Documents Required for Setting Up an FZE Company in JAFZA

by Zaara 18, Jun 2018

Documents Required for Setting Up an FZE Company in JAFZA

Jebel Ali Free Zone is one of the most popular, oldest, and fastest growing free zone located on the western side of Dubai. It is widely recognized as the most service-driven and customer-oriented free zones in Dubai. Spread over an area of 48 sq. km and home to over 7,000 companies, JAFZA is in the process of becoming a major business hub of the world. JAFZA provides a key strategic location and excellent logistics infrastructure and business environment for the formation of free zone companies.

A Free Zone Establishment (FZE) can be formed by a single shareholder in JAFZA. A shareholder can be an individual or a corporate entity. One can form a limited liability company in JAFZA free zone, meaning essentially that the liabilities of the company are limited to the company’s assets; the personal assets of the shareholder are protected in an FZE. Jebel Ali Free Zone company registration has been made easy by the officials by asking for a fewer number of documents and having a simple process.

Free Zone Establishment in JAFZA

Free Zone establishment can be formed by a single shareholder in JAFZA offshore. A shareholder can be an individual or a company. It is a limited liability partnership whereby the liability of a shareholder is limited to his shares in FZE. Personal assets of a shareholder are protected in FZE.

Benefits of Setting up an FZE in JAFZA

  • 100% foreign ownership
  • 100% repatriation of capital and profits
  • Minimum capital investment is not required
  • Liability of a shareholder is limited to one’s paid-up share capital
  • No restrictions on currency exchange
  • Exemption from personal income tax
  • No corporate tax (for 50 years, and renewable)
  • No import or re-export duty
  • Direct access to a global consumer market of more than 2 billion people
  • Already built factories and warehouses
  • No restrictions on hiring foreign employees

Documents Required for Setting up an FZE in JAFZA

  • Application form for free zone company setup
  • Passport of the selected manager, plus a copy
  • Passports of all the individual shareholders, with copies
  • No-objection letter from the current sponsor of each UAE resident shareholder
  • Summary of the project
  • Application form and letter of undertaking for Environment Health and Safety (EHS)

Additional Documents Required for Individual Shareholders

  • Business profile of each shareholder
  • Board resolution to set up a company
  • Manager’s specimen signature

Additional Documents Required for Non-Individual Shareholders and for a Branch of a Foreign Company

  • Specimen signature of the manager, attested by JAFZA
  • Attested and notarized Memorandum (MOA) and Articles of association (AOA)
  • Certificate of Registration
  • Copy of Chamber of Commerce certificate (in case of a branch)
  • An official letter from the parent company to set up a branch in JAFZA (in case of a branch)

After successfully submitting the aforementioned documents, you will be issued with an initial approval by the free zone authority, after which you are free to select an office space that caters to your business requirements. For a free zone establishment, the total fee structure is as follows:

Particulars

Cost in AED

One-time registration

10,000

MOA and AOA (min 3 copies)

200 each

Specimen signature attestation

 50 per person

Attestation of board resolution

 200

Procedure for Business Setup in Jebel Ali Free Zone Authority (JAFZA)

With the registration process, you will be able to know where and how your set of documents will be used. The steps are –

  1. Fill up a company setup application form
  2. Submit passport to the JAFZA Dubai
  3. Provide the original passport as well as a copy of the manager and shareholder
  4. Get a NOC from the sponsor in case of the UAE resident shareholder
  5. Write up and submit a Project Summary, the EHS (Environment Health and Safety) Application and the EHS Letter of Undertaking
  6. Draft a business profile of the shareholders
  7. Draft a Board Resolution to establish a company
  8. Submit as specimen signature of the appointed manager/shareholder
  9. Specimen signature of Manager attested by JAFZA (in case of a solitary company or non-individual shareholder)
  10. Pay fees
  11. Obtain JAFZA trade license
  12. Get documents for renting an office in the free zone
  13. Make an application for a visa

Following these steps will help you setup a JAFZA company in Dubai.

Several solitary companies and single shareholders seeking a chance to set up a company in UAE free zone should definitely opt for Jebel Ali Free Zone due to tremendous opportunities provided by this free zone authority to start-ups. Customized networking, global connectivity, a productive environment, and simplified operations are a few of the many perks of setting up a company in JAFZA Jebel Ali Free Zone. If you have already started planning for the same, you might also need the help of a consultant who can help you with all the doubts you may be facing during the process. We at Commitbiz help our clients with FZE JAFZA offshore company formation, an economic zone that symbolizes entrepreneurial dynamism, innovation, transparency in operations, and customer-centric procedures. Contact us to set up your business in Jebel Ali Free Zone Authority, our team will be glad to assist!