The DWTC or Dubai World Trade Centre Free Zone provides valuable options for corporations seeking a convenient and affordable choice for setting up a business in Dubai. DWTC Free Zone offers a variety of distinctive business prospects, including branch licensing for foreign enterprises and for UAE Limited Liability Companies as well as free-zone licensing.
Beneﬁts of DWTC Free Zone Business Setup
- Ideally / Strategically situated in the center of Dubai
- 100% foreign ownership
- 0% export tax
- There are no limitations on recruiting foreign workers
- Capital repatriation at 100%
- Seamless integration of onshore and offshore business operations
- Stable and transparent rules
- Modern infrastructure
- A well-managed ecosystem
- Remittance of funds and other currencies is not restricted
- Adaptable, high-quality office space
Types of Licences in DWTC
The following are the available DWTC licence:
1. Licence for General Trading
All business actions within an unrestricted range of activities are covered by this DWTC trade licence. Under the general trade licence, companies may export, import, and distribute products in all such categories.
2. Professional Licence
One may carry out the tasks indicated in this licence within the Free Zone and anywhere in the UAE as long as you have this licence (subject to permits that are required in other jurisdictions). Regular services include training, onsite repairs, general or advisory advising, and services for implementing software and HR.
3. Commercial Licence
The licence permits carrying out the commercial activities listed in the licence, including the export, import, distribution, sale, and storage of all commodities covered by the licence.
4. Event management Licence
Under the terms of this licence, businesses may plan conferences, incentives, meetings, exhibitions, and events for business or leisure.
Types of Legal Entities
For both private investors and business shareholders, the Dubai World Trade Centre authorities have approved suitable structure types. Any of the following forms can be registered as a DWTC entity:
1. Free Zone Company (FZC)
This kind of entity must have at least two shareholders (can be an individual or a corporate shareholder).
2. Free Zone Establishment (FZE)
This corporation has a single shareholder who owns all of the company’s shares, whether they be held by an individual or a corporation.
3. Branch of a Foreign Company
Without making a financial investment, one may register a branch in the DWTC free zone. Similar to the main firm, the branch must register for the same activities.
Required Documents DWTC Free Zone Business Setup
The following documents are required for the DWTC Free Zone business setup:
- DWTC free zone application form
- Comprehensive business strategy
- Copies of each director’s, shareholder’s, and general manager’s passports
- Complete all additional free paperwork, including onboarding and sample forms, etc.
- Individual shareholder profiles (if a shareholder is an individual)
- Copies of the Emirates ID of the director, general manager, and shareholders (for UAE residents)
- Board decision for forming a business in the DWTC free zone and designating a manager (attested by the appropriate authority)
- For a corporate shareholder, a certified true copy of all documents proving the parent company’s incorporation, such as the certificate of registration (attested by the appropriate authority)
- A copy of the parent company’s licence (if applicable)
- Articles of Association (AOA) and Memorandum of Association (MOA) of the parent company (attested by the appropriate authorities)
- Valid standing certificate (if applicable)
Fees for Company Registration
There are primarily 3 packages:
- Office package for 57,300 AED with trading or service activity (including 4,000 AED refundable deposit)
- The package for a flex desk costs 31,300 AED (including a 2,000 AED refundable deposit)
- For 58,500 AED, get an office package with general trade activity (including a 4,000 AED refundable deposit)
- The licence will cost you 19,800 AED if you rent an office from a business centre in One Central.
Renewal of Company
After one year from the date of registration, the corporation’s registration ought to be renewed. The cost of renewal is relatively lower than the setup charge and is 27,300 AED for the least expensive plan.
When you renew your company, the free zone will need a tax registration certificate if the firm has registered for VAT.
Corporate changes may be made at any moment following the issuance of the licence:
- Trade name change
- Managerial change
- Alteration of activity
- Transfer of Shares
The cost of each adjustment would vary. The authority will then be required to issue a new licence with the updated details. The price for a new licence release is 1500 AED.
The following clearance letters must be obtained if you choose to close your DWTC business:
- Closure and clearance letter for a bank account
- Permission from DU and Etisalat
- Approval from the DWTC finance division
- You must also publish a newspaper article on the shutdown of your business in a national UAE publication.
- It will take a few days to deregister after all required documents are submitted.
Avail Expert Company Set Up Services from Farahat & Co Today!
Farahat & Co offers trusted business set up services in DWTC Free Zone. Our adept team of professionals render top-notch and customised services that meet the client’s specific needs. Contact us today and we shall be glad to assist you.