Dubai Car and Automotive City Company Formation
Dubai Car And Automotive City Company Formation : Dubai is one of the wealthy places in the world and every year there are hundreds of cars stored in the garage where they turn into rust or sold undervalue. To prevent that from happening the Dubai Government inaugurated in April 2010 Dubai Cars and Automotive City Free Zone which aim is to re export used cars to the Asian and African markets. Also known as DUCAMZ it is located in Ras Al Khor and has easy access to the regional airport and seaport including Dubai International Airport and the Jebel Ali Port and the highways which connect Middle East countries. DUCAMZ free zone the largest free zone size of this free zone is 8 million sq. ft making it one of its kind. They offer comprehensive infrastructure to meet the high demands in the automotive industry, providing competent highway connectivity and boosting all mod cons necessary to relocate cars within and outside the region.
The Automobiles are divided into 2 Divisions
- Vehicles fall under the regulations of the UAE that got exported to the local markets
- Vehicles that dedicated to African countries mostly
- 100% foreign ownership
- 100% repatriation of capital and profits
- Economical freight charges
- Availability of skilled workforce
- No restriction on the number of imported cars
- No corporate tax and tax on personal income for 50 years
- No currency restrictions
- Hassle-free clearance from Police, Customs, Port, and Bank
- Excellent support services from Dubai Ports Authority and other service institutions such as Shipping, Insurance, Banking, Automobile Workshops and Restaurants
- Attractive work environment
Company Formation in DUCAMZ
- Free Zone Company
- If you want to open your company in Dubai Car and Automotive City there are some conditions you need to satisfy. First you can have multiple shareholders minimum 2 and maximum 5 and capital requirements is AED 100,000.
How to Set Up a Business in DUCAMZ?
If you want to open a company you need to do a business that is related to automobiles because Dubai Cars and Automotive City Free Zone are related to trading and selling vehicles. In DUCAMZ free zone, a valid trade license is a trading license that is issued within 2-4 weeks.
Procedure to Set Up a Business in DUCAMZ
Dubai Car And Automotive City Company Formation : Dubai Car and Automotive City Free Zone is administered by Jebel Ali Authorities. To prevent people from getting confused they made their administrative office in a central location. The main focus of the Authorities is to welcome the investment in the Zone and help the economy grow.
- Fill and submit your form and wait for approval
- Submit the necessary documents for registration of the company
- Sign the customer confirmation letter and pay the fee
- Sign the Memorandum and Articles of Association
- Deposit the share capital
- Sign the lease and personnel sponsorship agreement
Documents to Set Up a Business in DUCAMZ
- Registered your company trade name and present proof
- You need application approval before starting business formation activities
- A Memorandum of Association and/or Articles of Association for corporate shareholders/applicants must be provided. UAE Embassy need to notarize in the country of origin
- You need to obtain a resolution from the Board of Directors of corporate shareholder/applicants indicating the intent to form a new business in Dubai
- Corporate shareholder/applicants from the Registrar of Companies in the origin country need to provide certificates of registration
- The individual shareholders must provide the passport copies
- Managers must provide their passport copies and CVs
- Each corporate shareholder/applicant address must be provided
- Personal Information Sheets must be completed for each individual shareholder and manage
- You need to lease a space for the business and do
Why Set Up a Business in DUCAMZ?
Dubai Car And Automotive City Company Formation : We have an excellent network for transportation in Dubai Cars and Automotive Free Zone but also in terms of channelling with other automobile industries. We have several global companies in the free zone providing an advantage to the investors who are interested in the same field. There are so many brands that have setup business in Zone such as Al Tayer Motors, Luxury Motors Limited, Heewad Motors, Al Habib Motors, Al Meezan Motors, and other related enterprises.
- Offices spaces
To influence several automobile productions companies to get into re-exporting, including buyers, sellers, traders, and more is the main reason for Dubai Car and Automobile City to open Free Zone. If you want to setup your company in Dubai and related to automobiles then the DUCAMZ free zone is the right option for you. But before taking any step to set up a business in Dubai free zone, the first port of call should always be to consult a company setup expert, that will guide you through the process and help you get through the important steps that require little more than a few hours of your time.
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Dubai Car And Automotive City Company Formation
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