Saturday, 1 March 2014

Rights Of FZE's and FZC's in UAE | Business Setup in Dubai | Company Formation | Free Zone Registration |





Rights of FZE's and FZC's 

One hundred per cent foreign ownership and full repatriation of profits and capital is 
                Permitted.  
·         Exemption from corporate and income taxes for a determined period, regardless of 
               Subsequent changes to local laws.  
·         Goods may be imported into the free zone, free of duty.  
·         It is relatively straightforward to set up a company in a free zone. The first step is to 
               complete a questionnaire issued by the relevant FZA. Once the questionnaire has been 
               onsidered by the FZA the company will be required to provide the FZA with information on 
               Individual shareholders are required to provide a personal profile which may include a 
               business background, specimen signatures, domicile and address.  
Corporate shareholders are required to provide:  
·         certificate ofregistration or good standing;  
·         memorandum and articles of association;  
·         board resolution authorizing the incorporation of the FZE or FZC;  
·         Powers of attorney in favor of the FZE/FZC managers; and e audited financial statements 
              for the last two financial years.  


·         Companies operating within the free zone are generally entitled to employ who they wish. 
However, various administrative requirements must be complied with such as providing the FZA 
with certain details of the license holder’s employees.  
·         While rates of pay are not specifically regulated, a minimum salary is stipulated in the JAFZ. 
Overtime rates are regulated by the FZA and shift working must be notified to the FZA.  
·         Working hours are regulated and these are shortened during the Holy Month of Ramadan. 
The shortened hours apply to all employees, regardless of religion. 
·         Employee numbers are restricted according to various criteria, including office area and 
machinery installation.

Vithul V Murali
Al Zaeim Corporate Services
Dubai Mobile : +971 50 55 73 538
Email  : Vithul@a2zconsultus.com
Skype : Vithul.murali

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