DWTC Company Formation: Dubai World Trade Centre Freezone
- Company setup from 8,000 AED
- Residence visas for 2 years
- Company formation from 3-4 working weeks
- Bank account Guaranteed
About DWTC
The Dubai World Trade Centre Free Zone (DWTC) was inaugurated in 2016. It is one of the most recent additions to Dubai’s portfolio of affordable free zones. It is nestled within the heart of the commercial hubs of Dubai, making it appropriate for SMEs and startups looking to expand locally and tap into global and regional markets.
This bustling hub offers a constant stream of business and networking opportunities as it hosts many exhibitions. It is further situated within the esteemed area of the World Trade Centre. It also offers a wide range of office spaces open for lease to businesses in various sectors looking for a viable commercial address.
Furthermore, the DWTC authority manages it. The free zone encompasses an extensive area that starts at the Trade Centre Tower, known historically as the Sheikh Rashid Tower, and extends to One Central and the Dubai International Convention and Exhibition Centre. These are the latest developments in terms of commercial usage within the DWTC.
The location allows you to drive to the Dubai International Airport within ten minutes, excelling in accessibility. Additionally, there is a plethora of banks and hotels within walking distance. These factors further glorify the attractiveness of this dynamic and vibrant free zone collectively and make this location a covered one for business.
For individuals of high-risk nationalities, DWTC is often a preferred choice since it offers the prospect of obtaining a resident visa based on pre-approval
Decide if Company formation in DWTC is helpful for you
— Yes
- Your business, whether an SME or startup, wants to tap into global or regional markets or expand locally.
- Your business activity revolves around consultancy, trading, or other services on a professional level.
- You are looking for an easily formed business setup with minimal documentation required in Dubai. DWTC is considered one of the most cost-effective free zones in Dubai. Furthermore, it offers a variety of package solutions for business professionals, including flex desks.
- You want to establish your business in a vibrant hub with high-end networking opportunities and excellent infrastructure. DWTC is located in the heart of Dubai, strategically within the esteemed World Trade Centre.
- If your staff or you come from nationalities that are considered to be high-risk in nature, such as the Middle Eastern countries of Syria, Iran, Iraq, Lebanon, Turkey, etc. DWTC enhances your chances of opening a corporate bank account or receiving a resident visa based on pre-approval.
After all, the Dubai South Free Zone and Dubai Multi Commodities Centre are viable options for alternative solutions.
— No
- You’re looking for a business setup outside of Dubai.
- You’re looking forward to enhancing your involvement in business activities surrounding heavy logistics and industrial activities and needing facilities such as land plots, industrial land, and warehouses. For these purposes, we would like to suggest RAKEZ or JAFZA-free zones.
Company formation in the DWTC Free Zone
Setting up a company in DWTC takes about three to four weeks and is looked after by the DWTC authority. This process can also be carried out by consultants who are experts at setting up businesses; hence, the presence of company shareholders is optional.
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Office No 20, 4th Floor, Al Moosa Tower 2,
Sheikh Zayed Road Dubai, United Arab Emirates P.O. Box 27614.
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+971 4 824 4842
info@jsbincorporation.com
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Process of company registration in DWTC
Step 1: Choosing the type of business activity and type of license
You must determine the business activity in which your future company will be involved and the corresponding license type. This is a vital step for a successful business setup since choosing the wrong license type and activity can cause mistakes during the company’s registration.
This can also lead to problems obtaining residency visas for your employees and yourself or opening a bank account.
Step 2: Determination of the legal entity of your business
The legal status of your company needs to be stated. The DWTC offers several types of companies the opportunity to establish business organizations based on the need for business activities and a preferred number of shareholders. The various options include:
Branch: Within DWTC, a branch of an already existing parent company can be opened with 100% sponsorship, subject to its activities and names. Parent companies can be based in the UAE or another foreign country.
FZCO (Free Zone Company): Multiple shareholders, including nonindividual and individual companies, can form a free zone LLC.
FZE (Free Zone Establishment): A free zone LLC consisting of a single shareholder, a non-individual, or an individual company.
Step 3: Preparation and filing of the required documentation
After proper preparation, submit all necessary documents along with an application form. The following documents must be presented to the DWTC authorities for initial approval for the company’s registration.- Short business plan along with a short description of your activity
- Your professional activity as a part of your CV
- Passport copy
You need to submit some additional documents after the initial approval. These include:
- Resolution of the board
- Bank document verifying the deposit of your share capital
- Articles of association and memorandum
- Your general manager’s specimen signature
All processing and registration fees must be paid during this process.
