Dubai Logistics City Free Zone Company Formation

Business Setup Services | Dubai Logistics City Free Zone

Dubai Logistics City Dubai Logistics City was built with the purpose of knowledge and logistics development also known as Dubai World Central. DLC has been built to promote and provide better logistics and trade facilities in the UAE. It is a Government initiative to build Dubai Logistics which is the world’s first all purpose Aerotropolis.

 Jebel Ali Sea Port is a neighbouring region to DLC covering an area of 140 sq. km. It is the biggest and most assertive project taken up by the government in order to increase the trading opportunities for the Dubai Logistics City in UAE but also houses other business communities like restaurants, shops, leisure facilities, 

and other services with beautiful geography. The companies who driven with Logistics as a base have great scope and business growth in DLC as all the amenities and benefits here are focused only on the development of the logistics and trade sector of the UAE.

Companies in Dubai Logistics City are spread over a vast area, with air cargo turnover amounting to almost 12 million tons every year. After the Completion of Al Maktoum International Airport DLC will be cherished as a very good place for investment and will give a head start to many other projects in the free zone, like air cargo terminals, office parks, labour villages, and many other amenities due to a boost in transport facilities.

 Jebel Ali Sea Port as a huge support and because of its systematic supply and provision fit out, DLC has become the zenith of logistical operations in the UAE.

 

Advantages of Business Setup in DLC Free Zone

  • DLC as one of the biggest platforms for the logistics industry provides numerous benefits for companies that start a business in it
  • The free zone offers 100% foreign ownership, free transfer of capital, and exemption from income tax
  • DLC is a built-apart corridor connecting DLC via Jebel Ali Port
  • DLC is a customized sector whom the main purpose is to cater to the huge demand of the requirement of logistics
  • There is a pre-built warehouse facility, custom-built units for freight forwarders, and a separate lane for heavy vehicle movement
  • The landscape covers a sprawling area providing a home to over 7000 companies, including many of the 500 fortune club companies
  • It has a well-defined distribution channel catering to African, South-East European, Middle East, and SAARC countries
  • The visa regulations are liberal and the workforce is easily available, with visa services for labour, transportation, and other purposes
  • DLC is into a comprehensive tax arrangement for the UAE, African and North Asian countries

Licensing Options in DIC

Logistics License

With the logistics license you can handle products and logistics services such as distribution, storage, order management transportation and inventory management forwarding, sorting and clearing within the UAE.

Industrial License

If you get an Industrial license you can deal in manufacturing but only lower levels such as blending, repacking, purifying, mixing, wrapping and assembling products using noiseless machinery or laborers.

Trading License

A trading license grants authorization for storage, distribution, importing, exporting and selling of products that are specified in the license. You can sell the finished your goods and products, but it is allowed within UAE and only through a licensed local distributor or agent. Dubai Logistics City

Service License

With a service license you can carry out activities like Dubai Logistics City training, consulting, insurance, and catering.

Education License

With the Education license you can carry out Dubai Logistics City operations in the field of educational consultancy, social services, and education.

Legal Entities in DIC

You can choose one of these entities

1. Limited Liability Company

  • LLC is a legal entity with its own stature
  • Liability of a shareholder in a Limited Liability
  • Company is limited to the value of the share capital one holds
  • An LLC need to have directors, shareholders, general manager, and a company secretary
  • An LLC needs minimum Capital of AED 300,000 and a share of AED 1 no less

2. Branch of Foreign or Local Company

  • A branch is just like your child or a part of your existing legal entity outside the free zone
  • If you want to open a branch company in Dubai Logistics City you cannot have a board of directors
  • If you want to open a branch company you need a general manager who is responsible for the business activities
  • As the parent company your branch name need to be same and end with the designation

Procedure for Business Setup in DIC

  • The business setup procedure in Dubai Logistics City has been made simple for logistics companies in Dubai.
  • Fill your application form correctly and submit wait for approval from the free zone authority.
  • When you get approval from authorities the next step needs to proceed towards the business registration process.
  • Collect all the necessary documents you need to submit to the authorities which will be reviewed later. The approximate time taken for document reviewing is 15 days.
  • The business plan, along with other documents, should be submitted to the authorities.
  • After submitting the documents, the next step would be acquiring a business license.
  • The requested non-refundable fee should be submitted to the free zone authority.
  • Once all the documents have been verified and the fee has been paid, the Registrar of Companies will issue the following certificates

Limited Liability Company

  • Incorporation certificate
  • Each shareholder gets one’s individual share certificate
  • Memorandum of Association of the company
  • Articles of Incorporation of the company
  • Dubai Logistics City is a prime spot for logistics based companies that contribute to the import-export trade of a country.

