Doing Business in UAE - Morison Menon

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Dubai Industrial City (DIC) Location Promoters Size Zoning in DIC Land Rent Lease Period Ownership Features: International Standards Close to proposed Jebel Ali International Airport Dubai Holdings 560 million sq. feet • Zone 1 Food and Beverage • Zone 2 Base Metals • Zone 3 Mineral Products • Zone 4 Transport Equipment and Parts • Zone 5 Machinery and Mechanical Equipment • Zone 6 Chemicals • Zone 7 Logistics Zone (Trans PARK DUBAI) • Zone 8 Academic Zone AED 2.5 - 3.00 per sq.feet [US$ 0.68 - 0.82] (Minimum 100,000 sq.ft to be leased) Activities in Dubai Industrial City will be governed under international safety, quality & environmental standards. Dubai Industrial City will introduce the Dubai Quality Mark (DQM) for products manufactured in the city. Industrial Fund Dubai Industrial City is setting up a multi-million dollar fund to provide financial products tailored to the needs of the industrial sector. The fund is being set up in conjunction with leading banks, investment houses and prominent business groups in the region. The fund will be managed by globally renowned industrial fund managers. Advanced Logistics: TransPARK - Dubai 30years, renewable for further 50 years 51:49 (100% foreign ownership is at proposal stage) One of the major segments and attractions of the Dubai Industrial City will be a dedicated Logistics Park. This will be especially designed to meet the Doing Business in UAE and UAE Free Trade Zones 4th Edition 2006 special logistic needs of the tenants. It has specialized facilities from warehousing, labeling and packaging to advanced transportation systems. Education Academic zone will host the first Engineering University in Dubai. The Engineering University will be established in partnership with one of the leading globally branded schools. Several technical training centers will also be set up in partnership with prominent business houses to cater to skill needs of specific sectors. Amenities The Dubai Industrial City will be a complete city of its own, with a Downtown area that will have varied facilities such as hotels, entertainment, conferences & residential complex areas. Single Window Clearance Dubai Industrial City also offers a One Stop Shop providing a single window of clearance for government services, support services and access to labor from all over the world. Morison Menon 33 Doing Business in Dubai
DOING BUSINESS IN SHARJAH Being the third largest of the seven emirates, which form the United Arab Emirates, Sharjah is located on the Arabian Gulf in the West and the Gulf of Oman & the Indian Ocean in the east, offering the investor the best of both the worlds. Sharjah is the only Emirate to have land on both, the Arabian Sea and the Indian Ocean. Sharjah encourages the flow of investments in various production and service sectors. Emphasis is given to cementing the mutual forward and backward linkages between the different sectors, whereby the inputs and out- puts of each sector would be utilized adequately to serve and enhance the growth of other sectors. The government welcomes foreign investments in the fields of manufacturing industries, trade, tour- ism, financial services and transport. In its drive to diversify the economy and source of income, Sharjah gives continued and active support to the industrial sector as an inherent component of its policy. The Emirate concentrates and understands the role of private sector that accelerates the con- tribution to the national economy. Priority is allot- ted to project proposals that are capital intensive, utilize sophisticated technology, use locally avail- able raw materials and are environment friendly. Procedure for Licencing in Sharjah Sharjah Economic Development Department with the joint participation of Sharjah Chamber of Commerce & Industry and Sharjah Municipality is 34 the authority to issue a licence to set up a project in the Emirate of Sharjah. Investment in Sharjah is based on a legal and organizational framework of the distinct applications. Accordingly, licences are issued under the following legal and organizational frameworks: a) Licences as per the Federal Framework - discussed at the beginning of this book b) Licences as per the Regional Framework and ministerial decision applicable to GCC citizens c) Licences as per the administering of laws and local orders issued by HH the Ruler of Sharjah d) Practicing professions and crafts by non-citizens according to the local order No. 1/1991 As per this law, non-citizens of UAE can prac- tice professions and crafts within the following bounds: • Sole Establishments, provided that the number of employees in the establishment does not exceed five. • Civil Companies organized by Federal Civil Transactions Law No. 5/1985 article 683-690. This relates to a company where two or more per- sons agree to undertake a work and guarantee such work, against an accepted wage. They may also jointly or severally distribute the work among them, ensuring harmony in operations. Both the sole establishment and the civil company should appoint a local service agent who will not be financially liable to them. These organizations’
Page 2 and 3: 4 th Edition 2006 Dubai: 204, Tower
Page 4 and 5: HH Sheikh Khalifa bin Zayed Al Nahy
Page 6 and 7: Foreword Writing a foreword is a go
Page 8 and 9: Preface The fourth edition of ‘Do
Page 10 and 11: The Country Geographic Location The
Page 12 and 13: ADVANTAGES OF UAE FOR BUSINESS Pro
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Page 16 and 17: Ministry of Economy prior to obtain
Page 18 and 19: importance of the industrial sector
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Page 22 and 23: •Board Resolution to open a branc
Page 24 and 25: (i) accounting, business, medical a
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Page 32 and 33: Real Estate in the UAE The economy
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Page 36 and 37: General Information Customs Procedu
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Doing Business in UAE - Morison Menon

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