The Dubai South Free Zone was founded in 2006 (previously, Dubai World Central), is a strategic business hub established by the Government of Dubai. Today, the Dubai South Free Zone is the largest and leading global business, trade and aviation hub. The Dubai World Central (DWC) was renamed to Dubai South to reflect the strategic location of the free zone.
The Dubai World Central (DWC), now Dubai South, is spread across a multipurpose area of 140 km2, right next to the Jebel Ali Sea Port. It is located in front of Expo 2020 pavilions. It expects huge flow of people for business and leisure purposes.
The Dubai South Free Zone headquarters is closely situated to the Al Maktoum International Airport, Business Park, Logistics District, Exhibition District, Aviation District, Residential District, Commercial District, Golf District and Humanitarian District. The Dubai South Free Zone international airport can provide convenient logistics and shipment around the Middle East, GCC and the entire world.
The Dubai South Free Zone stands as the strategic platform in the UAE for growth of logistics, light, aviation and ancillary service industries. The Dubai South Free Zone logo serves as a reminder of the vision of the Government of Dubai in making the Dubai South Free Zone residential city a hub of commerce!
Advantages of Business Set Up In DWC Free Zone
DWC offers a very wide range of business activities falling under 5 types of licenses: Services, Trading, Logistics, Industrial and Education. A DWC Company can have up to 3 business activities from the same category in one license and allows to carry out services in the UAE and sell products in the UAE market through a local agent.
Some business activities for Dubai South business setup might require an attested degree or experience in similar field.
It is not permitted to combine non-related activities or commercial and service (consulting) activities under the same license.
If you cannot find your business activity in Dubai South free zone, you should take into consideration DMCC company formation. It offers almost all of the activities used by the Department of
Economic Development but in a free zone area.
Contact DWC for a free consultation and discussion with one of the experts who will advise you on the license, business activities and any other requirements for your DWC Company formation.
At this stage we as a consultancy firm will submit to the DWC authorities a company application, three proposed company names, personal information and passport copies for the shareholder and manager of the company. The approval of the application is expected to take 7 to 10 days. The presence of the client is not necessary during the registration process, however, signed documents should be sent in the original form.
After the approval of the application the DWC authorities will issue the contract for the Smart Desk office which is required to be signed by the shareholder or manager of the company. The original signed contract should be sent to us to be submitted to the DWC authorities.
After the submission of the Smart Desk contract, the DWC authorities will issue the certificate of incorporation, MOA, share certificate and company license.
The establishment card will be issued 7 to 10 days after the company registration. The establishment card will allow the company to apply for the eligible residence visa's for the shareholder, manager and employees of the company.
After the registration and licensing, the company will apply for the opening of a corporate bank account. The presence of the shareholder or bank signatory in Dubai is necessary for at least one day to sign the bank forms.
Only Audit firms holding a valid Audit trade license in UAE and that are registered with the DWC free zone authority can perform External Audit of entities operating within the Dubai South free zone. The DWC free zone maintains a list of DWC Approved Auditors which contains names of DWC audit firms that are authorized to perform External Audit of financial statements of companies operating within the DWC free zone. All DWC Approved Audit Firms are licensed financial service providers in UAE. The DWC free zone authority has its own processes and procedures in place for giving approval to an audit firm to provide External Audit services within the Dubai South free zone.
The rules and regulations applicable DWC free zone provides auditors with the right to require any document, record and information considered necessary for Audit purposes.
In order to continue providing External Audit services in the free zones and the UAE, the audit firms are required to provide evidence of their employees participating in continuous educational and training programs with regards to maintaining and updating their technical knowledge in accordance with the changing accounting and auditing standards.
External audits of enterprises operating inside the Dubai South free zone can only be performed by audit firms that have a valid audit license in the UAE and are registered with the DWC free zone authority. The DWC free zone maintains a list of DWC Approved Auditors, which includes the names of DWC audit firms that are permitted to conduct external audits of financial statements of DWC free zone companies. All DWC Approved Audit Firms are licensed financial service providers in UAE. The DWC free zone authority has its own processes and procedures in place for giving approval to an audit firm to provide External Audit services within the Dubai South free zone.
Excellence is a registered auditor in Dubai World Central, offering experienced assistance in auditing, accounting, business establishment, legal advice, and tax counseling.
Our skilled team of professionals provides high-quality auditing services in DWC to a variety of corporate sectors and industries. We value your business and offer auditing services that will help you flourish.
Auditors in Dubai World Central shall submit their companies' financial reporting in one calendar year, according to free zone legislation. In the first financial year, the company may choose a different reporting period that begins on the date of incorporation and ends no more than eighteen months later.
Make sure that the audit business you hire provides registered auditing services in Dubai World Central before you hire them.
The benefits that Dubai South Free Zone offers to new business setups are,
100% foreign ownership
No personal or corporate tax
100% capital and profit repatriation
No import export duty
Conditions for commercial lease are flexible
Availability of broad range of business activities
Easy setup procedure (minimum documentation requirements) for new business
No currency restrictions
State of the art infrastructure and facilities
Flexi desk offices are available who do not require or have limited budget for office space
Fewer restrictions on foreign investors in terms of visas and dependent’s sponsorship