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Registering a company in Dubai Textile City in 2020
Starting a business in Dubai Textile City is profitable for the following reasons:
- No customs duties on import/export of goods;
- Zero corporate tax rate;
- Zero personal income tax rate;
- 100% foreign ownership;
- Provision of rental and sublease services;
- No restrictions on repatriation of profits and capital.
Business registration –from €10,990
Company registration period –from 14 daysDetailed information
Dubai Textile City (DTC) is a FZ, which began to exist in 2000, after the signing of an agreement between the port customs, the FZ corporation and Textile Merchants Group (Texmas). Texmas is the top textile wholesaler in Dubai. Qualified specialists of IQ Decision follow the innovations and are ready to provide their services for the registering of companies in UAE, as well as assistance in opening an account in Dubai and other regions.
Speaking in more detail about Texmas, its main goal is to expand boundaries of technical trade. To achieve its goals, the company built offices, exhibition halls, warehouses at its own expense. Texmas also provides its employees with advanced equipment. Customs and Immigration Services (EZW) contribute to the development of business and the access of this Free Zone to world markets.
You can set up a company in Textil City for free in 2 legal structures:
- FZ-LLC, which is an independent legal entity, stockholders can be both individuals and legal entities. Initial capital depends on the type of activity.
- A branch of a local level or an international company, activities of which depend on the parent company.
- trade industry;
- 100% tax exemption for individuals and legal entities;
- an absolute property of a foreign commercial organization;
- full repatriation of funds;
- no customs fees;
- a subarenda is possible;
- long rental available;
- the possibility of extending the lease;
- Register a trademark in UAE and confirm with a document;
- Submit an application;
- Get government approval;
- The owner/shareholder/manager is required to provide a copy of each passport and a resume;
- Be sure to conclude a lease and confirm this;
- When concluding a contract with a local agent, you must provide a notarized power of attorney;
Stages of registering of a commercial organization in DTC FZ for legal entities:
- Register TM in UAE;
- To start business in Dubai is possible after approval by the authorities;
- Provide MOA and AOA (notarized);
- Provide a decision of the board of directors;
- Provide a plan for your business;
- Obtain a certificate in UAE in the region of origin;
- Shareholders and managers must submit copies of passports and personal information;
- A bank statement;
- Documented location of the company;
- To rent a room or a plot;
- Notarized power of attorney for the local agent;
If you are interested and want to register a company in Emirates, contact IQ Decision specialists. Contacts are indicated on the site.
The information outlined in the article is actual at the time of its publication. Please refer to our specialists for checking possible solutions for your business.