In 2011, the Gold & Diamond Park was established. It has the features and amenities that can make jewelers and those who have a penchant for jewelry to feel like at home. Nowadays, it houses 90 leading retailers and has a recent expansion of 118 manufacturing blocks and commercial space that allows 350 offices in. This is a good chance for investors to have a business setup in Dubai Gold and Diamond Park.
This Dubai free zone authority has the proper solutions, facilities, and amenities to meet the requirements of businesses from the gold and jewelry industry. They are all designed specifically for this industry.
Business setup in Dubai Gold and Diamond Park, like any other business setup in Dubai free zones, is done through a structured process that is made for the purpose of proper business setup in Dubai free zones. Following the procedures can ensure an easier way of registering and conducting a business setup in Dubai Gold Park without any drawbacks.
It is not an alternative to take business setup in Dubai carelessly. This is why there are people who are available to help you out on this. They are the business setup consultants in Dubai who have helped Dubai freezone companies to be established successfully.
Seeking the help of business consultants in Dubai gives you the opportunity to gain the information about business setup in Dubai free zones that you have been wanting to have and how to open a company in Dubai free zone. Aside from that, when you have the details in regards to Dubai freezone company setup cost and Dubai free zone license cost, it can prepare you with the amount that will be incurred by you in the beginning of your business. This information can be filed as well for future use or reference. Also, having an idea on what the estimated Dubai free zone company formation cost also aids in figuring out just how much you will have to spend for now and the necessities that your company would require in the coming months.
Company formation consultants in Dubai can give you the answers to any of your questions about Dubai freezone companies, such as the Dubai free zone company registration fees and even the documents required for trade license renewal in Dubai for your reference in the future. However, the sole purpose that these people exist is that they are responsible to take care of your business setup in UAE free zones so that you wouldn’t have to worry too much about it.
Therefore, with the team that delivers quality service, you can be sure that your having Dubai free zone company registration is in the right hands.
Without a doubt, the UAE is a good place to invest or expand your business. This is probably why business owners conduct business setup in Dubai free zones for the advantages that are found in there. Moreover, business setup in Dubai Gold Park is especially a good choice for the businessmen who are looking to establish a name in a jewellery industry.
The solutions and facilities that Gold and Diamond Park offer completely meet the needs of the business in this industry. Adding to that, Dubai free zone benefits are also available to be availed by the companies in Gold and Dimond Park.
100% foreign ownership
Unlike in the UAE mainlands, wherein a local sponsor is needed before one can go forward in having a business formation in Dubai (in which the local sponsor gets 51% of the business’ shares), freezone company formation means that the businessman can have 100% ownership of the company that he will establish.
Gold and Diamond Park is conveniently situated on Sheikh Zayed Road. It is at the heart of Dubai, making it accessible for everyone and for all areas.
Even if the value-added tax (VAT) has been applied to some goods and services all over the UAE, it shouldn’t be seen as a negative altogether because the government hasn’t mandated just yet that income and corporate taxes should be paid. This is a huge advantage for investors who are looking for this kind of tax exemption.
Companies in Gold & Diamond Park have the opportunity to have the benefits that this zone offers. Aside from the ones stated above, more advantages are listed below:
- 100% repatriation of capital and profits
- Hiring of expatriate workers
- Central air conditioning plant connections to each unit
- Central gas distribution system to each unit
- Healthy purpose-built work environment with proper ventilation systems, exhaust facilities, and provision of acid disposal waste collection
- 24/7 security personnel and video surveillance, fire alarms, and fire defense systems
- Excellent retail center facilities and atmosphere, serving tourists and shoppers
One of the important things to do when conducting a free zone company setup is to check the business activities that are allowed in a location to ensure that you have chosen the right place for your company. Gold & Diamond Park allows the following business activities:
- Gold and diamond jewelry specialty shops
- Health and fitness providers
- Educational organizations
- Entertainment establishment
- Banking and financial services
For more than 30 years, FAR Consulting Middle East has been providing business setup services in Dubai and all over the UAE. We have all the precise information that you are looking for with regard to business setup. One of the information that we can provide is the estimated Dubai free zone company registration fees so that you can be prepared with the amount needed.
