Dubai, the second largest emirate of the UAE, is a dynamic, multi-cultural city that is a leading city in multiple sectors.
Dubai, the second largest emirate of the UAE, is a dynamic, multi-cultural city that is a leading city in multiple sectors. The nation is heading towards establishing itself to a competitive knowledge economy. UAE government is trying to establish the nation as a tourist, economic and an industrial hub. The automobile industry is considered one of the biggest industries when it is counted in international business industries.
Dubai Car and Automotive City Free Zone (DUCAMZ)
The contribution of the automobile industry towards the growth and development of the UAE is huge. Dubai Auto Zone (DAZ) was initiated in the year 2000, to target the Asian and African markets for re-exporting of used cars. It allowed companies to carry out trade activities at an international level, free of taxes. Located in Al Ramool area of Dubai, it is accessible by both air and seaport. It holds a strong network as its links the Middle East, African and Asian market. The infrastructure has been built targeting entrepreneurs, new linkages, and modern road network.
Companies in Dubai Car and Automotive City Free Zone
DUCAMZ occupies an area of about 1 million square feet and it serves as a home to many automobile companies. The free zone is maintained by Jebel Ali Free Zone Authority (JAFZA). It comprises of more than 400 automobile companies like Boeing International Corporation, AGMC, Legend Motors, Emirates Post, etc. Apart from the above mentioned, authorities such as Custom Inspection, Operations, Shipping Agencies and Dubai Ports Documentation are also present in this free zone.
Benefits of Business Setup in DUCAMZ
Establishing a company in an international market involves huge risk. The policies, rules, regulations related to the government differs. This has been taken care of by Dubai Auto Zone (DAZ), with an aim to gather more foreign investors for the development of the economy. Licensing, administration, custom, and clearing services are taken care of. 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
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
29th April 2018
- Dubai Auto Zone expands its capacity, serving more than 440 companies, with a workforce of 2, 600
- It also builds a partnership with more than 35 countries, covering Afghanistan, Austria, and Pacific Islands, Asian and African markets
3rd July 2018
- According to BMI Research, 2018 will see a hike of 4% in the automobile sector in the UAE.
Thus, we see how the automobile industry is expanding its reach, and is expected to grow even faster in the near future. This attracts numerous business opportunities that could be carried out in the free trade zone. Establishing a business in a foreign land sets an international mark. Want to provide an international mark to your company as well? Yes? Sounds great! Well, the next step you need to take is to join hands with a catalyst that would help you in establishing your business. Business Setup Worldwide does exactly the same. We have a number of satisfied clients who have established their business foundations in different nations. Our senior business experts in different zones help you to clear out the legal proceedings and build your business foundation. For further proceedings, do contact us. We would be glad to assist you and help your business grow internationally.