Doing Business in UAE - Morison Menon

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Location Established Distance Size of the Zone Dubai-U.A.E 1985 40 Kms from Dubai International Airport 100,000,000 s.q. mtrs (Free Zone North); 50,000,000 sq. meters (Free Zone South) Facilities Offered Office Units Warehouse/Light Industrial Units Plot of land Rent Per Annum Standard Unit 26.88 m2 US$ 12,272 (AED 45,000) Multi- Storeyed No Space restriction US$ 491-600/m2 (AED1,800-2,200 per sq. meter) Total Area 556 m2 313 m2 Warehouse/ LIU Area 510 m2 267 m2 US$ 53,177 (AED 195,000) US$ 59,995 [for high power] (AED 220,000) US$ 32,724 (AED 120,000) Office Area 46m2 46m2 Minimum 2500 m2 US$ 5.45 – 21.82/m2 (AED 20-80) per sq. meter Lease Period One year, annually renewable One year, annually renewable Upto fifty years Possible Legal Entities Capital-cash physical No. of Shareholders Formation Fee Types of licenses issued License fee Business Segment Port facilities Visas Time span to form company Other Info Jebel Ali Free Zone JEBEL ALI FREE ZONE Branch of a Foreign Company (Including Offshore Company) None - US $1,364 (AED 5,000) Branch of a UAE company None - US $1,364 (AED 5,000) Free Zone Establishment (FZE) US$ 272,703 (AED 1,000,000) One US $ 2,727 (AED 10,000) Free Zone Company (FZCO) US$ 136,352 (AED 500,000) Min 2, Max 5 US $ 4,091 (AED 15,000) Trading *General Trading Service Logistics Industrial National (Service) Industrial US $ 1,500 US $ 8,187 US $ 2,182 US $ 8,187 US $ 1,500 US $ 1,500 (AED 5,500) (AED 30,000) (AED 8,000) (AED 30,000) (AED 5,500) (AED 5,500) Number of activities is restricted. *General Trading Licence is issued only on a case-to-case basis A company can obtain additional licence with different activities and operate under different name. Jebel Ali Port, Port Rashid, Dubai Airport :Pre-built office; 4 Nos :Multi-storeyed: Depends on space leased (80 sq.ft per person) :Pre - built warehouse : 20 nos :Facility on leased land : Depends on requirement and subject to EHS compliance 20-30 days Sublease of leased land is allowed for sister company/s provided the existing company or shareholder is the major shareholder in the sub-lessee company. JAFZA charges an annual fee of US $ 5,454 (AED 20,000) for sub-lease. Warehouse units and Buildings Constructed on leased land are subject to a Public Health Levy which is charged at 2% on annual rental at a maximum of AED 10,000 5% of office and warehouse rental is charged as one time deposit. For factories fee for Industrial Effluent Disposal shall be US$ 6,812 (AED 25,000) for the first connection, then calculated at US$ 1.4 (AED 5.00) per 1000 imperial gallons, for discharge into the marine environment using Free Zone drainage lines. Industrial licence holding companies should hold separate licence for trading activity. JAFZA has created 8 industry specific zones in the South Zones viz., Dubai Distribution Centre, Digital Valley, Construction Square, Pharma-Med Park, Chemical & Plastic Field, Paper Pack Zone, Fragrance & Beauty Park, Food & Beverage Park. 66
Legislative Authority Date of Enactment Company Status Shareholders Suffix to the Name Capital Structure Corporate Capacity Shares Administration Directors Secretary Activities Allowed Activities Restricted Registration Registration Fee Annual Renewal Winding up Incorporation Documents Doing Business in UAE and UAE Free Trade Zones 4th Edition 2006 JEBEL ALI FREE ZONE OFFSHORE COMPANY (Jafza Offshore) JEBEL ALI FREE ZONE OFFSHORE COMPANY [JAFZA OFFSHORE] JAFZA Offshore Company Regulations 2003 15 January 2003 Limited Liability Minimum 1 and no maximum [individual/corporate] ‘Limited’ Decided by shareholders Has the capacity and privileges of a natural person Must be fully paid when allotted; No bearer shares allowed; No different classes of shares Must have a Registered Agent approved by JAFZA;Regd office may be in JAFZ or in Dubai Minimum two