Company formation in Jumeirah Lake Towers (JLT) Dubai:
This free zone was established in 2002, and nowadays thousands of companies from various countries have chosen the option of the JLT company formation. The JLT is well known for the place where the JLT Free Zone – DMCC – is located. Over the years, this particular zone has attracted a lot of attention from investors, particularly from those who want to get their businesses going in the commodities sector. Apart from commodities, the free trade zone has also become a favourite free trade zone for companies in the sectors of finance, insurance and logistics.
The JLT free zone offers the commercial, residential and retail property for sale and leases with an attractive infrastructure surrounded by several free zones making an attractive deal for foreign investors.
Company formation in the JLT offers investors and entrepreneurs developed infrastructure and creates conditions for efficiency, productivity and adaptability.
If you are seeking to set up a company in UAE, in particular Dubai, then one of the best areas to do so is Jumeirah Lake Towers also known as JLT. It comprised clusters of buildings starting from A – Y. They comprise of both residential and commercial buildings making it a great place to run your business not to mention a nice location to live with numerous recreational areas such as parks, lake, pavements to walk by, outdoor gyms as well as convenience stores and close proximity to Dubai metro that connects the whole city.
JLT Free Zone has one important advantage over the other free trade zones in the emirate. JLT company registration is the solution which gives the possibility to form a company in Dubai which enables commodities market access, real estate, multilateral companies, start ups etc. The work of JLT Free Zone is regulated by the Dubai Multi Commodities Centre Authority (JLT – DMCC).
However, setting up a business in the free trade zones of the UAE is not so simple, especially for outsiders. UAE’s free trade zones have their own rules and regulations, which investors and their businesses must adhere to.
Company Structures at Jumeirah Lake Towers (JLT) Dubai:
- Free Zone Limited Liability Company (FZ-LLC)
- Branch of an existing company
- Branch of a Foreign Company
Types of Licenses Available for Jumeirah Lake Towers (JLT) Dubai Company Registration:
- General Trading Licence: Allows importing, exporting, distributing, consolidating, and storing of almost all product types allowing new business opportunities for entrepreneurs and businesses.
- Industrial Licence : Allows the implementation of light production activities specified in the license.
- Service Licence: Allows carrying out service or consultancy activities which are specified in the license.
- Commodities Trading Licence: Allows trading of the permitted goods which are mentioned in the license.
Activities Permitted in Jumeirah Lake Towers (JLT) Dubai Registration:
- Diamond and Gold Trading
- Precious Gems and Metals
- Steel Industries
- Oil Dealing
- Registration and licensing activities
- Healthcare Facility
- Education Department
- cafes, boutique, fitness, etc.
Facilities offered at Jumeirah Lake Towers (JLT) Dubai:
- Virtual and Flexi Desks
- Serviced Desk
- Commercial and Residential Towers
Advantages of Company Set up in Facilities offered at Jumeirah Lake Towers (JLT) Dubai:
- 100% business ownership.
- Licences for a complete range of business activities
- No foreign exchange controls or barriers to entry
- Unique Worldwide Centre Industry Clustering
- Prime strategic business location of global significance
- Numerous Networking opportunities
- Efficient Licencing & Registration procedure
- Advantageous freight rates
- Rapidly-growing all-inclusive free zone in the UAE and GCC
- No personal, income or corporate tax
- Full repatriation of capital and profits
- Immigration services, including visas and other government permits
- Appealing and modern Infrastructure
- Accessible transportation and location
Documents Required to Register Company in Jumeirah Lake Towers (JLT) Dubai:
- Online pre-approval application form
- Proof of residential address in country of residence (Say, a utility bill or bank statement)
- Business profile
- Business plan (depends on activities)
- Third-party approvals for specific regulated business activities
- Details of an office address in DMCC free zone (JLT)
- Required if setting up a subsidiary
- Copy of your passport, Residence Visa and Emirates ID if applicable
- Copies of parent company documents if it’s a branch company formation.
- Power of Attorney for Manager, Secretary, Director, Specimen Signature
- NOC from the current sponsor if you already have a residence visa
Steps to be followed on registering the company in Jumeirah Lake Towers (JLT) Dubai:
- Identify the legal form of company
- Decide on business activity from DMCC activity list
- Get an initial approval from the authority
- Submit documents and pay fees
- Choose the most suitable office solution
- Apply for the UAE Residence Visa
- Open a Corporate Bank Account
Cost of setting up a company in Jumeirah Lake Towers (JLT) Dubai:
The cost of the licence for business set up in Jumeriah Lake Towers would start from approximate AED 25,000 however, it may depend on other requirement such as your location, business activities, company size and other operational costs.
To make it easier, once you have your business plan ready in your hand, you can always take help from the expert business setup consultants in Dubai UAE, who will help you with every step of the process, from choosing a business activity and company name to registering with the relevant authorities, easily opening corporate bank accounts and processing visa applications.
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