DAFZA is established and fully owned by the Dubai government and is one of the most premium Free Zones where investors can be part of the high-profile business sectors. Dubai Airport Freezone, or DAFZA, is a world-class business hub that provides a conducive environment for companies to grow and thrive in the UAE. Business setup in Dubai Airport Freezone offers several benefits, such as 100% foreign ownership, tax exemptions, world-class infrastructure, and easy access to global markets.
Dubai Airport Freezone – An Ideal Hub For Business
Dubai Airport Freezone was established in 1996 with a mission to provide a business-friendly environment that attracts investors from all over the world. It is strategically located in the heart of Dubai, near Dubai International Airport, which makes it an ideal location for global business transactions. DAFZA offers a range of world-class facilities and services that include office space, warehouses, workshops, and land plots for industrial and commercial use. It also has complete infrastructure and utilities, including road networks, power supply, water, and sewage systems, among others.
Benefits of Company Formation in Dubai Airport Freezone
1. 100% Foreign Ownership
One of the most significant benefits of company formation in Dubai Airport Freezone is that foreign investors can own 100% of the shares in their businesses. This means that investors do not need to have a local partner or sponsor, which reduces the risk of losing control over their businesses.
2. Tax Exemptions
Companies formed in Dubai Airport Freezone can benefit from complete tax exemptions, including corporate tax, income tax, and customs duty. This means that businesses can save a significant amount of money that would have gone into taxes, making it an ideal business destination.
3. World-Class Infrastructure
DAFZA offers world-class infrastructure and facilities that include office space, warehouses, and workshops. The facility also has complete utilities, including power supply, water, sewage, and telecommunication networks, among others. This makes it an ideal location for businesses that require a modern and efficient workplace.
4. Easy Access to Global Markets
Dubai Airport Freezone is strategically located near Dubai International Airport, which provides easy access to global markets. The facility is also near seaports, which makes it an ideal location for businesses that require shipping and logistics services.
Company Formation Process in Dubai Airport Freezone
The process of company formation in Dubai Airport Freezone is straightforward and can be completed in a few simple steps.
1. Business Plan
The first step in company formation in DAFZA is to develop a business plan that outlines the company’s objectives, goals, and strategies. The business plan should also include a financial plan that outlines the company’s funding requirements, revenue streams, and projected profits and losses.
2. Legal Structure
The next step is to decide on the legal structure of the company. DAFZA offers various business structures that include freezone companies, branch offices, and subsidiary companies. The investors should choose the structure that best suits their business needs and objectives.
3. Registration
Once the legal structure is decided, the investors should submit the necessary documents to the DAFZA authority for registration. The documents required for company formation in Dubai Airport Freezone include the business plan, passport copies of shareholders, a board resolution approving the formation of the company, and the lease agreement for office or warehouse space.
4. Licensing
After registration, the investors should obtain the necessary licenses from the DAFZA authority to commence their business operations. The most common licenses required for company formation in Dubai Airport Freezone include a trading license, a service license, and an industrial license, depending on the type of business.
5. Bank Account Opening
The final step is to open a bank account for the company. The investors should approach any of the licensed banks in the UAE to open a bank account. The banks may require additional documents such as a trade license, a lease agreement, and a board resolution approving the opening of the bank account.
Dubai Airport Freezone is an ideal location for investors looking to set up a business in Dubai. The facility offers several benefits, including tax exemptions, world-class infrastructure, and easy access to global markets. The process of company formation in Dubai Airport Freezone is straightforward and can be completed in a few simple steps. With the right business plan and legal structure, investors can establish a successful business in Dubai Airport Freezone and take advantage of the many benefits it offers.
HOW TO OPEN BANK ACCOUNT FOR DUBAI AIRPORT FREEZONE COMPANY ( DAFZA COMPANY BANK ACCOUNT OPENING IN DUBAI)
Opening a bank account for a Dubai Airport Freezone Company (DAFZA Company Bank Account) can be a straightforward process, but it depends on several factors such as the chosen bank and the type of business activity. Below are the steps to follow to open a bank account for a DAFZA Company :
1. Choose a Bank: There are several banks in the UAE that you can choose from to open your DAFZA Company Bank account. It is advisable to do some research and compare different banks to determine the one that best suits your needs.
2. Gather Required Documents: Before opening a bank account, you will need to have the necessary documents. The required documentation can vary depending on the bank, but you will typically need to have the following:
• Proof of Identification: Passport copy of the shareholders and directors
• Proof of Residence: A utility bill or tenancy contract to prove the shareholder’s address
• Certificate of Incorporation: This is a document that confirms your company is registered in DAFZA
• Memorandum of Association: This document outlines the stakeholders of the company and the activities it will undertake.
