Company formation in Dubai Auto Zone
User mszcsp
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Company formation in Dubai Auto Zone

Office No#1407, Mai Tower Building, Alnahda 1, Dubai, Dubai, United Arab Emirate Published date: February 14, 2018 Modified date: February 14, 2018

Dubai Auto Zone (DAZ) was established in 2000 with the objective of exporting automotive productson the Asian and African marketswhere the demand exists and continues to grow. DAZ is a business marketwhich attracts foreign direct investments due to an advantageous tax regime and state incentives offered to foreign investors opening a company here. Authority: The main authority in DAZ is Jebel Ali Free Zone Authority, providing licenses and administrations services to companies set up here. In order to receive a license in DAZ, your company must have operations in the trading automotive field. Note: The DAZ legislation prohibits trading of spare parts or parts of cars. Benefits: ·        100% foreign ownership. ·        100% repatriation of capital and profits. ·        No personal income taxes. ·        No currency restriction. ·        you can hire foreign citizens, as there are no restrictions in this matter; ·        logistics and infrastructure adjusted to the needs and purpose of DAZ. ·        Best support services from Dubai ports authority and other service institutions such as shipping, banking, insurance,automobile workshops, freight forwarders and such other related service agents.   Legal entity: 1.     Free zone enterprise, 2.     Free zone company, 3.     Branch of a foreign or local company, 4.     Joint venture. Minimum share capital: you should have a minimum share capital of AED 100,000 for FZE and FZCO whereas AED Nil/- for thebranch. License available: you can receive atrading licenseduring the incorporation process must be renewed on a yearly basis. The penalty would be charged by the authority if thelicense is renewed after theexpiry date.Trading license in DAZ can be obtained in minimum 4 or 5 weeks. Shareholders: The Shareholdersof the company can be an individuals or corporate entity. Directors: Directors must be an individual only. Audit: The audit report is not required to be submitted to free zone authorities. For further information on Dubai Auto Zone (DAZ), you can contact MSZConsultancy. Our contact number is 00971589827842 or visit: http://www.mszconsultancy.com      

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    Office No#1407, Mai Tower Building, Alnahda 1, Dubai, Dubai, United Arab Emirate

    Published date: February 14, 2018

    Modified date: February 14, 2018

    Views: 44

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