Dubai Textile City (DTC) is a joint effort by TEXMAS* and the Ports Customs and Free Zone Corporation (PCFC) to advance the Dubai involvement in the world textile market. DTC has become the largest and most convenient regional textile center. Business analysts expect the UAE textile market to become second only to the oil industry in the UAE trading economy. The area makes storage facilities for textile products available to traders in the re-export business. Long term storage in DTC provides relief for the 5% customs duty for stored products. In addition to dedicated warehouse facilities, the area offers front office and showroom spaces. Allowed business activities in the free zone are limited to trading in textile related products.
*TEXMAS is Textile Merchants Group. It is a UAE membership organization of Dubai wholesale textile merchants dedicated to enhance and improve the textile trade industry.
Benefits of Dubai Textile City
Dubai Textile City offers a list of benefits to businesses established inside the free zone. These benefits include:
• Full foreign ownership
• 100% repatriation of capital and profits
• No personal income tax
• No corporate tax
• Custom duties exemption
• Subleasing options available
• Goods transfer into the city customs duty free
• Long term lease – 30 years – renewable
• Rent-free for 15 years – pay only ground lease
• No intermediaries to add to costs
• Worldwide publicity promotes better business turnover
• Low operational expenses
• Dubai and the UAE is a safe and stable environment for doing business
Business Formation in Dubai Textile City
Dubai Textile City operates under the authority of the Jebel Ali Free Zone Authority (JAFZA) which administers business formation in the free zone. New businesses in DTC can be structured in one of three ways. A Free Zone Establishment (FZE) is an independent business with only one owner/shareholder. The shareholder may be a real person or a corporate entity. A Free Zone Company (FZCO) is a business with two or more (up to five) shareholders. These shareholders may be individuals or corporate entities. A Branch Office is a representative of an existing company. Branch offices do business in the name of a parent company and business activities are specified in the business license. The parent company can be a foreign company or an existing UAE establishment. The documents and capital requirements are different for establishing these business structures.
Documents required for a Free Zone Establishment with a real person applicant:
• A trade name must be registered and proof presented. Our firm (Push Digits) can manage this for you.
• Before starting business formation activities the applicant must receive initial approval. We* can arrange this for you.
• The owner/shareholder must provide a passport copy
• If a manger is designated, the manager must provide a passport copy and C.V. (resume).
• Personal Information Sheets must be completed for the owner/shareholder and manger. We* can provide a template.
• Suitable space for the business must be leased and document provided. We* can arrange a lease on appropriate space and provide documentation.
• If a Local Agent (Alya Auditors) is utilized, that agent must have a notarized Power of Attorney
The authority may require additional documents.
Documents required for a Free Zone Establishment with a corporate owner/applicant:
• A trade name must be registered and proof presented. Our firm (Push Digits) can manage this for you.
• Before starting business formation activities the applicant must receive initial approval. We* can arrange this for you.
• A Memorandum of Association and/or Articles of Association for the corporate applicant must be provided. This must be notarized by the UAE Embassy in the country of origin.
• A resolution from the Board of Directors of the corporate applicant indicating the intent to establish a new business in Dubai.. This must be notarized by the UAE Embassy in the country of origin.
• A certificate of registration for the Corporate applicant from the registrar of companies in the origin country. This must be notarized by the UAE Embassy in the country of origin.
• The shareholders must provide a passport copies.
• Manager must provide a passport copy and C.V. (resume).
• The physical address of the Corporate applicant must be provided.
• Personal Information Sheets must be completed for the each shareholder and manager. We* can provide a template.
• Suitable space for the business must be leased and document provided. We* can arrange a lease on appropriate space and provide documentation.
• If a Local Agent (Alya Auditors) is utilized, that agent must have a notarized Power of Attorney
The authority may require additional documents.
Our Clients
Our expertise and experience in professional accounting and consultancy equips us to provide our services to a wide range of clients ranging from service providers, traders to manufacturers. Our clients have every reason to say that we are the best professionals in the town in terms of our quality work and competitive prices.
Alya Al Marzooqi Auditing Chartered Accountants one among the leading Audit Firms in Dubai,With its head office at Business Bay & a branch in SAIF Zone.Approved in all the major free zones including DMCC,SAIF,JAFZA,DWC,Maydan etc providing professional services in the field of Auditing , Accounting ,VAT Consultation , Company Formation & CFO services etc.
For More Details Contact Us @ Tel : +971 4 876 9377, Mob: +971 52 975 0690, +971 52 475 4007
