Dafza cuts business set-up fees up to 65%

DUBAI / WAM

Dubai Airport Freezone Authority (Dafza) has reduced business set-up cost by up to 65 percent, as part of its aim to increase its regional competitiveness and activate a number of key sectors by attracting Foreign Direct Investment (FDI). Supporting Dubai’s efforts to become an ideal destination for investment and prosperity, the decision will help achieve further stability for the operational processes of free zone companies and consequently sustain and drive investment growth.
Dr Mohammed Al Zarooni, Director-General, Dafza, said, “These incentives were agreed upon following comprehensive studies and polls evaluating the free zone’s initiatives, services, and business environment. This has allowed us to ensure flexibility at Dafza in meeting the requirements of new foreign inve- stors and current customers.
“We are offering unique services that take into account the global economic climate and allow customers to increase earnings and operating profits as well as achieve business growth and prosperity. The ultimate goal is to drive local economic development and support the sustainability of direct FDI, accelerating and increasing its contribution to Dubai’s GDP.”
Dafza has revisited and reduced registration, license, and staff visa fees for new investors by 65 percent, 33 percent, and 20 percent, res- pectively. Establishment card issuance fees have been cut by 17 percent, while fees for Board Resolution and MOA issuance have been waived.
The new incentives include facilitating process of obtaining general trading licenses for new investors by having capital requirement from AED1 million to AED500,000. It has also allowed its member companies to be structured as a Limited Liability Free Zone Company, in a bid to provide more flexibility in business setup, licensing
and operation.