There are more than 40 free zones in the UAE and each of them is purpose-built to cater to certain exclusive business sectors. Dubai World Trade Centre is a unique free zone in Dubai providing business set-up opportunities for the event industry. The landscape of business setup in Dubai World Trade Centre offers a unique proposition for foreign investors eyeing an effective and well-regulated free zone ecosystem.
The free zone is strategically located at Sheikh Zayed Road, one of the prominent highways in the country. The unique location offers excellent connectivity to other emirates and trading hubs. The free zone also offers unique corporate structures including Family Offices. Investors can consult with business setup consultants in Dubai to quickly leverage such attractive benefits. Read ahead to know more about the free zone.
Types of Licenses in Dubai World Trade Centre
The process of business setup in Dubai World Trade Centre offers foreign investors to engage in a diverse range of business activities and lucrative sectors. Investors need to identify and choose the right trade license to leverage the benefits of business activities. Business set-up consultants in Dubai can help entrepreneurs to select a license. The following business licenses are permitted by the Dubai World Trade Centre Free Zone:
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A commercial license in Dubai World Trade Centre is essential to carry out commercial activities specified in the license. The license mainly allows the trading of a limited number of similar goods.
General Trading License
Investors who wish to carry out unrestricted commercial activities can apply for a general trading license at Dubai World Trade Centre. A general trading license allows the trading of a diverse range of goods.
Dubai World Trade Centre issues a professional license for investors to wish to carry out professional services activities such as consultancy, salons, accounting services etc. Business setup consultants in Dubai can assist investors in obtaining a professional license without any hassle.
Event Management License
An event management license in Dubai World Trade Centre authorises license holders to organise business events and leisure events. Since World Trade Centre is a free zone built for the event industry, business owners can conduct events seamlessly.
Entrepreneurs who wish to trade goods through an online platform must obtain an e-commerce license. An e-commerce license issued by Dubai World Trade Centre gives the investors to tap into the billion-dollar worth of e-commerce market.
A single-family office license authorises the formation of offices by family members to manage and service the wealth of a single-family. A Single-Family Office can be registered in Dubai World Trade Centre as a regular Free Zone Establishment (FZE) or Free Zone Company (FZCO).
A Multi-Family Office authorises the formation of offices founded by consultants, professional service providers or advisory firms to provide wealth management services to multiple families. A Multi-Family Office in Dubai World Trade Centre can be incorporated as a regular FZE or an FZCO. Business setup consultants in Dubai can help investors register a multi-family office.
Types of companies in Dubai World Trade Centre
The option for business setup in Dubai World Trade Centre comes with highly competitive packages. The free zone also offers multiple legal entities to enable investors to have more shareholders. Depending on the number of shareholders, investors can incorporate the following types of companies in the Dubai World Trade Centre:
Free Zone Company
Investors can form a Free Zone Company (FZCO) in Dubai World Trade Centre Free Zone with two to ten shareholders. The shareholders can be individuals, companies or a combination of both.
Free Zone Establishment
A Free Zone Establishment (FZE) can be incorporated into Dubai World Trade Centre with a single shareholder. The Shareholder can either be one individual (person) or one non-individual (company).
Foreign Branch Company
Companies established outside the UAE can open their brand office within Dubai World Trade Centre Free Zone. A Foreign Branch Company is legally dependent on the parent company. A brand must carry out all or some of the activities of the parent entity. The Branch Company must be 100% owned by the parent company. Foreign investors with access to company setup services in Dubai can easily form a branch company within the free zone.
UAE Branch Company
Companies registered with a UAE licensing authority can open their branches within Dubai World Trade Centre free zone. A UAE Branch is not legally independent from its parent entity and must carry out all or some of the activities of the parent company.
Office Space Facilities in Dubai World Trade Centre
Every business needs facilities that perfectly align with their requirements and are available at affordable rates. Operating in the right facilities will positively impact the day-to-day functioning of every business. Dubai World Trade Centre offers the following facilities for entrepreneurs:
- Offices Shell & Core
- Fitted out & Custom Build Offices
- Serviced Offices, Virtual Offices & Hot Desks
- Retail Outlets
Process of Business Setup in Dubai World Trade Centre
The process of business setup in Dubai World Trade Centre is simple, flexible and affordable for foreign investors. The process of company incorporation in Dubai World Trade Centre can be completed if easy steps, given all the documents are submitted in compliance with the free zone regulations. Business set-up consultants in Dubai can help investors to arrange every mandatory document without fail. Refer to the following steps to register a company in Dubai World Trade Centre:
- Select business activity
- Choose a trade name for the proposed company
- Select the legal structure
- Submit applications
- Receive initial approval
- Submit final documents
- Obtain lease & finance
- Apply for a visa
- Open a bank account
- Commence business operations
Benefits of Business Setup in Dubai World Trade Centre
Company formation in Dubai World Trade Centre is one of the best options for foreign investors to enter the lucrative markets of the Middle East region. The licensing procedures are simple, and regulations are transparent. Moreover, entrepreneurs can avail of business setup services in Dubai to expedite the incorporation process. Apart from these, other key benefits offered by the free zone are listed below:
- 100% foreign ownership
- 100% repatriation of capital and profits
- Strategic location
- Zero income tax and corporate tax
- No restriction on hiring foreign employees
- Availability of dual licensing in collaboration with the Department of Economic Development (DED)
- Access to global events such as Gulfood, Automechanika, Gitex etc.
Compliance Requirements in Dubai World Trade Centre
Investors should disclose the details of the company’s Ultimate Beneficial Owner (UBO) while setting up a business in Dubai World Trade Centre. UBO obligations include submission and maintenance of the Real Beneficiary Register (RBR) and Partners or Shareholders Register (PSR). They should also annually assess whether they fall within the scope of Economic Substance Regulations (ESR). If yes, the companies must meet requirements such as ESR Notification filing, ESR Report submission and meeting the Economic Substance Test with reference to the Relevant Activity they carried out in the UAE.
The Relevant Activities include Banking business, Insurance business, Lease-Finance business, Investment Fund Management business, Shipping business, Holding Company business, Headquarters business, Distribution & Service Centre Business and Intellectual Property (IP) business. Furthermore, the companies must meet their obligations under Anti-Money Laundering and Combatting Financing of Terrorism (AML-CFT) if applicable. Consult business setup consultants in Dubai to ensure compliance with ESR, UBO and AML-CFT.
Choose the Best Business Setup Services in Dubai, UAE
The landscape of business setup in Dubai World Trade Centre is conducive to businesses of all sizes including startups, SMEs and big corporate groups. Even though the free zone offers a flexible licensing process, the incorporation process will be seamless by availing of the best business setup services in Dubai offered by Jitendra Business Consultants (JBC). JBC is one of the leading business setup consultants in Dubai with years of experience in company formation.
We have a team of highly qualified business setup advisers well-versed in UAE immigration laws, labour laws and free zone regulations. Our consultants will help foreign investors establish a physical presence in Dubai without any hassle. JBC’s business setup services include PRO services, bank account opening, document drafting & translation etc. We also provide compliance services such as ESR, UBO and AML-CFT. Contact our team today to ensure seamless company incorporation in Dubai.