In Dubai, there’s no drought of business-perfect free trade zones to consider, where you can create the company of your dreams. But Dubai World Trade Centre (DWTC) has its own style to impress business persons. Yes, we are talking about the first skyscraper of the city that you see on the 100-dirham banknote as well!
First monikered Sheikh Rashid Tower, Dubai World Trade Centre is a grand 39-story structure, scraping the skies of Dubai with its 184 m height. Standing high since 1979 on the 24×7 bustling Sheikh Zayed Road, the bad boy is no more limited to hosting events, trade shows and exhibitions only in its gigantic venue space. The towering complex today features commercial facilities including the Convention Tower and the One Central complete with several mixed-use buildings in addition to several event halls, meeting rooms and Trade Centre Arena already at work. Consulate Generals of Switzerland, Japan, Italy and Turkey call it home. World-famous landmarks namely Dubai International Financial Center (DIFC), Burj Khalifa, and the Emirates Tower are in the vicinity, and don’t be surprised if you find two of the Accor-owned hotels – Novotel and ‘ibis – at a stone’s throw distance from DWTC. Presenting an ideal environment for leading companies, Dubai World Trade Centre Free Zone has everything in one place to cater to the needs of modern corporations and businesses. Determined to become an all-around zone and regulator of cryptocurrencies, products, operators and exchanges, DWTC signed a cooperation agreement with cryptocurrency exchange Binance in 2021 to establish an international virtual asset ecosystem. The diversified free zone, always at its toe to contribute to the country’s economy, invites businesses from a multitude of sectors to become a part of the growth story. And the cherry on the top is – Registration, Licensing, Immigration, and General Administration, all services are delivered under one convenient roof.
Tax incentives and reduced red tapes are just some of the perks of DWTC company formation. With a Dubai World Trade Center Free Zone business licence, your business setup will be centrally-located and cost-effective. And you can benefit from the proximity to top international companies and international events for establishing a solid business network. The DWTC Free zone licences allow firms of all sizes, from startups and SMEs to large multinationals, to enjoy the myriad perks to operate in Dubai. With tons of remarkable opportunities that the business-friendly and enabling destination offers for businesses with effortless free-zone licensing and Branch licensing for Foreign Companies and UAE LLC companies, the world is your oyster!
Benefits of DWTC Business Setup
The Dubai World Trade Centre Authority proposes premier incentives for branches and new companies looking to set up a business in One Central’s free zone. Some of them includes:
- Highly competitive, single-point of contact operation for corporations
- Unique and flexible offers to operate seamlessly
- The efficient and personalised company incorporation process
- Empowering policies and practices with minimum red tapes
- Freedom to initiate multiple options for legal operating structures
- Home to leading MNCs
- Located smack dab in the heart of Dubai’s Central Business District
- On-site accommodation and hotels
- Restriction-free foreign employee hiring
- No personal income tax and corporate tax for a renewable term of 50 years
- 100% foreign ownership
- “Benefit packages” for startups and SMEs
- No conditions over capital nationality
- No restrictions on industry or business types
- 100% repatriation of capital and profits
- Repatriation of funds and currency is allowed
- No export/import duties
- Attractive business-perfect regulatory environment for Single and Multi-Family Offices to set up in Dubai
- Suitable assortment of onshore and offshore operations
- Incredible office leasing options, coupled with comprehensive high-end property management and services to tenants
- Stable and precise regulations
- Dual licensing opportunities are offered
- Flexible licencing options
- The free zone acts as a global gateway, boasting over 3 million annual visitors from about 160 countries
- Freedom to originate multiple options for legal operating structures
Licence/Permit Options with DWTC
Licencing process with DWTC Authority is flexible and one can avail of licences under the following broad categories to legally operate from the versatile Free Zone:
- Commercial Licence: To conduct specific commercial activities such as the import, export, sale, distribution and storage of items permissible within the licence.
- General Trading Licence: For performing commercial activities across an unrestricted range of activities, products and/or items using this licence, and as such allows for the holder to import, export, sell, distribute and/or store all such categories under this licence.
- Professional Licence: To provide defined services within the Free Zone and elsewhere in the UAE (subject to local licences and permits that other jurisdictions may demand). A multitude of services including advisory, general consulting, software implementation, training, and human resource services can be conducted with this licence type.