Being your company formation consultants in Dubai, we can do the services below for you for your free zone company registration Dubai:
- Applying and following up on behalf of the client until the collection of the Certificate of Business Registration (Trade License)
- Representing the client in front of the authorities
- Assisting the client in bank account opening
- Assisting the client in account opening with the Ministry of Labour
- Assisting the client in account opening with the UAE immigration
- Assisting the client in leasing a premise as an address for the business
After your application is approved, the authority will issue an initial approval for your business. The next steps that will be taken are as follows:
- Choose a ready-fitted office space from Gold & Diamond Park selection that’s the most appropriate size and layout for your business requirements
- Or decide whether you’ll require Gold & Diamond Park-regulated contractors for fit-out service for your office or if you’ll be doing that independently
Then, once the office is finalized, the following steps will be taken:
- Lease agreement will be prepared
- Office keys can be collected
After that, we will start the preparation of the legal documents.
The procedure of processing your business setup in Gold & Diamond Park will range from 2 to 4 weeks
Documents Required for Dubai Gold Park Company Registration
- Passport copies of the shareholders
- Passport copies and CV (resume) of the manager
- Personal information sheet of each shareholder and manager (template will be forwarded by Farhat Office & Co.)
- Proof of trade name reservation (part of the process—task of Farhat Office & Co.)
- Proof of initial approval for the activities (part of the process— task of Farhat Office & Co.
- Notarized Memorandum of Association (MOA), Article of Association (AOA) (Farhat Office & Co. will draft it for you and will assist you in order to get them notarized by a local notary public); in case the shareholders cannot appear in front of the local notary, they can appoint us (Farhat Office & Co.) as a legal representative so that we will be able to act on their behalf
- Notarized and attested Power of Attorney appointing Farhat Office & Co. as your legal representative so that they can act on your behalf/on behalf of the shareholders (template will be forwarded by Farhat Office & Co).
- Lease agreement (a document) showing a physical address for your new business—Having a physical address is mandatory for onshore business in the UAE. The minimum space required is 550 sq. ft. (around 60 sq. m). Your registration agent Farhat Office & Co. can assist you while searching for your physical address. Clients should not enter in any lease contract before we get the initial required approvals.
- Capital—we suggest a minimum authorized capital of AED 150,000 (USD 41,000 approximately). The capital structure is as follows: 51% to be registered for the name of the local citizen “partner” and 49% to be registered for the foreign partners. This formula can be changed by the Ministry of Economy upon the request of the investors, and the Ministry will look into the matter. The Ministry will assess and evaluate, and they will agree in case the business/the project will add material value to the state/country’s economy. Depositing/paying the authorized capital is not mandatory in most cases.
Additional Requirement Applicable for Corporate Shareholders (Legal Person)
- Board resolution to be resolute by the board of directors of your existing company/entity at the place of origin, expressing their intent for establishing a new setup abroad—it must be attested by the UAE Embassy (template will be forwarded by Farhat Office & Co.).
- Certificate of registration or business license or certificate of incorporation of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Memorandum of Association (MOA) of your existing company/entity at the place of origin—it must be attested by the UAE Embassy.
- Article of Association (AOA) (if any) of your existing company/entity at the place of origin—it must be attested and notarized by the UAE Embassy.
- There are cases that a concerned party may require documents and other requirements
- In some business activities, such as health care, law firm, education training, transportation, construction and contracting, engineering consulting, etc., no objection and permission will be required as mandatory requirements. If your business requires such pre-approvals and/or permissions, there will be an additional cost and additional professional fee for Farhat Office & Co.
Dubai Gold & Diamond Park Company Registration Cost:
The below table shows the estimated Dubai freezone company setup cost in Gold & Diamond Park, which also includes the Dubai free zone license cost. If need be, you can contact us for further clarification and information.
|Dubai Free Zone Company Formation Cost – Gold & Diamond Park|
Table of Estimated Government Cost and Professional Fees
|Trade License Option/Activity||Cost in USD||Cost in AED|
|Industrial License||USD 2,570||AED 9,375|
|Specific Trading||USD 2,570||AED 9,375|
|Oil & Gas||USD 3,425||AED 12,500|
|Real Estate||USD 5,135||AED 18,750|
|Aviation||USD 5,135||AED 18,750|
|General Trading License||USD 5,135||AED 18,750|
|Specific Services||USD 2,570||AED 9,375|
|Oil & Gas||USD 3,425||AED 12,500|
|Freight Forwarding||USD 2,910||AED 10,625|
|Real Estate||USD 5,135||AED 18,750|
|Aviation||USD 5,135||AED 18,750|
|Our Firm’s Professional Fees||USD 5,000||AED 18,365|
ATTENTION – NOTE