5 Benefits of Forming a Company in JAFZA Free Zone
The Jebel Ali Free Zone (JAFZA) is an industrial area located in Dubai. JAFZA is home to factories, offices, companies and corporations from around the world. It is a complete business area, with several advantages and incentives for companies to set an office here. These include tax incentives, exemption on import duties, exemption on setting up a company office and many more.
Companies located in the JAFZA area can also avail free import options for their raw material and machinery so that they can start making a profit and make their business stable before having to pay taxes.
Companies can enjoy even greater benefits of formation in JAFZA when the business is transacted through its own e-commerce website. This makes it very easy for businesses to enjoy the maximum benefit of having their own registered office in JAFZA.
The law for JAFZA is even more beneficial to companies, as it protects them against corporate corruption. There are no business disputes between the parties to such regulations, which make them absolutely secure. Companies enjoy such benefits due to the presence of a number of international standards for ensuring their business transaction to be legal and safe.
There are certain regulations and requirements that companies have to fulfil before they can register with the Companies Registry. One of the most important requirements is that a company must have at least one director. This director’s main role is to act as the company’s general manager and is responsible for the company’s day to day activities. There are other vital roles that the company’s directors must also fulfil, and their services are only rendered when a company wants its services or wants advice from its auditors.
Registration with the Companies Registry also enables the company’s directors and officers to use their business name and get registered with the Trade Marks (TMC). After forming a Company in JAFZA, the TMC is issued to the company, and the company is able to use its business name until such time as it sells the business. However, there is no guarantee that the company will become successful and will be able to continue generating revenue; in fact, success is highly unpredictable. In case of an unsuccessful registration with the Companies Registry, the company is required to dissolve itself and form a new legal entity.
As you can see, there are quite a lot of benefits associated with company formation in JAFZA. There are numerous companies that have begun their businesses in JAFZA Free Zone, and there are new companies forming every day. However, there are certain requirements that companies must fulfill before they can register with the Trade Marks in question.
