Business Setup Consultants in JLT

It is the process of registering a business in the Jumeirah Lakes Towers district, which falls under the region’s largest free zone authority, Dubai Multi Commodities Centre (DMCC). In order to set up a business physically in JLT, businessmen have to obtain a DMCC trade license.

Beware of the following red flags while hiring a consultancy:

• Suspect extremely low packages with vague information about services. 
• Avoid any consultancy promising 'guaranteed' bank account or visa approval as approvals are subject to banks and immigration authorities.
• Do not fall for aggressive upfront payment demands before the legal process is fully explained to you.
• Do not enter into an agreement without a scope of work and a written contract.

Once you have completed the paperwork, you can usually expect to receive the license within 3-10 days. However, Emirates ID, visas and bank account details can take 3-5 weeks to process.

DMCC may request the following documents prior to issuing the trade license:

• For Individual Shareholders & Directors: A passport copy that's valid for at least 6 months, a recent utility bill or bank statement as proof of address, and copies of your Emirates ID and UAE visa (if already residing in the country).
• For Corporate Shareholders: If another company owns the new entity, you must submit its Certificate of Incorporation, Memorandum and Articles of Association (MOA/AOA), and a signed Board Resolution authorising the setup. Get all the Foreign documents attested by the UAE Embassy and MOFA.
• For Company Registration: Also, submit your proposed trade names, an outline of business activities, a valid JLT office lease or flexi-desk agreement, and a bank reference letter.

DMCC requires a physical office or approved workspace in the zone, but a flexi-desk satisfies this requirement for many companies. 

• Flexi-desks typically accommodate up to 3 to 5 visas. 
• Private offices have a quota based on floor area, broadly one visa for every 9 square metres. 

The general advice is to choose the smallest workspace option that will accommodate your initial visa plans and upgrade later if needed.

Though JLT is a free zone, it doesn’t mean that any company in this region is free from corporate taxes. A zero per cent corporate tax is payable by an entity established under JLT on qualifying income under QFZP guidelines. Income that does not meet the qualifying criteria shall be taxed at 0% on taxable income up to AED 375000 and 9% on the income exceeding this amount.