Dubai Airport Freezone Authority make attractive location for business
Dubai Airport Freezone Authority (DAFZA) has reduced business setup cost by up to 65%, as part of its aim to increase DAFZA's regional competitiveness and activate a number of key sectors by attracting foreign direct investment (FDI).
Supporting Dubai's efforts to become an ideal destination for investment and prosperity, the decision will help achieve further stability for the operational processes of free zone companies and consequently sustain and drive investment growth.
H.E. 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 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."
H.E. Al Zarooni added: "These incentives were agreed upon following comprehensive studies and polls evaluating the free zone's initiatives, services, and business environment.
“This has allowed us to ensure flexibility at DAFZA in meeting the requirements of new foreign investors and current customers.
“We are offering unique services that take into account the global economic climate and allow customers to increase earnings and operational profits as well as achieve business growth and prosperity.
“The ultimate goal is to drive local economic development and support the sustainability of direct FDI, accelerating and increasing its contribution to Dubai's GDP."
DAFZA has revisited and reduced registration, license, and staff visa fees for new investors by 65%, 33%, and 20%, respectively.
Establishment card issuance fees have been cut by 17%, while fees for Board Resolution and MOA issuance have been waived.
DAFZA has also declared that more initiatives and incentives are in the pipeline, including facilitating the issuance of No Objection Certificates, in order to facilitate investment processes and provide an optimum business environment that will continue to attract FDI.
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