Business Setup in Dubai World Trade Centre Free Zone (DWTC)

The Dubai World Trade Centre Free Zone holds a good reputation among the foreign investors and big corporations as it offers them the best solution to set up and expand their businesses in a Dubai’s Central Business District. The Free Zone regulated by the DWTC Authority  (DWTCA) offers a well-regulated eco system that enables the companies grow and compete globally. The DWTC Free Zone is home to more than 350 companies from more than 40 industries. The Free Zone is located in the iconic Dubai World Trade Centre and therefore the companies can get access to world-class trade events. A variety of free zone licenses, flexible work spaces, and the benefits of 100% ownership and repatriation of capital make the DWTC Free Zone a preferred choice among the investors.

Also Read: Business Setup in Dubai Free Zone

The Dubai World Trade Centre was established in 1979 and serves as pivot of the businesses in the Middle East. The DWTC had undeniable role in the development of the trade and tourism sector of Dubai since its inception. The DWTC was formed to make Dubai as the global centre of exhibitions, events and conferences.  The DWTC has been declared as a free zone in 2015 as per the Law No (9) 0f 2015 by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and the Ruler of Dubai. The Free Zone was formed to attract local and international investments and also boost exhibitions and conferences in Dubai. The DWTC Free Zone is not categorised as a Designated Zone by the Federal Tax Authority (FTA) for VAT purposes. The Designated Zones are considered being outside the UAE for VAT purposes and specific rules apply to the transaction of goods and services to and from the Designated Zones.

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    Types of Licenses in DWTC Free Zone

    The DWTC Free Zone licenses enable the companies to perform most of the activities permitted by the Dubai Economic Development (DED). With a Free Zone License, foreign investors can set up a new company or establish a branch in the DWTC Free Zone. Unlike the other UAE Free Zones, the DWTCA provides a unique license designed to conduct businesses related to events and conferences. The following are the 4 types of licenses in the DWTC Free Zone:

    1. Professional
    2. Commercial
    3. General Trading License
    4. Event Management License
    Business-Setup-in-Dubai-World-Trade-Centre-Free-Zone-DWTC

    Legal Structures Allowed in DWTC Free Zone

    Every free zone offers a distinct set of legal structures for the investors wishing to form a company. The entrepreneurs, with the help of business setup consultants in Dubai, can choose the best legal structure that fits their business purposes. The DWTCA offers the following legal structures:

    a) Free Zone Company

    The investors can establish an FZCO in the DWTC Free Zone with multiple shareholders. The shareholders can be 2-10 people or a company/companies. It could be a combination of both as well.

    b)Free Zone Establishment

    The investors are allowed to register a Free Zone Entity with a single shareholder within the Free Zone. A single individual or a single company can be a shareholder of the entity in the DWTC Free Zone.

    c) Branch of Foreign Company

    The DWTCA allows the companies outside the UAE to establish a branch in the DWTC Free Zone. The foreign branch can conduct all or some of unique activities the parent company. The branch needs to be owned 100% by the parent entity.

    The Process of Setting up a Business in DWTC Free Zone

    The investors need to go through the types of legal structures and the various licenses issues by the DWTC Free Zone. The best company formation specialists in Dubai, UAE can guide the businessmen in selecting the right legal structure. The following steps need to be followed to form a company in the DWTC Free Zone:

    1. Select Trade Name
    2. Select a Legal Structure
    3. Submit Applications
    4. Receive Initial Approval From Free Zone Authority
    5. Submit Relevant Documents
    6. Obtain Lease& License
    7. Start Functioning

    Benefits of Forming a Company in DWTC

    1. Strategic location in Dubai’s Central Business District
    2. Grade A buildings to lease
    3. Access to award-winning developments
    4. Access to single-landlord properties
    5. Great transportation
    6. Easy access to world-class business events

    Documents Required to Establish A Company in DWTC Free Zone

    i) FZCO

    1. Company profile
    2. Copy of Emirates ID and residency visa of Shareholder(s), Director(s) and General Manager
    3. No Objection Letter from local sponsor for General Manager (if applicable)
    4. Memorandum and Articles of Association of FZCO
    5. Board or Shareholder Resolution to establish the FZCO under the DWTC Authority (If shareholder is a company or companies)
    6. Certified True Copy Certificate of Incorporation of Non-individual Shareholder OR Certificate of Registration ( If shareholder is a company or companies)

    ii) FZE

    1. Company profile
    2. Passport Copies of Shareholder, Director(s) and General Manager
    3. Copy of Emirates ID and residency visa of Shareholder, Director(s) and General Manager
    4. No Objection Letter from local sponsor for General Manager (if the GM is UAE resident with work visa)
    5. Specimen Signature of General Manager
    6. Memorandum and Articles of Association of FZE
    7. Board or Shareholder Resolution to establish the FZE under the DWTCA (for non-individual shareholders)
    8. Certified True Copy Certificate of Incorporation of Non-individual Shareholder OR Certificate of Registration
    9. Memorandum and Articles of Association of Non-individual Shareholder

    iii) For Foreign Branch

    1. Company Profile
    2. Passport Copies of Director(s) and General Manager
    3. Copy of Emirates ID and residency visa of Director(s) and General Manager
    4. No Objection Letter from local sponsor for General Manager (if applicable)
    5. Memorandum and Articles of Association of Parent company (attested)
    6. True copy Certificate of Incorporation or Association of the Parent company (attested)
    7. Board Resolution establishing a branch under the DWTC Authority, authorising a Power of Attorney holder and specifying his/her level of authority (attested)
    8. Specimen Signature of General Manager
    9. Copy of Audited Account(s) of Parent for preceding 2 years, Certificate of Good Standing or copy of valid Trade License of the Parent company

    Business Setup Consultants in Dubai World Trade Centre Free Zone (DWTC)

    The UAE offers a variety of company formation opportunities for the foreign investors: Mainland, Offshore and the Free Zones. The investors who choose the Free Zones eye the benefits like 100% ownership and the favourable tax regime. But nothing is as easy as it seems because the entrepreneurs have to choose from 40 free zones, each having its own features and restrictions on business activities. The investors require expert advice on costs, licenses and business activities, which only a leading business setup consultant could provide. Jitendra Business Consultants (JBC) is a reputed company formation specialist in Dubai, UAE with extensive experience in guiding investors in establishing their businesses in free zones. JBC’s highly qualified business setup consultants offer end-to-end solutions to entrepreneurs, big corporations and other investors for selecting the right jurisdiction and location to setup their businesses.

    Business setup consultants in dubai, UAE

    If you need additional assistance or have any questions, please contact the following:

    Email: [email protected]

    Tel: +971 4 343 8022

    Other Major Free Zones in Dubai

    Apart from the Dubai World Trade Centre (DWTC), there are other prominent free zones in Dubai. Check out the feature and facilities these free zones offer…

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