- August 24, 2020
- Posted by: DBS Editorial Team
- Category: Free Zone Business Setup in UAE
Why is JAFZA one of the best free zones in Dubai?
Best free zones in Dubai are those regions that enhance the idea of establishing companies. These free zones offer productivity, innovation, entrepreneurship and sustainable future for businesses. Free zone authorities in Dubai constantly create measures to generate a convivial atmosphere for the entrepreneurs. They also subsequently stem solutions and build opportunities for free zone business setup in Dubai.
Aiming the same, the JAFZA free zone being the first free zone in Dubai continues to be the best even after several years of its initiation. JAFZA creates several business opportunities that explains why businessmen prefer JAFZA free zone.
Here is why Jebel Ali free zone or JAFZA is known as the best free zones in Dubai and across the UAE:
World’s Largest Free Zones
Did you know that JAFZA is the world’s largest free zones? JAFZA is known industry, trade and logistics. The free zone has played an essential role in appealing international partners to the country since 1985. Reportedly, till date JAFZA has 7,500 companies out of which 100 are Global Fortune 500 enterprises.
Highest Quality Management Standards
JAFZA applies the highest quality management standards. JAFZA initiated the Regional Security Management System standards in the Middle East. JAFZA has achieved ISO 28000: 2007 certification. The free zone is also certified by the United Nations Department of Safety and Security (UNDSS). The European Foundation for Quality Management (EFQM) as well awarded JAFZA with a five-star certification.
One Regulation For FZCO, FZE & Branch Offices
Free Zone Companies (FZCO), Free Zone Establishment (FZE), and branch offices in free zone – all are under one single regulation. JAFZA has made an initiative towards convenient proceedings of business setups in Dubai free zone. Reportedly, an amendment passed few years ago allowed FZCO, FZE and branches in free zone to convert or rearrange their operations from one category to another, as per their requirement.
Capital Reduction on Company Formation in JAFZA
Earlier, a free zone company registration in Dubai’s Jebel Ali Free Zone obligated a capital requirement of Dhs1Million for FZE’s, while Dhs500,000 for FZCO’s. However, currently JAFZA free zone authorities ask companies to hold a minimum capital. The capital amount depends on the business activity.
Relaxed Number of Shareholders
Free zone company setup in Jebel Ali Free Zone have no compulsion on the number of shareholders required. With relaxed number of shareholders required offers easy to the entrepreneurs. Minimum and maximum shareholder requirements for FZCOs will be from two to fifty, respectively.
Business in JAFZA can be a Public Listed Company (PLC)
Business Setup in Jebel Ali Free Zone can also be a Public Listed Company. JAFZA has announced a new Public Listed Company (PLC) that allows existing FZE and FZCO companies to list on the stock exchange. A PLC will follow a business framework that permits them to list shares on the Nasdaq Dubai Exchange, also making them applicable to PLC markets laws of UAE.
The new amendments imitate the need of a continuously evolving market in terms of offering facilities that are prompt as well as assuring and forming the best international practice.
Speak our experts to setup a JAFZA business or to know about other best free zones in Dubai:
To learn more about JAFZA or any other free zones to setup a business in Dubai speak to our consultants at DBS Business Setup.
We at DBS Business Setup offer you the best company formation services in Dubai and all over UAE. Dial +97145667485 or WhatsApp +971555813673 to request a call back. For more information send us your enquiry here https://www.dubaibusinessservices.com/contact-us/