Dubai Airport Freezone
| Abbreviation | DAFZA |
|---|---|
| Founded | 1996 |
| Type | Developer and Operator |
| Headquarters | Dubai, United Arab Emirates |
Area served | Global |
Key people |
|
| Website | www.dafz.ae |
Dubai Airport Free Zone (DAFZA) was established as a free economic zone in 1996 as part of the Dubai Government’s strategic plan to be an investment driven economy. Today it is one of the fastest growing free zones in the region contributing 4.7 per cent of Dubai's GDP (gross domestic product).
DAFZA provides international investors with 100 per cent tax exemption, 100 per cent foreign ownership and no currency restrictions. The inner-city DAFZA is currently home to 1,600 companies from across the globe. These companies cover a vast number of key industry sectors including electronic and electrical, IT and telecommunications, pharmaceutical and cosmetics, engineering and building materials, aerospace and aviation, logistics and freight, food and beverage, jewelry and precious stones as well as luxury items.
The free zone itself stretches over an area of 696,000 square meters, which includes 13 buildings and 256 warehouses however when it was first established, it was only two central buildings and one warehouse facility.
Facilities and Services
DAFZA has an infrastructure of established offices, thermally insulated and purpose-built units, conference rooms, a lecture hall, a business lounge and telecommunication services. The complex also has a spa, coffee shops, banking and postal services. DAFZA’s services include licensing and registration, employee sponsorship, online transactions processing for all services (Tas’heel), 24 hours security services, housekeeping and building maintenance, government services including immigration, customs and a Chamber of Commerce plus post, telecommunications and banking facilities.
Types of Licenses
In Dubai a trade license is required to conduct business. DAFZA specialize in three types of licenses: Trade License which entitles the holder to import, export, distribute and store items specified in the license; Service License which entitles the holder to carry out services specified in the license; Industrial License which entitles the holder to carry light industrial activities, packaging and assembling.
Types of Companies
DAFZA allows for two different types of companies to be set up in Dubai, a Free Zone Establishment (FZE), which is formed with a minimum of one shareholder and a maximum of 50, either individual (a person) or non-individual (a company) and a Branch Office of an existing company whereby a foreign company can set up a branch of its existing company in DAFZA.
References
- ↑ "Dubai Airport Free zone Official web page". Official Website. Retrieved 2015-10-27.
- ↑ "About DAFZA". The Dubai Government. Retrieved 2015-10-27.
- ↑ "About Dubai Airport Free zone". Business-Dubai.com. Retrieved 2015-10-27.