- Event Management Licence: For organising Meetings, Incentives, Conferences and Exhibitions (MICE) as well as any Business and Leisure events and the provision of all affiliated goods and services being hosted by an organiser.
- E-Commerce Licence: For platforms trading goods and services online in the UAE
- Single Family Office: Offices established by family members to manage and service the wealth of a single family.
- Multi-Family Office: Offices launched by consultants for the provision of wealth management services to multiple families.
- Business Operating Permits: One of DWTC Authority’s unique selling points is the option for locally-licenced onshore entities to either relocate or obtain a lease within the Free Zone. This is attained through the issuing of a Business Operating Permit to entities already licenced by the Dubai Department of Economic Development that want to obtain a lease and operate in the Free Zone.
Business Services Provided by DWTC Free Zone
Registering as a free zone company in Dubai is a no-sweat with the DWTC Authority, whether it’s a new company or a branch. The Authority is your single point of contact for the end-to-end company setup process, so the individuals don’t have to go anywhere else looking for their queries. DWTC Authority works directly with companies to find the best alternatives to fulfil their unique needs. Their dedicated team is also there to navigate you through all related processes and details, from company registration and licencing to immigration services. Under their one roof, you can avail of all the services that you need today or might need in the future viz.:
- Issuance and renewal of licences and permits
- Amendment of the terms of a licence or permit
- Personalised and smooth procedures single window
- General Administration Services; including registration, maintenance and issuing certificates for any purposes in addition to NOCs
Types of Companies That Can Be Formed Under DWTC Jurisdiction
Entrepreneurs can transform their business ideas into reality in the form of following company types in DWTC:
- Free Zone Company (FZCO)
- Free Zone Establishment (FZE)
- UAE Branch
- Foreign Branch
Steps to Set Up a Business in DWTC
Forming a DWTC company is seamless, straightforward and relaxed. The Dubai World Trade Centre Authority furnishes applicants with a one-on-one, personalised approach to free zone licensing and procedures, complemented with a premium site and unparallel operational standards. The process of obtaining a business licence from DWTC Authority is streamlined and can be completed in five simple steps as follows:
Step 1: Initiate Application/s: Duly complete the specific trade licence application, attach the initial documents and submit it to the Authority.
Step 2: Collect Initial Approval & Ready Other Commercial Documents: After receiving initial approval, gather the final papers to complete your file. This might include external approvals from relevant authorities.
Step 3: Do the Final Submission: Submit the pending documents for review. The list of relevant free zone business formation documents includes, but is not limited to:
- The Memorandum of Association (MOA) and Articles of Association (AOA) or partnership agreement deed (in case of a partnership firm)
- A copy of commercial lease agreement
- Licensing fee payment proof
- Passport & visa copies
Step 4: Sign the Lease & Collect the Trade Licence: Offices in DWTC can come the way you would like them to be: ‘shell and core’ allow for complete customisation of the space, while ‘fitted’ and ‘ready-to-move-in’ options facilitate the relocation process. Finalise your business’s new office space, sign the lease contract and collect your keys and business licence after making the required payments.
Step 5: Process the UAE Residence Visa & Open a Corporate Bank Account to Commence Operations: Once you have the trade licence and establishment card of your company with you, you may apply for the UAE residency and a corporate bank account with a global bank in Dubai to get going with the other post-business setup steps such as hiring employees, buying business insurance, purchasing a payment gateway, registering your trademark, etc.
Meet Your DWTC Free Zone Business Setup Advisor in Dubai
Setting up a free zone company in Dubai is a cakewalk with Adam Global, a business setup consultancy serving the industry for the last 2 decades. With our qualified business formation specialists by your side, neither you have to worry about the initial steps of company formation nor the latter steps once the company is established. As your business setup guide, we’re here to help you every step of the way. Without a doubt, DWTC is a great choice for your first or next business setup. And it’s a great move as well! Meet our team before you make the next big move in your life to know your options. We’re here to make your business setup process in Dubai as comfortable and efficient as possible. Our initial no-obligation consultation is completely free. Also, you will walk away with a clear understanding of what is involved in launching your business in DWTC.