup in DUCAMZ
Setting up an organization in a worldwide market includes colossal danger. The approaches, rules, guidelines identified with the administration contrasts. This has been dealt with by Dubai Auto Zone (DAZ), with an intent to accumulate more unfamiliar speculators for the advancement of the economy. An investor investing in DUCAMZ is liable to enjoy the following benefits:
- Exemption from import duty taxes
- 100% ownership
- 100% repatriation of profits
- Skilled workforce
- Entry to international markets with strong network
- High administrative support
- Zero restriction in hiring foreign employees
- Zero restriction in the number of cars imported
- No individual or corporate tax