Branch Dubai Logistics City

The registration certificate of the company

BCM Corporate Services Can Help You !

1. OPEN TO A RANGE OF BUSINESSES:

as well as attracting businesses from the regulated financial sectors of banking and wealth management (the free zone is home to 17 of the world’s top 20 banks), Dubai International Finance Centre also welcomes many companies from non-regulated industries. DIFC Company Formation is open to brokers, consultants, and service and product providers from industries as varied as HR, health and fitness, and jewellery trading.

2. ROBUST SETUP PROCEDURE:

A major reason why DIFC Company Formationis considered one of the UAE’s most prestigious free zones is its comprehensive setup process. Regulated businesses must first file a letter of intent with DIFC Company Formation and attend a meeting with representatives from both DIFC and the Dubai Financial Services Authority (DFSA). Once your submission has been informally reviewed, you can then make your full application. As well as a completed application form, you will also be required to provide usual setup documents such as visa and passport copies as well as a formal regulatory business plan and a three-year financial forecast. If all is in order, you will receive an In-Principal Approval from the DFSA and you must then provide proof of incorporation or registration with DIFC, open a corporate bank account and provide evidence that you have office space from which to trade. Only then will you receive your company licence. The process for non-regulated is slightly less strict, though the exact requirements will depend on the nature of your business.

3. CLEAR PRICING STRUCTURE:

While setting up in DIFC Company Formation is by no means cheap, its pricing structure is transparent. As well as an initial setup cost of USD 21,500, entrepreneurs are required to pay licensing fees, office costs and paid up-front share capital of USD 50,000. Another substantial cost to consider if you are setting up a regulated business is that of creating a business plan. As this must adhere to the London Law, the total cost of creation can run into the thousands. These costs, and indeed any payment to DIFC Company Formation or any other authority, must be made in US dollars.

4. AUDITING AND BOOKKEEPING REQUIREMENTS:

Dubai International Finance Centre’s strict auditing and bookkeeping requirements are yet another reason why it is one of the most respected free zones in the region. However, while regulations may be tight, that’s not to say they are overly complex. Businesses must simply keep up-to-date books and file an annual report – for which a USD 800 fee is payable.

5. EASY TO ARRANGE YOUR CORPORATE BANK ACCOUNT:

Once you’ve received your In-Principal Approval from DIFC Company Formation and the DFSA, you can set up your corporate bank account. The application process is quick and simple. DIFC Company Formation staff can advise on the best bank to suit your needs – and can even arrange meetings in-branch for you, should you wish. A company formation specialist can also provide the same service – or alternatively, you’re welcome to approach any local or international bank on your own.

6. DEDICATED VISA SERVICE:

DIFC’s dedicated Government Services office provides many administrative services, including the issue and renewal of employment visas. The maximum number of visas you can apply for will depend on both the type of business you wish to set up and – as physical office space is mandatory – the size of premises you lease in the free zone.

7. EASILY SPONSOR DEPENDANTS:

Dubai International Financial Centre is also on hand to help with visas for your dependants as well. Whether you wish to sponsor a maid, driver or family member, the process is relatively easy – entry permit, status adjustment, medical fitness test, then Emirates ID registration and visa stamping. Keep in mind, however, that visas for maids require a deposit of AED 2,060. As this is such an important process, it’s a good idea to get advice from an expert in setting up UAE free zone businesses. This ensures that before you start an application, both you and those you’re hoping to sponsor meet the entry criteria.

8. SET UP WITH MULTIPLE SHAREHOLDERS:

As well as its ideal location in central Dubai, there’s another reason for DIFC Company Formation popularity with large, multinational business: it allows for company setup with multiple shareholders. These can be individuals, corporate entities or a combination of the two.

9. ZERO PERCENT TAX:

It’s impossible to talk about the popularity of Dubai International Financial Centre without mentioning its favourable tax conditions. The free zone provides a 40-year guarantee of zero taxes on both corporate income and profits. This is thanks in large part to DIFC’s broad network of double taxation treaties with global regulators and central banks.

10. LOCATION, LOCATION, LOCATION:

Without a doubt, much of DIFC’s draw is down to its location. As well as being strategically placed to trade with both East and West, the free zone’s central location between new and old Dubai puts it in proximity to some of the city’s best schools and healthcare facilities. DIFC is also linked to Dubai’s main highway, putting important travel hubs such as Dubai International Airport within easy reach.

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