With a rapid increase in businesses all over the world and with the shift in the mindset of the Government of the United Arab Emirates from an economy dependent on the revenue from oil and gas to a more holistic economy, the scope of setting up a business in the increased ten-folds. People from all over the world are coming into the United Arab Emirates and setting up a business. This is due to the various advantages of setting up a business in the UAE and also the various steps taken up by the government to support the various business industries.
Dubai Airport Free Zone (DAFZ) is one of the free zones which was established with the assistance of the government of the jurisdiction. It was formed in the year 1996 and since then has contributed a big share in the economy of the country. This free zone has won many awards and is regarded as one of the fastest-growing free zones in the world.
The business-friendly environment coupled with the world-class services and state of the art infrastructure creates and provides business opportunities to many businessmen and entrepreneurs from all over the world. The strategic location of the free zone next to the Dubai International Airport allows easy access to businesses established in the free zone. It is currently home to more than 1,600 international firms from all over the world and is looking forward to bring in more businesses to the free zone.
There are a number of facilities available to a business and one can also choose from the various types of business spaces available in the free zone. The various offerings of the free zone are enumerated below:
1.Halal Trade and Marketing Centre
The Halal Trade and Marketing Centre (also known as HTMC) is a hub for business development which mainly focuses on the halal ecosystem and the opportunities being created in the halal sector. The HTMC acts as a one-stop-shop for market intelligence, halal compliance, growth support, etc.
This space is usually used for conducting various events of the business. This space can also be used for planning interviews or hosting a board meeting. DAFZA Square has all the necessary features which a budding company may require.
This is a technologically advanced facility that can be used by businesses for their growth and development. It comprises of state of the art lecture rooms, dedicated spaces for training, and for conducting seminars, and various other facilities.
The retail center at DAFZA comprises a number of retailers that range in various sectors and categories. The retail spaces are spacious provide a conducive environment and are loaded with various feature which can be used by a business for its benefit.
Office spaces in the Free Zone include:
This comes with exclusive desk space and the holder is also entitled to two employees Visa’s. It also has Wi-Fi support and comes with its own electrical fittings. It also has a 24-hour surveillance security system for better security.
This is the most popular office space segment in the free zone. Each office space is 25 sq. m. and is fully furnished with all the furnishings already included. It also has a 24-hour security system and cones with a third party Fire and Peril insurance (assigned by a DAFZ nominated company)
Each office space is 50 sq. m. and is completely furnished with all the fixtures and furniture in the office. It has Wi-Fi connectivity and the holder of the office is eligible for 6 Employment Visas.
The Standard lease office space is fully customizable and is suitable for every type of business.
Apart from these the free zone also provides Light Industrial Units, An industrial park, and its own retail space. Car parking is provided depending upon the office space.
Types of Businesses Available
There are six different types of licenses to choose from. They are:
5.General Trading License
6.Dual License with the DED
There are two types of company formation in the free zone:
- Free Zone Company (FZCO/FZ-LLC)
- Branch Office
Dubai Airport Free Zone Approved Auditor
Auditing is a very crucial service for any business and considering its importance, the government of the United Arab Emirates has made it mandatory to have auditing in the Dubai Airport Free Zone. A company that is established in the Dubai Airport Free zone must avail of Auditing services only from Auditors which have been approved by the management of the Dubai Airport Free Zone.
If you have a company established in the Dubai Airport Free Zone or are planning to set up a company in the Free Zone then you should look into the services provided by JAXA Chartered Accountants. JAXA is a reputed Accounting and Auditing firm and will assist you in all ways possible.
The auditor chosen by a business in the DMCC must be an approved auditor who has been agreed upon by the management of the free zone. No other regular auditor can conduct the audit of a company in the free zone. If the business appoints an auditor who is not an approved auditor, then in such a case, the audit will be considered null and void, and the company will have to face fines and other consequences.