Dubai Flower Centre

A quick sneak peek on Dubai Flower Centre:

With the Exponential growth of trade pertaining to the perishables and flowers across the globe there is a substantial demand for logistics and commercial solutions which in turn reduces the transit and improves the quality. To accomplish these needs Dubai Flower Centre (DFC) has been deigned which is strategically placed at Dubai International Airport free zone and it is a huge hub for the floriculture industry in Dubai handling the imports and exports of flowers.

The first phase of Dubai Flower Centre got completed at a cost of $ 50 million in the year 2004 and two more phases for the construction are in progress. Dubai Flower Centre has at present has 19 tenants from 11 countries and is supposedly expected to serve 2 billion consumers once fully operational.

It also aims to meet floriculture transportation needs by providing: –

Particulars

Rapid consolidation and trans- shipment

Increased capacity and connection to and from major global trading points

World’s best cool chain management

Resources and facilities to enable cost effective value- addition

Facilitates and support to enable efficient commercial transactions

Q) What are the well-known companies that are sheltered in Dubai Flower Centre?

Alissar flowers
Shirin flowers
Ceylinco Foliage Export Ltd and many to pen down.

Q) What are the types of licenses offered to set up the business in Dubai Flower Centre?

Types of licenses offered to set up the business in Dubai Flower Centre

Trading License

Service License

Q) What are the various corporate entities in Dubai Flower Centre?

Business Type	Explanation
Free Zone Establishment (FZE)	It is a limited liability establishment incorporated in Dubai Flower Centre. It can be owned by one natural or juridical person with a distinct legal entity and an independent financial liability.
Free Zone Company (FZC)	It is a limited liability establishment incorporated in Dubai Flower Centre. It can be started by more than one shareholder with a distinct legal entity and an independent financial liability. Minimum two and maximum five shareholders are required in this FZ.
Branch of a Company	A company established outside the UAE can have its branch in Dubai Flower Centre.

Q) What are the activities allowed in Dubai Flower Centre?

Trading
Logistics
Retail

Q) What is the process to set up a company in Dubai Flower Centre?

Company Set up process	Documents required
Filing the application form	Dubai Flower Centre’s application form
Mou will be issued along with the provisional approval letter	A brochure of the company (if available)
Submitting the legal documents	The company’s annual financial report for the last three years (if available)
Final approval letter will be issued along with the lease agreement	Business plan
Payment of fees to be made
Trade license will be issued

Q) How to renew a license in Dubai Flower Centre?

For renewing the license

Cost of Renewal is less expensive than that of cost of incorporation.

Payment for renewal along with the signed lease agreement for the next year to be submitted.

No objection certificate to concerned authority if applicable.

Q) What is the process to liquidate a company in Dubai Flower Centre?

Process to Liquidate

Cancellation of the visas

Termination of lease agreement

Closure of the bank account

Clearance from Customs in case the entity had a trading activity in the license

Q) What are the competitive advantages to setup a business in Dubai Flower Centre?

Competitive advantages

Simple setting up process

No personal income tax and corporate tax

100% on foreign ownership.

100% profits and capital repatriation.

No currency restrictions

Dubai Flower Centre is connected with world outlets

Corporate tax applicability to the companies in Dubai Flower Centre:

Corporate tax law is going to be applicable for all the companies registered in UAE including the free zones in UAE. The UAE Corporate tax is going to be effective for the financial year beginning on or after 1 June 2023 for the businesses in UAE. Corporate tax will be levied at zero percent on the taxable income (adjusted net profit) of the businesses in the free zones as long as they comply with all the regulations of the respective free zone and do not do any business with the mainland companies, otherwise there is a possibility of levying 9% corporate tax on the taxable income (adjusted net profit) in excess of AED 375,000. Hence companies in the Free Zones need to make sure that they are complying with all the regulations of the free zone and do not do any business with the mainland entities to enjoy the benefit of zero percentage of UAE corporate tax.

{NOTE: Kindly note that the authenticity of this article is limited to the day of publishing this blog. As policies and rules pertaining to each free zone keeps changing from time to time based on the necessity of the respective authority, it is hereby advised you to check the website of the concerned free zone directly to get the latest update on the same. We do not assume any liability if you have taken any decision based on the information provided in the article. We have ensured that the presented information to the visitor is legible to the maximum extent possible so that all the information is available in one page, at one go. Thank you.}

Why Spectrum Auditing?

Spectrum Auditing is an expert firm in the Company Formation and Company Liquidation process. Our passion and heart lie in serving the clients and we aim at the utmost client’s satisfaction. We are registered Auditors under the Ministry of Economy UAE and also registered Tax Agent from Federal Tax Agency UAE, Dubai providing dedicated Audit, Accounting, Tax services and various Business Advisory Services complying regulatory requirements.

Reach us to have a frills free life in your journey in Dubai, UAE. We at Spectrum will assist you in taking care of all the legal procedures involved in the registration and de-registration of your company in Dubai Flower Centre. Call us today for any kind of assistance at +971 4 2699329 or email us at [email protected] to get all your queries addressed. Spectrum is your partner in your success.