DAFZA slashes business set-up cost by up to 65%

Dubai Airport Freezone Authority (DAFZA) has reduced business set-up cost by up to 65 per cent, as part of its aim to increase DAFZA’s regional competitiveness and activate a number of key sectors by attracting foreign direct investment (FDI).

Dr. Mohammed Al Zarooni, director general, DAFZA, said: “This new approach falls in line with the directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to boost Dubai’s economic competitiveness. This is being done through a number of initiatives and incentives that aim to attract and promote FDI into the Emirate, ensuring sustainable growth across all economic sectors and strengthening Dubai’s status on the world economic stage.”

DAFZA has revisited and reduced registration, licence, and staff visa fees for new investors by 65 per cent, 33 per cent, and 20 per cent, respectively. Establishment card issuance fees have been cut by 17 per cent, while fees for Board Resolution and MOA issuance have been waived.

The new incentives include facilitating the process of obtaining general trading licenses for new investors by halving the capital requirement from Dh1 million to Dh500,000. DAFZA has also allowed its member companies to be structured as a Limited Liability Free Zone Company (FZ-LLC),