Step 4: Collection of license and registration documents
The documents and licenses that you need to secure include:- Lease agreement
- Articles of association and memorandum
- Business License
- Certificate of incorporation
If you need to submit additional documents, such as a Certificate of Good Standing and Certificate of Incumbency, you must pay an extra 3,000 AED per document.
Step 5: Securing your establishment card
You need to secure your visa quotes and establishment card containing company information.
Step 6: Application for entry permit
If you are absent from the UAE during the processing of the entry permit, you will need to come to the country when the document is issued within the next 60 days to complete the biometrics and medical test for the visa.
If you’re in the UAE when the permit is issued, your status will change from your previous residency visa for a UAE tourist visa to the new one.
Step 7: Take the medical test and submit visa documents
Undergo a medical checkup and submit all necessary documents for the residency visa. Different registration packages may make various visas available for company employees and owners.
Step 8: Collect your Emirates ID
Once the visa has been collected, you must secure your Emirates ID card.
Step 9: Opening of a bank account
You can apply to any bank based in the UAE to open a corporate bank account. You can start running your business once you receive your corporate account details.
License cost in DWTC
DWTC stands out as an excellent choice for establishing your business in Dubai. It is one of Dubai’s most affordable and cost-effective free zones, providing many advantages at affordable rates. Three distinct solutions emerge from the variety of offers made by the DWTC. The following table delves deep into them:
| Item and Description | Cost, AED |
|---|---|
|
License + 1 visa for individual shareholders + flexi-desk |
17,800 |
|
License + 2 visas for individual shareholders + flexi-desk |
25,500 |
|
License + executive office + 3 visas |
42,800 |
|
License + executive office + 6 visas |
67,300 |
An executive office is a must for a general trading license. That is the minimum facility required. A General Trading License requires an additional deposit of twelve thousand AED annually.
The packages above exclude the one-time security deposit of 3,500 AED, visa charges, and car parking.
DWTC business activities and licenses
A broad spectrum of business activities is accommodated across the following general categories:
- Consultancy
- Trading
- Services
Various business activities are allowed under one license in DWTC. The uniqueness of the feature lies in the fact that ten activities can be incorporated under one license, given they fall under the same category.
If an activity belonging to a different parent category is added under the same license with the additional cost of 15,000 AED. Industrial activities are not catered to in the DWTC.
The Dubai World Trade Centre Free Zone offers four types of licenses for businesses of all sizes. The business licenses supported by the DWTC are listed below, along with their descriptions.
| DWTC LICENSE TYPE | DESCRIPTION OF LICENSE |
|---|---|
|
E-commerce |
Allows businesses to sell and buy services and goods over the Internet. |
|
Event management |
Allows businesses to manage and organize events such as trade shows, exhibitions, and conferences. |
|
Professional |
Allows businesses to provide professional consulting, legal, and accounting services. |
|
Commercial (without and with a general trading license) |
Allows businesses to export and import goods and sell and distribute them. |
Facilities of DWTC
Clients and access to standard or conventional offices with flexible workspaces and executive offices by the Dubai World Trade Centre Free Zone, housed within the Tower of historic Sheikh Rashid. In 1979, this was constructed as the first skyscraper in Dubai. It is home to the Dubai Financial Market and is a landmark.
Flexi desks or flexible workspaces are readily available and offer the versatility businesses require today. Due to the exceedingly high demand, the availability of these offices varies often. They are allocated on a first-come, first-served basis.
The options of facilities offered by DWTC include:
| Facility Type | Description |
|---|---|
|
Flexi-desks |
A collaborative shared workstation that is cost-effective and convenient for business setup solutions with a company address linked to the free zone. |
|
Standard (Conventional) Offices |
Various equipped office spaces are available in different sizes for all business needs. |
|
Executive Offices |
Highly configurable and furnishable offices in one of the prime locations of Dubai with world-class amenities provided. |
Regardless of your specific needs, you are bound to find a suitable location within one of the nearby business centers or within the free zone itself.
The free zone’s offerings extend beyond its premises, allowing clients to rent workspaces at any of the business centers in the Convention Tower or One Central Development.
