Jumeirah Lake Towers (JLT) Free Zone was established in 2002 and is the only free zone in Dubai providing the necessary infrastructure for the registration of commodities market places in the UAE. Jumeirah Lake Towers Free Zone has a modern infrastructure and trade networking platforms in order to ensure the productivity of companies established there. Currently, Jumeriah Lake Towers host approximately 7,000 companies. The JLT Free Zone keeps attracting foreign investors not only in the commodities sector, but also in the financial, logistics and insurance sectors. The Dubai free zone falls under the regulations of the Dubai Multi Commodities Center (DMCC) Authority.
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Company set up procedure in Jumeirah Lake Towers
The Dubai Multi Commodities Center Authority allows foreign investors to open one of the following types of companies in the Jumeirah Lake Towers Free Zone:
- limited liability companies with one or more shareholders,
- limited liability companies as fully owned subsidiaries of foreign entities,
- branch offices of foreign companies.
Each type of company is required to apply for a business license with the DMCC Authority. Depending on the activities intended, companies registered in Jumeirah Lake Towers may apply for a trade license, a service license or an industrial license.
In order to register the company with the Dubai Companies Register, the following documents are required:
- a copy of the owner’s passport,
- proof of residential address,
- a business plan.
Certain types of activities will also require additional requirements or permits from other authorities. The company will also be required to have a registered office in the Jumeirah Lake Towers Free Zone.
Why open a company in Jumeirah Lake Towers Free Zone?
The DMCC Authority provides numerous tax advantages for foreign businessmen opening companies in Jumeirah Lake Towers. Among these are:
- no corporate or personal income tax for 50 years,
- full capital repatriation.
The Authority also provides immigration services and releases all the necessary visas for employing foreign workers.
For details about the main investment possibilities in Jumeirah Lake Towers Free Zone, you may contact our company formation agents in Dubai.