• Commercial License: A document from the DAFZA authority indicating the business activities, shareholders, and structure.
• Bank Statements : Last six months bank statements of the company shareholder is a mandatory document to open the bank account for DAFZA Company
3. Visit the Bank: Set up an appointment with the bank to open your bank account. Make sure to bring all the required documents. Some banks allow you to schedule an appointment online.
4. Fill the Application Form: Once you meet with the bank representative, you will be provided with a bank account application form to fill out. Make sure to fill out the form accurately and honestly.
5. Submit Required Documents: Provide all the required documents that you have gathered in step 2. The bank representative will review and verify these documents before opening your account.
6. Initial Deposit: You will be required to make an initial deposit when opening a bank account. The amount can vary depending on the chosen bank.
7. Account Activation: Once the bank verifies all the required documents and processes your initial deposit, your account will be activated, and you will receive your bank account details.
Opening a bank account for a DAFZA Company requires you to have the necessary documents, choose a suitable bank, and visit their branch to start the process. Ensure that you provide accurate information on the application form and prepare some additional funds to meet the initial deposit requirements.
How To Obtain an Employment Visa From Dubai Airport Freezone Authority Company (DAFZA)
Obtaining an employment visa for a Dubai Airport Freezone Authority Company (DAFZA) can seem like a daunting task. However, with the right guidance and preparation, the process can be relatively straightforward. This article will provide you with a comprehensive guide on how to obtain an employment visa for a DAFZA company, covering the required documentation, application process, and timelines.
DAFZA Employment Visa
Before delving into the process of obtaining an employment visa, it is essential to understand what it entails. An employment visa is a document that allows an individual to work legally in the UAE. It is issued by the Ministry of Human Resources and Emiratisation (MOHRE) in collaboration with the General Directorate of Residency and Foreigners Affairs (GDRFA). The employment visa is usually valid for two to three years, and it can be renewed once it expires. Several documents are required to apply for an employment visa, and this process can be facilitated through the DAFZA authority.
Documents Required for Obtaining an Employment Visa
Obtaining an employment visa for a DAFZA company requires specific documentation. These documents may vary depending on the individual and the type of work to be done. The required documents include:
1. Passport: The passport that you are holding should have a minimum validity of six months from the date of application. Additionally, ensure that you have enough blank pages in the passport for visa stamps.
2. Visa Application Form: This form can be obtained from MOHRE through the DAFZA authority.
3. Offer Letter: The offer letter should be issued by the DAFZA company that you will work for. It should contain details such as the job description, salary, and other terms of employment.
4. Education Certificates: You will need to provide your original educational certificates, including your diploma/degree certificate. These should be attested by the relevant authorities such as the UAE embassy in your home country and the Ministry of Foreign Affairs.
5. Medical Certificate: A medical certificate is required to attest that you are fit to work. You can obtain this certificate from a UAE embassy or an approved medical center.
6. Passport Size Photos: You will need two passport size photos of yourself.
7. Emirates ID Application: Once you arrive in the UAE, you will need to apply for a UAE ID card. The application process is integrated into the visa application process.
8. Entry Permit: After submitting your application, you will receive an Entry Permit, which allows you to enter the UAE legally.
Application Process for Obtaining an Employment Visa in DAFZA – Dubai – UAE
The application process for an employment visa for a DAFZA company can be broken down into the following steps:
1. Obtaining a Job Offer: The first step in obtaining an employment visa is obtaining a job offer from a DAFZA company. The offer letter should contain terms such as job details, remuneration, and other pertinent information related to your position.
2. Submission of Visa Application: Once you have the offer letter, the employer will apply for your employment visa on your behalf. This is done through MOHRE, and the process usually takes between two to four weeks. You will need to provide all the necessary documents to the employer, who will then submit them to MOHRE.
3. Entry Permit: Once your application has been approved, you will receive an Entry Permit. This permit allows you to enter the UAE legally. You will need to ensure that you have a copy of the entry permit when boarding your flight to the UAE.
4. Medical Test: After arriving in the UAE, you will need to take a medical test at an approved medical center. The purpose of this test is to check if you have any infectious diseases. The test results are usually received within two to three working days.
5. Emirates ID Application: Once you receive your medical test results, you can then apply for your Emirates ID card. This process takes between one to two weeks.
6. Visa Stamping: After you receive your Emirates ID card, you need to submit it, along with your passport and other documents, to the immigration authorities. Your visa will be stamped, and you can then officially commence working for the DAFZA company.
