Established in the year 1996, Dubai Airport Free Zone is one of the fastest growing free zone in the region and a well-built investment for driving growth of the economy. Like many other free zones in the region, Dubai Airport Free Zone provides investors with 100% tax exemption, no currency restrictions and above all, full ownership of the business entity. The strategic location of Dubai Airport Free zone coupled with various government initiatives has made it one of the top performing free zones in the world. Also, DAFZA has been rated as one of the best economic zones for providing quality services, best IT infrastructure and communication support, warehousing and seamless other facilities.
Dubai Airport Free Zone is a business hub with a vast number of industrial sectors such as IT, electronic and electrical, networking and telecommunications, pharmaceutical and cosmetics, engineering and building materials, aviation, logistics, food and beverage, jewellery and cosmetics. With pre- built offices and world-class infrastructure, Dubai Airport Free Zone is one of the most remunerative locations for company formation.
LICENSES FOR COMPANY FORMATION IN DUBAI AIRPORT FREE ZONE
In order to establish a business in any of Dubai Free Zones, investors are required to obtain a business license that is appropriate for the activities they intend to undertake after company formation. Depending upon the type of business activity and requirements, investors need to choose one among the three types of licenses.
Trading License – This type of free zone license is for investors who intend to perform activities like import, export, distribution of goods, and storage of products. Under this license, companies cannot trade the products that are not specified or mentioned in the license.
Service License – This type of license allows the company or the license holder to carry out specific services that are mentioned under the license category.
Industrial License – Under this license category, a company is entitled to carry out light industrial activities like packaging and assembling.
TYPES OF COMPANIES TO SET UP IN DUBAI AIRPORT FREE ZONE
Depending on the business activity, investors can incorporate three forms of legal structures.
Free zone Establistment (FZE)
Free Zone Company allows a minimum of one shareholder and a maximum of fifty, either individual or company. In order to incorporate a free zone company, a minimum share capital of AED 1 million (USD 272,500) is required. Also, a free zone company is essentially a limited liability company.
Free Zone Company (FZCO)
This type of company structure allows a minimum of two shareholders and a maximum of five. Capital share requirements, in this case, are AED 500,000 (USD 136,000).
Branch Office of an existing company
Under UAE Commercial Company law (13) of 1988, a foreign enterprise can open its branch office in Dubai Free Zone to conduct business. In this type of business structure, there are no share capital requirements.