One Central is renowned as one of Dubai’s most fashionable and dynamic destinations in the World Trade Center. The Convention Tower is a 13-story commercial building built for significant corporate entities, with substantial office spaces on offer.
Residence visas in DWTC
Eligibility for residence visas applies to the Dubai World Trade Centre Free Zone, just like other free zones in the UAE. The size of the premises you have selected for your office and the type of your company influence the number of available visa quotas.
- Flexi-desks: up to 2 visas
- Executive office: up to 6 visas
| DWTC FEE, AED | MEDICAL CHECK-UP, AED | EMIRATES ID, AED | |
|---|---|---|---|
|
Employee Visa |
3,200 applicants in the UAE
2,000 for applicants outside the UAE |
755 |
390 |
|
Investor Visa |
3,200 applicants in the UAE
2,000 for applicants outside the UAE |
755 |
390 |
The visa costs in DWTC are among the lowest in the UAE. An investor visa is available for shareholders who hold more than fifty percent of the company shares. All visas are valid for 2 years.
DWTC license renewal
After one year from the date of registration, any company renewal in the DWTC can be done. This process includes the renewal of the office lease and license. You need to pay the following feed to execute the renewal of your company:
- Fees for office facility
- Cost of establishment cards
- Fees for license
The payment amount is mentioned in the following table:
| FEE | COST, AED |
|---|---|
|
Flexi-desk annual renewal (1-2 visa quotas) |
7,500-13,200 |
|
Yearly Payment of establishment card |
2,300 |
|
DWTC license renewal |
10,000 |
You can contact your business setup consultant to renew your business. They will prepare an application with all necessary documents for the authorities of the free zone. You need to sign the renewed agreement, pay the renewal fee, and await the license that needs to be renewed.
An audit is optional for the license renewal process in DWTC. You need to provide your tax registration certificate to the free zone authorities when your company is under renewal if your company is registered for VAT.
DWTC company regulations and amendments
- Change of manager
- Transfer of shares
- Change of trade name
- Change of activity
Different prices are allocated to other amendments. The free zone authority will issue you a new license with the freshly amended information.
DWTC Liquidation of Company
If you decide to liquidate or close your company in the Dubai World Trade Centre Free Zone, you must pay the liquidation fee and return the original documents. The cost of liquidation through license re-registration is 3,000 AED. The following steps need to be followed to liquidate the company.
- Provide the below-mentioned necessary documents:
- Clearance from Etisalat and DU
- Clearance from the finance department of DWTC
- Closure letter and clearance of bank account
- All company incorporation documents, including business license
- Documentation of de-registration
- Special resolution, notarized and attested by the shareholders, stating the reason for the liquidation of the company
- Settlement of all payments, including the cancellation fees. Once this has been done, the liquidation process is initiated.
- All immigration-related documents and residence visas issued by the company need to be canceled.
- You will be notified and receive all corresponding documents upon completing the liquidation.
- Regarding the company closure, you need to publish a newspaper article in any national paper in the UAE.
Conclusion
JSB Incorporation helps you set up your business organization in Dubai. We provide services that assist you in forming, running, and scaling up your business in the UAE. Our efficient and affordable services will allow you to focus on growing your business. Call us today to learn more.
FAQs
As per the regulations of the UAE Central Bank, a personal visit to the UAE is required. However, some banks allow remote account opening.
If only one shareholder exists, you can quickly obtain a debit card for your newly opened company. A fixed deposit is necessary to get a credit card. Based on the profits and operations of the company, the bank decides whether your company is eligible for a loan or not.
Any business eligible for resident visas must have a flex desk. It is the bare minimum of physical office space required of a business that employs people under its visa.
VAT obligations depend upon the location of business activity and the registration location. When the taxable turnover hits AED 375,000, VAT is applied. As long as the products or services are provided outside of the United Arab Emirates, a free zone company's foreign trading activities are not taxable.
The country is free from personal income tax. However, there is a 5% import tax on goods brought into the country and a 5% VAT on trading or service transactions in the UAE.
Don't miss out on this limited-time opportunity!
We'd Love To Hear From You
contact us
Find us Here
Office No 20, 4th Floor, Al Moosa Tower 2,
Sheikh Zayed Road Dubai, United Arab Emirates P.O. Box 27614.
Get In touch
+971 4 824 4842
info@jsbincorporation.com