Timelines for Obtaining an Employment Visa in Dubai Airport Freezone Authority ( DAFZA – DUBAI)
The timelines for obtaining an employment visa for a DAFZA company can vary depending on a few factors such as the workload of the immigration authorities and the completeness of your documents. However, the entire process typically takes between four to eight weeks.
Obtaining an employment visa for a DAFZA company can be a straightforward process if you have the right documentation and follow the necessary steps. By following the guidelines outlined above, you can obtain your employment visa with relative ease. Ensure that you are aware of the latest immigration laws and requirements to avoid any delays or complications during the process.
HOW TO REGISTER VAT FOR DUBAI AIRPORT FREEZONE AUTHORITY (DAFZA) COMPANY IN DUBAI – UAE
Value Added Tax (VAT) is a tax on consumption that is applied to goods and services in the United Arab Emirates (UAE). DAFZA companies are required to register for VAT if their annual revenue exceeds the mandatory registration threshold of AED 375,000. In this article, we will guide you on how to register VAT for a DAFZA company in Dubai.
Step-by-Step Guide on How to Register VAT for a DAFZA Company in Dubai
1. Determine Your Company’s Eligibility: First, you need to determine whether your DAFZA company is eligible for VAT registration. Your company must have an annual revenue of over AED 375,000. If your company’s annual revenue is below this threshold, then you are not required to register for VAT.
2. Gather Required Documents: You will need to gather all the necessary documents before you begin the VAT registration process. The required documents include:
• Certificate of Incorporation for the DAFZA company
• Passport copies of shareholders and directors
• Memorandum of Association
• Articles of Association
• Trade license
• Power of Attorney if applicable
• Bank statements for the past 12 months
• Financial statements for the past 12 months
3. Register for VAT: You can register for VAT in DAFZA through the Federal Tax Authority (FTA) website. You will need to create an account on the website and fill in the application form with all the necessary information. You will also need to provide the required documents mentioned above.
4. Obtain a Tax Registration Number (TRN): After submitting the application, you will receive a Tax Registration Number (TRN) from the FTA. The TRN is a unique identification number that is assigned to your company for VAT purposes. You will need to use this number in all VAT-related transactions.
5. Start Collecting VAT: Once you receive your TRN, you can start collecting VAT on your goods and services. VAT is currently set at 5% in the UAE.
6. File VAT Returns: As a registered VAT entity, you are required to file VAT returns with the FTA. This should be done on a quarterly basis. You must file your VAT returns within 28 days from the end of the tax period.
Registering VAT for a DAFZA company in Dubai is a straightforward process as long as you have all the required documents and information. Ensure that you register for VAT if your company’s annual revenue exceeds the mandatory registration threshold, and file your VAT returns on time to avoid penalties and fines. The FTA provides ample resources on its website to assist with the VAT registration process.
CORPORATE TAX REGISTRATION AND RETURNS FOR DUBAI AIRPORT FREEZONE AUTHORITY ( DAFZA FREEZONE) COMPANY
In addition to Value Added Tax (VAT), Dubai Airport Freezone Authority (DAFZA) companies are also required to comply with corporate tax regulations. In this article, we will guide you through the process of corporate tax registration and filing returns for a DAFZA company.
Corporate Tax in DAFZA Companies
The United Arab Emirates (UAE) does not have a federal income tax system, but certain free zones such as DAFZA have their own corporate tax systems. DAFZA companies are subject to a corporate tax rate of 9% on their profit, which not means that they are to pay corporate tax. Tax payment depends on the turn over and services or trading offering to which territories.
Registration for Corporate Tax For DAFZA Companies , Dubai – UAE
While DAFZA companies are required to pay the corporate tax depends on the transaction of the company . Corporate tax, they are still required to register for corporate tax with the authorities. To register for corporate tax, you need to follow these steps:
1. Gather Required Documents: You will need to gather all the necessary documents before you begin the corporate tax registration process. The required documents include:
• Certificate of Incorporation for the DAFZA company
• Passport copies of shareholders and directors
• Memorandum of Association
• Articles of Association
• Trade license
• Power of Attorney if applicable
• Bank statements for the past 12 months
• Financial statements for the past 12 months
2. Apply for Registration: The registration application can be submitted online through the ministry website. You will need to provide all the required information and documents during the application process.
3. Receive Your Tax Card: Once your registration application is approved, you will receive a tax card from the Dubai Municipality. The tax card is an official document that confirms your corporate tax registration.
