Doing Business in UAE - Morison Menon

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AUTO SPARE PARTS ZONE (ASPZ) Location Established Distance Size of the Zone Facilities Offered Rental per annum Lease Period Possible Legal Entities Capital-cash physical No. of Shareholders Formation Fee Types of license issued License fee Business Segments Visas Company formation period Other Info Al Awir Free Zone, Al Awir - Dubai 2005 [Expect to be operational by early 2007] 20 Kms from Dubai International Airport 5,000,000 sq. meters Plot of Land [minimum 5,000 sq. meters] *US $ 1.90/m2 (AED 7.00) 30 years; renewable for similar period Branch of Foreign Company (including offshore company) None - None Trading Licence US $ 1,500 (AED 5,500) Auto Spare Parts Zone (ASPZ) Branch of UAE Company Trading in New and Used Auto Spare Parts 8 visas per trade licence/10,000 sq. meters of plot. [However, additional visas may be issued subject to requirement] 5 – 10 days It is a mandatory requirement that every entity must construct office unit (plan to be approved by FZ Authority) and size can vary in between 100 m2 to 300m2. Currently registration, licencing and visa formalities with respect to an Entity in Al Awir Free Zone are controlled by JAFZA. *Rate is subject to change 92 None - None Free Zone Company (Single/Multiple Shareholding) US $ 27,270 (AED 100,000) Minimum One Shareholder. If more than one shareholder the capital can be divided as AED 50,000 each(US $ 13,635) US $ 2,727 (AED 10,000)
Location Established Distance Size of the Zone Facilities Offered Rental per annum Lease Period Possible Legal Entities Capital-cash physical No. of Shareholders Formation Fee Types of licenses issued License fee HAMRIYAH FREE ZONE Sharjah (Al Hamriyah) - U.A.E November 1995 (Operation started in 1998) 35 Kms from Dubai International Airport 24,000,000 sq. meters Office Units 15.30 m2 to 42.00 m2 US $ 4,636 to US $ 12,313 (AED 17,000 to AED 45,150) One year, annually renewable [option for 25 years] Branch of Foreign Company(Including offshore company) None Branch of U.A.E Company None Doing Business in UAE and UAE Free Trade Zones 4th Edition 2006 Total Area 614 m2 416 m2 276 m2 Warehouse Area 500 m2 328 m2 250 m2 US $ 29,997 / 21,816 / 14,999 (AED110,000 / 80,000 / 55,000) One year, annually renewable [option for 25 years] Free Zone Establishment (FZE) US$ 40,905 (AED 150,000) Free Zone Company (FZC) US$ 40,905 (AED 150,000) Minimum 2 Maximum 5 US $ 2,454 (AED 9,000) Business Segments Import, Export, manufacturing, processing, assembling, packaging, distribution, consolidation, storage, international business consultancy and different kind of services unless otherwise restricted by federal or local authorities. Port facilities Hamriyah Free Zone Port (feeder service), Sharjah Airport, Port Khalid, Khorfakkan Port Visas Company formation period Other Info Hamriyah Free Zone - - None None Warehouse Plot of land 4 visas for 22.40 sq. meters office and further depends on the size of the space leased. However, no restriction for industrial/assembly units operating in pre-built warehouse and leased land as required for the activities. Trade Licence will be ready within 24 hours subject to completion of legal formalities and registration documentations. Manager of a company must hold Free Zone visa. One US $ 2,454 (AED 9,000) Office Area 114 m2 88 m2 26 m2 Minimum 2500m2 US $ 3.56 – 5.45 (AED 13-20/sq. mtr) 5 years upto 25 years Renewable for similar period Commercial (Up to 5 items) General Trading Service Industrial *National Industrial US $ 750 (AED 2,750) US $ 3,272 (AED 12,000) US $ 750 US $ 750 (AED 2,750) (AED 2,750) US $ 750 (AED 2,750) Morison Menon 93
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4 th Edition 2006 Dubai: 204, Tower
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HH Sheikh Khalifa bin Zayed Al Nahy
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Foreword Writing a foreword is a go
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Preface The fourth edition of ‘Do
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The Country Geographic Location The
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ADVANTAGES OF UAE FOR BUSINESS Pro
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pany are not open for subscription
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Ministry of Economy prior to obtain
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importance of the industrial sector
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Contracting Firms have been classif
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•Board Resolution to open a branc
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(i) accounting, business, medical a
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• If the manager is a new appoint
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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
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Page 78 and 79: HEAVY EQUIPMENT & TRUCK ZONE (HETZ)
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