Jumeirah Lakes Towers free zone shortly JLT free zone; was establish in 2002 by Royal Decree. It is a fast growing free zone in the UAE. JLT free zone is a 200 hectare, mix use beach front master development; that is, it helps both business as well as public live there. JLT free zone also offers residential, commercial; as well as retail property for sale; as well as for lease. IT is in the heart of new Dubai and service by two metro stations within the community. The JLT free zone is located on Sheikh Zayed Road, the main trunk connecting Dubai and Abu Dhabi; as well as very close to Jebel Ali Free Zone and ports, Dubai Logistics Corridor and Al Maktoum Airport.
Authority for JLT Free Zone Company set up
In the first place DMCC is the master designer as well as licensing authority; that is, for the JLT Free Zone company set up. JLT free zone is the fast rising free zone authority in Dubai.
Today there are over 7,000 businesses registered at the JLT Free Zone. It helps businesses from shipping to recruitment; as well as IT service to advertising and much more. As a matter of fact JLT free zone 85% of business set up is a new business; that is coming to Dubai. So, these companies are including multi nationals, a local industry; as well as a small and medium size company and entrepreneurs as well. So, business are working at the JLT Free zone enjoy a supreme location on the edge of Sheikh Zayed Road.
Why JLT freezone company setup
JLT freezone company set up offer a lot of benefits; that is reliable customer support; Stream line set up process; a unique services as well as industry clustering; a free hold commercial and residential property; along with modern infrastructure; also a prime location are some of the reasons; which answer to a question; why JLT freezone is the first choice for expat; that is, to locate their business in JLT Dubai free zone.
Why JLT freezone company formation
Why JLT freezone? JLT free trade zone is more than a development or a free trade zone; that is it is also a blooming community of over 25,000 residents; and also over 10,000 people working in this free trade zone.
Why work in JLT free trade zone? Because the authority of JLT free trade zone have outstanding free zone services; to offer to any company; that is from single person to large multi nationals. And because JLT free trade zone is on a prime location with all the facilities companies need; in fact it is in the center of New Dubai with great transport links to roads and airports.
Why live in JLT free trade zone? Because JLT Free zone situated between two metro stations; just 45 minutes from Abu Dhabi and a 5 minute drive from the beach and marina. JLT free trade zone is a prime location; so for those who is looking for a new experience in Dubai; with a host of retail outlets from restaurants to coffee shops; leisure facilities as well as super markets; as well as hotels, and also there are the lakes for cycling; there are walking tracks for strolling with friends and family.
Why play in JLT free trade zone? JLT free trade zone not only offer a wide range of restaurants; coffee shops, hotels, leisure; and also beauty salon and many shopping options. But also for children; JLT free trade zone have several play grounds; as well as more organize child care center; which also provide several nurses and other educational service providers.
Type Of Company in JLT Free Zone
Within the JLT Free Zone, companies can set up as a:
- New Company (FZ LLC with Individual or Multiple Shareholders)
- Branch (of a local or foreign company)
- Subsidiary (of a local or foreign company)
- Representative Office
The share capital for new company is 50,000 Dhs per share holder. But for companies with multiple share holders the share capital required; can be determine by calculating the number of shareholders multiplies by 50,000. Branches are free from the requirement of share capital. But some activities require a large amount of share capital; also note that all of the above are for reference only.
The JLT Free Zone offers three types of business licenses
- DMCC License (Activities in the Commodities Sector)
- JLT License (All other Non-Commodities Business Activities)
- Industrial License (Restricted to Light Manufacturing Activities)
Licenses whose activities fall under different categories should apply for separate licenses for each category of activity.
Company formation in jlt free zone
As we mention the Licensing Authority is DMCC free zone; that is for company formation in JLT Free Zone. DMCC free trade zone offers all in one business solutions; for those who is looking to set up and run a company in JLT Dubai free zone. DMCC free trade zone is a reliable and also a strong platform; that is enabling companies to start and bloom within the JLT community.
From multinational organizations and major regional industry; to small and medium size enterprises (SME) and startup companies; today, the JLT free zone has over 7,000 businesses enjoying its facilities and services.
Benefits of setting up a company in the JLT Free Zone include:
- Zero personal and corporate tax rate
- At this point let me tell you one more benefit; that why client is very keen for JLT free zone. Or you can say one more strong point which you need to keep in mind. And I think it is the most key point for JLT free trade zone. That is 100% foreign business ownership
- 100% capital repatriation and no currency restrictions
- Unique industry clustering and purpose-built infrastructure
- One or more share holders
- Secure, regulated environment, licensing a full range of business activities
- At this point let me tell you one more benefit; that why client is very keen for JLT free zone. Or you can say one more strong point which you need to keep in mind. And I think it is the most key point for JLT free trade zone. That is Quality free hold, commercial and residential property for sale or lease at competitive rates
- Strategic location on Sheikh Zayed Road, connecting Abu Dhabi and Dubai, and in close proximity to Dubai Logistics Corridor
- Wide variety of quality commercial, retail, residential and industrial space offered
Shams Consultant services for JLT freezone company formation
- we provide services for Company formation in JLT free zone.
- Also Company Liquidation services for Company formation in JLT free zone.
- Share Transfer from one share holder to another.
- License cancellation, Amendments as well as License renewal
- Conversion of branch of a foreign company in to an FZ- LLC
- Company legal documentations / Amendments of a documents
- Merge of companies in JLT freezone.
At this point let me tell you one more thing; or you can say one more key point; which JLT free zone clients always ask me. That is, is it true that JLT business setup in free trade zone is free from all kind of tax? And as we all know the answer is a big “Yes”. So, it means that JLT free trade zone is free from all kind of tax. And also it is free from duty tax. I think it is one of the best points for business setup JLT free trade zone.
Documents Required for JLT free zone company setup
Please note that we would require the following documents; that is to process your company formation in JLT freezone.
- Business plan for your Company set up in JLT freezone.
- 3 Propose trade name
- Passport copy for all share holder; as well as Directors and also Managers
- Specimen Signature for all share holders; as well as Directors and also Managers
- Memorandum of Association (signed)
- Shareholder(s) Resolution
- Original letter from the bank confirming the deposit of the share capital
- Proof of physical address for all share holders; as well as Directors and also Managers; that is a copy of Utility Bill or similar.
- Tenancy Contract (commercial property within JLT Free Zone) OR DMCC Virtual, Serviced or Flexi Desk office contract ( Subject to approval )