Business Setup in Dubai Cars & Automotive Zone (DUCAMS)
Dubai Cars & Automotive Zone (DUCAMZ)
Established in 2000 and located in Ras Al Khor, Dubai, DUCAMZ has a total size of 8 million sq.ft. and has been created with the objective of re-exporting used cars to Asian & African markets, under JAFZA Authority. DUCAMZ offers the comprehensive infrastructure to meet the high demands in the automotive industry, providing competent highway connectivity, easy access to airway and sea modes of transportation and boasting all mod cons necessary to relocate cars within and outside the region. DUCAMZ displays an array of renowned brands such as Al Tayer Motors, Luxury Motors Limited, Heewad Motors, Al Habib Motors, Al Meezan Motors, and other related enterprises.
Business benefits of setting up a company within DUCAMZ:
- 100% foreign ownership;
- Attractive working environment;
- Access to a market of over 2 billion people;
- Modern efficient communications;
- No currency restriction;
- Competitive freight charges;
- No corporate taxes for 50 years – a concession that is renewable;
- No restrictions on maximum import of automobiles;
- Hassle-free clearance from Police (traffic department), Customs, Port and Bank;
- Excellent support services from Dubai Ports Authority & Other service institutions such as Shipping, Insurance, Banking, Automobile Workshops & Restaurants;
- No import/export duties;
- Transfer of ownership within the zone.
Types of company formation within DUCAMZ:
- Free Zone Company (FZCO):
- The company can have multi-shareholders companies;
- Minimum 2 shareholders, maximum 5;
- No local partner required;
- Minimum capital requirement 100,000 AED.