Dubai World Central (DWC) – Dubai South Free Zone
What is DWC Free Zone?
Dubai World Central (DWC) is one of the most modern and fast-growing Free Zones in Dubai. The zone is strategically located near the Al Maktoum International Airport (the newest airport in Dubai). The place will also be the location for EXPO 2020 and will be the future central hub for companies venturing into different businesses. The area of the zone, including residential area, logistics part, golf club etc has been recently branded as Dubai South – representing a city within city. Among other Free Zones in Dubai, DWC may be considered one of the most economical and practical options in terms of costs and flexibility on requirements.
Outstanding points on setting-up a DWC Free Zone company
- The authority does not currently enforce the paying up of the share capital. Generally, the minimum share capital required is AED 300,000.00. It is nonetheless recommended that the funds be deposited in the company’s bank account within 3 months of company formation.
- Submission of audited financial statements is required annually.
- As with other free zones, DWC requires its companies to rent an office space. However, DWC offers low cost solutions: Smart Desk and Smart Office facilities at the starting rates of AED 16,900.00 to AED 26,900.00, respectively, which would allow 2–3 visa applications. These facilities are subject to availability.
- The General Manager of the Company must obtain a UAE residence visa prior to the Company’s license renewal. The General Manager can also be a shareholder.
- Valid Passport, utility bill and CV copies of the individual shareholders, directors, manager and secretary are required
- Corporate Documents that are Notarised, Legalised and Attested in the country of origin are required if there is a corporate shareholder
- A detailed Business Plan is required
- Completed DWC Application Forms are required
For more details on the company formation procedure, please see - https://www.propartnergroup.com/free-zone-formation/free-zone-procedures. As it is imperative to first seek professional advice and guidance if you are considering establishing a company in DWC Free Zone, appointing a company formation specialist such as PRO Partner Group will remove the complexity of setting up your business, ensuring that the process is handled correctly to save time and resources.
Patricia Tan is the Client Relationship Executive – Free Zone specialist at PRO Partner Group. For further information about setting up a business in the UAE please contact Patricia on email@example.com or call a member of the team on: +971 (0)4 456 1761 (Dubai) +971 (0)2 448 5120 (Abu Dhabi) www.propartnergroup.com
Dubai South: www.dubaisouth.ae
https://t.co/s0NKUMY3W9 What is #DWC ?Dubai World Central is the most modern fast-growing #FreeZones. Located near the airport. It will also be the location for #EXPO2020 and the central hub for companies venturing into different businesses. #businessSetup #DubaiSouth— PRO Partner Group (@PROPartnerGroup) January 7, 2018