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Investing in Jebel Ali
Before knowing the forms and methods of investing in Jebel Ali, we must first know what Jebel Ali is as the first investment area in the United Arab Emirates.
The Emirate of Dubai includes many important and distinct areas that made it one of the most important emirates in terms of trade and the most attractive emirate for foreign investors, as this emirate contains excellent places. Among the most important of these areas is the Jebel Ali area, as the Jebel Ali area is about 30 km away from the center of Dubai, heading west towards the city of Abu Dhabi. This area (Jebel Ali) also includes an important port that is considered one of the largest and most important ports in the world, which is the Jebel Ali Port. This area also contains the most important factories for manufacturing aluminum. This area is also distinguished by the presence of a five-star hotel called the Jebel Ali Hotel.
In addition, Jebel Ali is considered one of the most important areas that includes the largest free zone in the Arabian Gulf. This area is also distinguished by the fact that it works to provide a work environment that helps achieve large profits without paying any type of taxes and without the need for a partner who holds Emirati citizenship.
Investing in the free zone
The free zone always seeks to help new companies in the process of establishing their companies. Knowing the initial costs of establishing companies is considered one of the most important steps to develop a viable business plan for companies. We can help you finance your project through investors who have dealt with us before and with the best and most important investment companies in the UAE. You only need to make a project plan and review it to find the right investor with us.
The government also provides adequate support to Emirati contractors, and there are many, many grants available to people who have a strong business plan and are foreigners to the UAE. The UAE government is also working to provide many commercial and administrative buildings and free business centers available for rent in the free zone in order to invest within the free zone to suit the size of their business and the services they provide, while providing appropriate solutions to all investor complaints.
Steps to establish a company in Dubai
Whatever your financial capacity or what you carry and set as a financial budget to establish and found any investment projects or establish a company in Dubai, you can now establish any project or any investment service in Dubai due to the multiple needs of the UAE and also due to the ease of providing ways and means to establish investment projects in it, but it is necessary to know the appropriate and basic steps in establishing a company in Dubai, which are as follows:
Determine the nature of the company’s activity:
Determining the activity of the company you wish to establish in Dubai is considered one of the most important procedures imposed by the UAE law for establishing companies in Dubai. This facilitates the procedures according to each desired activity and then determines the parties associated with the activity and the permitted legal forms.
There are many economic activities permitted in the UAE, approximately 2000 economic activities. Economic activities are classified into three main types: commercial activity, which is (real estate, leasing, transportation, financial brokerage, wholesale, retail, storage and communications), professional activity, which is (agriculture, health, social work, education and various service activities related to society, i.e. every activity that depends on physical and mental activity to practice it), and finally industrial activity, which includes (transformation industries of mining, water, electricity and quarrying), and there are also some tourism activities.
Determine the legal form of the company:
Here we talk about the legal form of the new company that a woman has established. This form depends on the nationality of its owners and the type of company that you plan to establish in Dubai, which are as follows:
- Solidarity company.
- Limited Liability Companies.
- Public joint stock company.
- Private joint stock company.
- Civil works company.
Trade name registration:
The trade name in establishing a company in Dubai is what distinguishes one license from another, and it is also related to the form and activity of the company and is fulfilled by several important conditions stipulated and applied by the Department of Economic Development on the trade name before approving the name under which the company is to be registered, namely that the trade name does not contain words that are inappropriate for the country, and does not violate the public and private taste of the country as well, and that the company name reflects the commercial activity accurately and clearly.
Get initial approval:
After determining the activity for establishing the company, the legal form for establishing the company as well, and registering its trade name, you must obtain initial approval for your economic activity for the company and follow up in order to obtain the approval of the authorities related to the activity.
Preparing the articles of association and choosing a headquarters for your business
Here we come to the role of convening or preparing the contract designated for establishing a company in Jebel Ali, Dubai. Bring the contract of incorporation in agreement between you and the competent authorities in Jebel Ali. You must also choose a location to establish the company in Jebel Ali or establish an investment company in the Emirates to conduct your business. All established companies must have an actual address that is present in the United Arab Emirates, and this headquarters must meet the specified requirements and land allocation systems in addition to the existence of an existing license.
Obtaining approvals from the authorities concerned with the facility’s activity
Some activities and projects require obtaining additional approvals from the regulatory and competent authorities for those projects and activities, such as approval from the Ministry of Economy, specialized approval from the Ministry of Interior, specialized approval from the Ministry of Justice, and approval from the Civil Defense, if the activity is related to the sale of firefighting equipment, etc. However, we do not need any additional approvals for activities that fall within the scope of the Department of Economic Development.
Get License
After completing all the previous steps to prepare and establish an investment company in Jebel Ali, you can receive the license for the activity for which you want to establish the company after attaching some of the required documents, including the economic development steps and paying the commercial license fees for establishing the company, then registering in the Chamber of Commerce as a member.
Establishing a company in the free zone
Companies wishing to launch or establish their businesses in the free zone enjoy greater flexibility in choosing multiple commercial activities or service activities that suit the nature of their work, in addition to the tax exemption that distinguishes this zone, which is one of the biggest factors attracting many new contractors, which contributes to enhancing and activating the experience of investors when contracting or establishing companies in the free zone and conducting their business.
Costs of setting up a company in Dubai
The costs of establishing a company in Dubai are mainly limited to several expenses, which are as follows:
- Cost of commercial license (business license)
- The cost of the office or company location from which you conduct your business, whether renting or buying.
- Costs related to the furniture and decoration of the office in which you conduct your business.
- Cost of work permits for sponsored employees and visas required for them under your company name.
- The cost of opening a bank account in the company’s name in one of the banks and depositing the minimum required capital depending on the type of your business activity.
- The legal form of the company, meaning whether it is commercial, industrial or professional, has a fundamental role in increasing or decreasing the cost of establishment. The costs of establishing industrial companies are higher than those of establishing commercial and professional companies.
- Cost of commercial license in Dubai .