Company Incorporation in DAFZA Archives - GBS Global Business Services Wed, 14 Feb 2024 11:17:50 +0000 en-US hourly 1 https://www.gbsei.com/wp-content/uploads/2020/01/favicon.png Company Incorporation in DAFZA Archives - GBS 32 32 Dual License In DAFZA https://www.gbsei.com/dual-license-in-dafza/ https://www.gbsei.com/dual-license-in-dafza/#respond Fri, 01 May 2020 10:02:09 +0000 http://www.gbsei.com/?p=4555 The Dubai Airport Free Zone (DAFZA) has recently signed a Memorandum of Understanding (MoU) with the Department of Economic Development (DED) to permit DAFZA hosted companies to acquire dual licenses to operate across Dubai (Mainland). This move is likely to attract even more National and Local Foreign Direct Investment (FDI). Under the terms of the...

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]]> The Dubai Airport Free Zone (DAFZA) has recently signed a Memorandum of Understanding (MoU) with the Department of Economic Development (DED) to permit DAFZA hosted companies to acquire dual licenses to operate across Dubai (Mainland). This move is likely to attract even more National and Local Foreign Direct Investment (FDI). Under the terms of the agreement, both parties shall coordinate to enhance the degree of transparency, governance, and functioning of businesses operating in DAFZA.

Only DAFZA – FZCO entity can apply for Dual License. Having a DAFZA license, DAFZA will issue an NOC letter to apply at DED. The company should follow DED guidelines in opening a company in the Mainland. A local sponsor is required for a DED license. As per the agreement, DED may modify or add any activity related to the licenses of companies subject to the approval of DAFZA. The investor can use one lease for DAFZA license and DED license.

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