Dubai World Trade Center (DWTC) is a free zone reaching out over a million square feet, known for its worldwide exchange fairs, customer shows and fantastic shows, inviting over 2.7 million guests from 160 worldwide business sectors yearly. DWTC free zone was set up with an intent to convey an adaptable business-helpful condition to organizations contend considerably more viably territorially and around the world. Being situated inside the famous Dubai World Trade Center and near Al Maktoum International air terminal in Dubai, DWTC free zone is inviting financial specialists from everywhere the world. It is managed by the DWTC Authority giving an interesting and exceptionally attractive recommendation for organizations inside its free zone. This free zone in Dubai gives solid impetuses to multinationals to utilize Dubai as a stage to go into neighborhood and local business sectors.
How to Set Up a Business in DWTC?
The Authority provides world-class facilities to surpass customers expectation.it welcomes over 2.74 million visitors from 160 global markets every year providing them the international standard and quality driven services. Spread across million square feet of multi-purpose spaces, the world has witnessed more than 500 events hosted by DWTC. Giving hope to many investors, the authority has simplified the procedures to set up business in this free zone.
Procedure to Set Up a Business in DWTC Free Zone
- First, you need to decide on a business activity to get a license from the authority
- Select a unique name to your company avoiding reference to any religion or political organizations
- Submit relevant documents and fill the form to get your business license
- Pay a certain amount of fees for registration and licensing to the DWTC authority
Documents Required to Set Up a Business in DWTC Free Zone
- Application form for initial approval
- Each shareholder’s profile
- Detailed business plan
- Board resolution asking for the interest to establish a branch
- Passport copies of directors, general manager, and shareholders
- Shareholders from UAE need to submit Emirates ID copies
- Share capital deposit form from the bank
- Original copy of incorporation certificate (attested and notarized)
- Notarized and attested power of attorney
- Good standing certificate, if applicable
- Memorandum of Association of parent company, in case of a branch
- License copy of parent company, in case of a branch
Benefits of Setting Up a Business in Dubai World Trade Centre Free Zone
DWTC offers the following benefits to companies:
- Provision of 100% foreign ownership
- No tax on export
- No corporate or income tax for 50 years, with the concession being renewable
- No customs duty
- No restriction on repatriation of capital
- Simplified incorporation process
- Free flow of currency
- Stable and clear regulations
- One-stop shop for all government services
- Simple incorporation process
- No restriction on hiring foreign employees
- Adaptability to decide item or administration costs and the overall revenue wanted
- Opportunity to start multi choices for legitimate working structure
Different kinds of Business Licenses Provided by DWTC Free Zone
One can choose any one of the following business licenses to set up business in DWTC free zone:
1. Service License
This allows an entity to carry out services specified on the license within the free zone and elsewhere in UAE.
2. Event License
The holder of this license can organize meetings, conference and exhibitions.
3. Trade License
A trade license allows the registered entity to conduct activities related to import, export, distribution, and storage of specified products mentioned in the license.
Services Provided by DWTC Authority
1. Registration Services
The authority provides assistance in all company registration processes.
2. License Services
This service counter helps you in license-related issues, including issuance and renewal, amendment and cancellation of license.
3. Immigration Services
Issuance and renewal of visa.
4. General Administration Services
These include services such as maintenance of register and issuing No Objection Certificate (NOC).
5. Miscellaneous Services
the extra services done by DWTC are of the following;
- Notarization and attestation of documents by a registrar
- Changes in ownership of a business, or transfer of shares and share capital
- Changes to registration of a business
- Issuance and renewal of licences and business permits
- Issuance/renewal of visas and entry permits