Dubai Cars and Automotive City (DUCAMZ) Free Zone
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Dubai Cars and Automotive City free zone was established in the year 2000, with an ingenuity to re-export high-end used cars in the UAE to the Asian and African markets. The free zone is also called DUCAMZ free zone.
DUCAMZ regulates under the headship of JAFZA (Jebel Ali Free Zone Authority). Moreover, business setup in Dubai Cars and Automotive City free zone offers entrepreneurs easy access to the airways and sea transport facilitates. This also makes it convenient for relocating cars and related commodities.
Company Formation in DUCAMZ
Company formation in Dubai Cars and Automotive City free zone also provides excellent networking – not only through transportation but also in terms of collaborating with other automobile enterprises.
Furthermore, the free zone has positioned itself as a commercial zone with the help of extensive marketing. As a result, it has been a major attraction for multinational companies as well as small and medium enterprises (SMEs) from the region as well as several international dealers.
Benefits of company setup in DUCAMZ free zone
The Dubai Cars and Automotive City free zone undoubtedly accelerated the growth of the automobile industry across the country. The region is influencing several automobile production companies to get into re-exporting, including buyers, sellers, traders and more.
Thus, if you are willing to create an enterprise in the automobile industry then DUCAMZ free zone is the right option for you. There are various benefits when forming a company in Dubai Cars and Automotive City free zone, including:
- 100% foreign ownership
- No personal, income, or corporate taxes
- Full repatriation of capital and profits
- Simple and quick set up process
- Business setup with multiple shareholders
- Bank account assistance
- No restrictions on the number of imported cars
- Hassle-free clearance from Dubai police and customs port
Facilities offered at DUCAMZ free zone
There are various facilities offered at DUCAMZ free zone. These include:
- Office spaces
Business activities permitted in DUCAMZ free zone
DUCAMZ authority enables companies to conduct various activities in the free zone. Some of these activities include:
In order to set up a business in the free zone, the company needs to acquire a trading license. The cost of license in DUCAMZ is approximately AED 14,000.
DUCAMZ free zone license renewal
The renewal process of businesses in DUCAMZ is a highly cost-effective and simple process. You will be required to submit an audit report starting from the second renewal of your company on an annual basis.
In addition you will need to complete the process of renewal for your company, you will need to pay the renewal fee and submit the signed lease agreement for your facility. An advantage is that your physical presence in the UAE isn’t required for renewal and can be completed through an agent.
Business liquidation in DUCAMZ
Similar to renewal, company liquidation also does not need the physical presence of the owner and can be accomplished through an agent. However, it is a requirement to pay a government fee to complete the liquidation process.
Company liquidation takes about 1 month to be completed and involves the following steps:
- Cancellation of visas
- Termination of lease agreement
- Closure of bank account
To find out more about various company formation options in Dubai Cars and Automotive City free zone, contact Shuraa – one of the best business setup companies in Dubai.
Shuraa helps solve your business-related queries and offers you solutions best suited to your company formation in the UAE. Contact us on +97144081900 or drop a WhatsApp message on +971507775554. You can also email your query to firstname.lastname@example.org.
Frequently asked questions about DUCAMZ free zone
Yes, you can renew your license remotely using a registered agent with just an authorization letter and renewal fees.
It takes less than a week to get your license to start your business in DUCAMZ free zone.
No, you have 100 % ownership and do not require to have a local partner to start your company.
It is not possible to transfer your company from one free zone to another. You can, however, set up a branch of your existing company in a different free zone.
However, if you want to have your company in a different free zone, you will be required to liquidate your company in the current free zone and then open your company in a different free zone.