Located in the United Arab Emirates, Jebel Ali Freezone is one of the most popular locations in the world for business creation. Jebel Ali Free Zone and offshore business structures are available in the Emirate of Dubai, which is located in the United Arab Emirates.
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Initiation
In 1985, His Highness Sheikh Rashid Bin Saeed Al Maktoum officially opened the Jebel Ali Freezone, which consisted of just 19 businesses. Today, however, the trade zone is a premier commercial jurisdiction, home to hundreds of multinational and global wealthy businesses, as well as government agencies. It also provides assistance to small and medium-sized enterprises (SMEs) and single proprietors in the area. The Jebel Ali Freezone, commonly known as JAFZA, has developed into a diverse commercial base that contributes significantly to the Dubai economy. The Jebel Ali Free Zone is home to businesses from more than 100 nations, resulting in thousands of employment opportunities and drawing foreign direct investment.
Advantages of Having Jurisdiction
The cargo airports in Jebel Ali Free Zone are the biggest in the world.
The area is also home to the Jebel Ali Sea Port, which is the world’s seventh-largest container port by capacity. The Jebel Ali Freezone is strategically located in the most accessible area.
Certification by the International Organization for Standardization (ISO) Jebel Ali Freezone provides pre-built warehouses, offices, and world-class commercial infrastructure alternatives for companies looking to expand or relocate.
In addition, the Jebel Ali Freezone allows for 100 percent foreign ownership and has strict taxes regulations.
There are no limitations on the repatriation of money and earnings, and there are no currency restrictions in the area.
In addition, the Jebel Ali Freezone grants long-term authorization to mortgage, lease, and own property on leased land.
In its proposals, Jebel Ali Companies emphasises certain distinct advantages, such as access to plentiful energy and the ability to operate at a low cost for manufacturing and industrial units.
Furthermore, the site provides excellent connection possibilities, and the trade zone is spread across a large geographical region, making it feasible to accommodate a large amount of warehouse space.
Before establishing a business in the Jebel Ali Freezone, it is necessary to consider a number of factors.
A business established in Jebel Ali freezone requires the acquisition of several licences, including a General Trading License, Trading License, Service License, and National Industrial License, depending on the nature of your company’s activity. The first thing to consider is licencing.
Free Zone Establishment (FZE) and Free Zone Business (FZCO) – Applicants for FZE and FZCO may take advantage of JAFZA’s one-of-a-kind offer to establish a company that will operate as a distinct legal entity.
In order to establish a FZE, a single shareholder must provide a minimum capital of AED 1 million. An FZCO may be established with as few as two shareholders and a minimum capital of AED 500,000, depending on the country. Other possibilities include the establishment of a Branch Company or the establishment of Special Status Non-Resident Offshore Corporations.
As a result of its trading operations, the JAFZA has also reached a significant milestone in terms of revenue generation. The area has had a major impact on a variety of different industries, including transportation, hospitality, tourism, and others.