A Bit of JAFZA’s History
It is one of the most well-known free zones in the country. It houses a figure of more than 7,000 international companies. Some of these companies are Fortune Global 500 companies. JAFZA is one of the contributors of Foreign Direct Investment (FDI) into the UAE.
Business setup in JAFZA continues to be rampant, and JAFZA, in turn, continues to meet the demands of businessmen with warehouses, showrooms, offices, and on-site residences. The top-of-the-line service and facilities that JAFZA offers are just some of the reasons why business setup in JAFZA remains to be one of the on-demand company formations in UAE.
Formation Types in JAFZA
FZCo
This company formation type is basically a Limited Liability Partnership. Just like the latter, the company’s liabilities are only limited to the company’s assets. The owners’ personal assets are secured.
If an investor decides to choose this type, JAFZA allows from 2 to 50 shareholders for their company to be formed. They can be either individual, companies, or a combination of both.
FZE
If a business owner would like to own a company on their own, FZE is a type of formation that JAFZA allows to be conducted in the free zone with one shareholder. However, just like the FZCo, it can be either an individual or a company. The company’s liabilities are limited to its assets as well, and the owner’s assets are protected.
PLC
Public Limited Company or more commonly known as PLC is a type that lists its shares on stock exchange wherein the public can subscribe to it. A PLC is considered to be that of a person because it has certain rights and privileges and even its own persona that is separate from its owners or shareholders. JAFZA allows two or more shareholders for a company that wants to form as a PLC.
Branch
A branch is simply an extension of its parent company. It is a legal entity that can be formed inside JAFZA. If a company is outside JAFZA, they can establish a branch in the free zone. There are certain requirements that they should meet, such as the parent company should completely own the branch, it should have the same nature of the business, and it should be under the same name as the parent company.
Business Activities That are Allowed in JAFZA
The license that is needed to be obtained by a company depends on the business activity that they will operate. The three main categories of activity in JAFZA are trading, service, and industrial.
The full list of all the activities that they offer is on the website of JAFZA.
Trading
- Agricultural, flowers, and plants
- Aircraft and train trading
- Amusement equipment and supplies trading
- Bags, packaging material, and paper trading
- Building materials trading
- Chemicals trading
- Electronics and electrical group
- Equipment and machines
- Fuel and petroleum products trading
- Jewellery trading
- Metal and its products trading
- Motor vehicles and auto spare parts
- Perfumery, medicines, beauty
- Readymade garments
- Foodstuff and beverages
- Separate trading activities
- Ships and boat trading
- Spectacles and contact lenses trading
- Sports equipment trading
- Stationery and books trading
- Trade license and video and recordings
- Tobacco and smoking accessories trading
- Waste trading
- Household and furniture trading
- Exchange and financial
- Regional liaison office
- Representative office
Service
- Advertising
- Transport, shipping, and storage
- Equipment, engines, machinery, and repairs
- Light aircraft maintenance
- Motor vehicle repairs
- Repairing of electrical and electronic appliances
- Accounts, Banks, finance, and credit group
- Building maintenance, surveillance and cleaning services
- Car registration and transfer services
- Car rental and passenger transport
- Consultancy Re-engineering
- Cleaning services
- Contracting and building works
- Cooperation societies
- Document destroying and storage
- Domestic gas station
- Event organizers
- Exchange and financial
- Exhibition organizers
- Facility management
- Finance consultant
- Foodstuffs supply
- Fuel supply
- Gas station
- Government liaison office
- Halls and exhibitions
- Hospitals and recovery houses
Industrial
- Blocks and building stones
- Cotton, metal nets, and rope manufacturing
- Equipment, engines, and machinery
- Food
- Garments, rugs, textiles and products manufacturing
- Glass and chinaware manufacturing
- Glass industries
- Handicraft workshops
- Light aircraft manufacturing
- Manufacture of batteries
- Manufacturing of gold
- Manufacture of eyeglasses
- Manufacture of medicines
- Manufacture of motor vehicles and motorcycles
- Manufacture of tyres and rubber products
- Manufacturing of bags, shoes and leather products
- Manufacturing of tobacco and cigarettes
- Manufacturing of wood, wood products, and furniture
- Meat processing
- Paper and paper products
- Petroleum and metal extraction
- Petroleum products and chemicals
- Pipes and wire manufacturing
- Plastic industries
- Power generation and transmission
- Electrical and electronic appliances
- Shipbuilding
- Structural steel manufacturing
- Technical and professional workshops
Source: http://jafza.ae/business-set-up/
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