directors Must have a Secretary Professional contact with legal consultants, lawyers, accountants and auditors To hold shareholders’ and directors’ meetings in the UAE. To own real property developed by Nakheel, Emaar or any other developers approved by the Authority. To hold an account in a bank in the UAE for the purpose of conducting its routine operational transactions To engage in General Trading [Out of UAE] To engage in commercial, industrial, agricultural and activities considering and observing international rules and regulations and statute law of country where the company operates its activity including international trading, investment and other related activities To open branch offices or representative offices in any part of the world. To become a shareholder in a Limited Liability Company to be formed in Dubai/UAE. To carry on the business as an investment holding outside UAE To become a shareholder in an entity which may be formed either in UAE or UAE Free Zones To carry on business with persons resident in the UAE. Own an interest in the real property situated in the UAE other than approved by the Authority. To carry on banking, financial, insurance, re insurance, insurance agent or insurance broker To carry out any trade in the free zone or in the UAE. To carry on Professional services, Consulting services, Intellectual property, Media, Security, Publishing, Advertising, Movie, Production, Management, Gambling, Casino, Property Development, Game & Win, Advisory, Real Estate, Military, Education The Registrar is the final authority to accept or reject the registration. Upon registration, an offshore company registration number will be allotted and registration certificate will be issued US$ 2,727 (AED 10,000) Registration must be renewed annually; Renewal Fee is US$ 682 (AED 2,500) Summary under chapter 1 of Part 13 of the Regulation; By its creditors under chapter 2 Part 13 of the Regulation; By the court under the UAE Commercial Transactions Law No.18 of 1993. Incorporation Certificate Memorandum and Articles of Association List of Directors [addressed to an institution (bank) as per request] Morison Menon 67
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
Page 14 and 15: pany are not open for subscription
Page 16 and 17: Ministry of Economy prior to obtain
Page 18 and 19: importance of the industrial sector
Page 20 and 21: Contracting Firms have been classif
Page 22 and 23: •Board Resolution to open a branc
Page 24 and 25: (i) accounting, business, medical a
Page 26 and 27: • If the manager is a new appoint
Page 28 and 29: Dubai Industrial City (DIC) Locatio
Page 30 and 31: name shall not be registered in the
Page 32 and 33: Real Estate in the UAE The economy
Page 34 and 35: Key Communities Al Hamra Village -
Page 36 and 37: General Information Customs Procedu
Page 38 and 39: dure remain the same including depo
Page 40 and 41: the Free Zone. Bank Guarantees Ther
Page 42 and 43: Abu Dhabi Sea Port Port Zayed (Mina
Page 44 and 45: Dubai Port Tariffs Loading/Discharg
Page 46 and 47: Destination Mississippi Boston, Mas
Page 48 and 49: Immigration Requirements for New En
Page 50 and 51: Multiple-Entry Visas Multiple-entry
Page 52 and 53: Name of School Curriculum Location
Page 54 and 55: Dubai Education Council The creatio
Page 56 and 57: Dept of Economic Development, Dubai
Page 60 and 61: DUBAI MARITIME CITY Location Establ
Page 62 and 63: Facilities Offered Rent Per Annum L
Page 64 and 65: Facilities Offered (Leasehold and F
Page 66 and 67: Location Established Distance Size
Page 68 and 69: Facilities Offered Rental per annum
Page 72 and 73: Facilities Offered Rental per annum
Page 76 and 77: * Location Established Distance Siz
Page 78 and 79: HEAVY EQUIPMENT & TRUCK ZONE (HETZ)
Page 80 and 81: AUTO SPARE PARTS ZONE (ASPZ) Locati
Page 82 and 83: Business Segments Port facilities V
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