Filing Corporate Tax Returns for DAFZA Freezone Company
While DAFZA companies are not required to pay corporate tax, they are still required to file corporate tax returns. The corporate tax return must be filed annually to comply with the regulations of the Dubai Municipality. Here are the steps to file corporate tax returns:
1. Gather Required Information: You will need to gather all the necessary information before you file your corporate tax return. This includes financial statements for the period, details of any expenses incurred, and any other relevant financial information.
2. Prepare and Submit Your Return: The corporate tax return can be prepared online using the Dubai Municipality website. You will need to provide the required financial information, and ensure that the return is submitted before the due date.
3. Receive Confirmation: Once your corporate tax return is submitted, you will receive a confirmation from the Dubai Municipality. This confirmation will confirm that your corporate tax return has been received and processed.
While DAFZA companies are still required to register and file corporate tax returns with the UAE authorities . You can ensure that your DAFZA company is compliant with all relevant corporate tax regulations.
ACCOUNTING AND BOOKKEEPING SERVICES FOR DUBAI AIRPORT FREEZONE AUTHORITY ( DAFZA FREEZONE ) COMPANY
If you have a company in Dubai Airport Freezone Authority (DAFZA), it’s important to have accurate bookkeeping and accounting services to maintain the financial health of your business. Here’s what you need to know about accounting and bookkeeping services for DAFZA freezone company.
Bookkeeping Services DAFZA Freezone Company
Bookkeeping involves recording all financial transactions of a business on a regular basis. Bookkeeping services for DAFZA companies include:
1. Recording of Financial Transactions: Financial transactions, such as sales, purchases, and expenses, are recorded in an accounting system using the double-entry system.
2. Bank Reconciliation: Bank statements are reconciled with the accounting records to ensure that all transactions are accurately recorded.
3. Accounts Receivable and Payable: Records of accounts receivable and accounts payable are maintained to ensure that all payments are collected on time and bills are paid promptly.
4. General Ledger Maintenance: The general ledger is maintained to record all financial transactions in different accounts. This helps to keep track of the financial activity of the company.
5. Financial Statements: Regular financial statements are prepared, including balance sheet, profit and loss statement, and cash flow statement. This helps to understand the financial health of the company at any given time.
Accounting Services for DAFZA Freezone Company in Dubai – UAE
Accounting services involve the interpretation, analysis, and reporting of financial data to assist your decision-making process. Accounting services for DAFZA companies include:
1. Financial Analysis: Financial data is analyzed to identify trends and opportunities for growth. This helps in forecasting future financial performance of the company.
2. Budgeting and Forecasting: Budgets and forecasts are prepared based on the financial data to guide future business decisions.
3. Tax Planning and Preparation: Tax planning and preparation services are provided to ensure that the company is complying with all relevant tax laws and regulations.
4. Audit Support: Support is provided to ensure that audits are carried out smoothly and accurately.
5. Advisory Services: Advisory services are provided to assist in making informed decisions based on financial data.
Benefits of Accounting and Bookkeeping Services for Freezone Company – Dubai
1. Accurate and Timely Records: Accounting and bookkeeping services ensure that all financial records are accurate and up-to-date.
2. Time-Saving: Outsourcing bookkeeping and accounting services frees up time and resources that can be allocated towards growing the business.
3. Compliance: Complying with financial regulations and laws is made easier with professional bookkeeping and accounting services.
4. Better Decision-Making: Accurate financial data and reports provide business owners with the necessary data to make informed decisions.
Bookkeeping and accounting services are crucial for the success of any business – including those in DAFZA freezone. Accounting and bookkeeping services provide accurate financial records, financial analysis, tax compliance, audit support and other advisory services. By outsourcing these services, business owners can focus on growing their business while ensuring that the financial health of the company is maintained.
NEX consultants are well-equipped to provide a range of professional services to assist DAFZA freezone companies in various areas of business. When it comes to company setup, NEX consultants can provide guidance on legal and administrative requirements, assist in obtaining necessary licenses and permits, and even help with finding suitable office space.
NEX can provide compliance services, ensuring that companies remain in line with local regulations and requirements. This includes advice on policies, procedures, and risk management. As the introduction of VAT in the UAE has made tax compliance more complex, NEX can assist companies in understanding VAT laws, registering for VAT, and filing tax returns.Our accounting and bookkeeping services can offer businesses reliable financial record-keeping, essential for financial planning, tracking performance, and fulfilling audit requirements. NEX can assist with corporate tax issues such as identifying opportunities for tax savings, ensuring adherence to tax policies, and providing guidance on tax audit preparations. NEX consultants bring a wealth of experience, knowledge, and skills that can be utilized to the benefit of DAFZA companies for these important services.