Dubai Flower Centre (DFC) Free Zone – Business Setup
Dubai Flower Centre (DFC) Free Zone Company Setup
It is Dubai’s new center for the expansion of the floriculture industrial sector. It is situated next to Dubai International Airport and was built to address the requirements of the country’s emerging floriculture centre. The first step of the floral centre was completed in 2004 at an expense of $50 million. The development is not yet finished and will be carried out in 2 phases. The Dubai Flower Centre Free Zone currently has 19 tenants from 11 countries and is designed to support two billion customers once fully functional. Thus, in addition to increasing the nation’s income and providing jobs for local people, the Dubai Flower Center Free Zone allows people in other countries to participate in the industrial sector.
With the international trade of floral items and perishables expanding at a furious speed, there is a growing interest in new logistics and commercial alternatives to help business setups reduce transit times, improve the quality, and increase profits. As a result, the Dubai Flower Centre was established to meet all these needs and is committed to meeting all its objectives. The Flower Centre can handle up to 150,000 tons of flowers. The annual managing capacity is expected to be more than 300,000 metric tons. The fully autonomous and flourishing phase has a floorspace of 100,000 square meters and includes export workspaces and office buildings, as well as product breakdown and computerized sorting regions and build-up destinations.
Benefits of Setting up a Business in DFC
• Strategic location within Dubai International Airport
• Unprecedented opportunities in logistics and trans-shipping
• 100% repatriation of capital and profits
o DIFC-based companies face no restrictions or constraints on capital or profit flows, and there are no currency exchange controls in this US dollar-denominated jurisdiction.
• 100% import and export tax exemption
o DIFC offers a 50-year assurance of zero taxes on corporate income and profits, which is bolstered by the UAE's extensive network of double taxation treaties with much more than 50 countries.
• 100% foreign ownership
o Within DIFC, subsidiary companies and other inserted entities savour 100% foreign ownership, and an adaptable, world-class regulatory environment that enables a variety of options for constructing legal entities. It also provides a distinct alternative for a representative office license.
• World’s best cool chain management
• Rapid consolidation and trans-shipment
• Large temperature controlled operating area
• Computerized tracking system
• Handling diverse product ranges
• Tax exemption for imports and exports
• Facilitates and supports efficient commercial transactions
• High quality and standards maintained by the authority
• Easy access to European and Asian markets by flights that take less than 8 hours
Some of the services provided by Dubai Flower Centre Free Zone to Business setups:
• DFC is devised as a trans-shipment nerve center, with strategic partnerships daily. The procedures are established and designed to keeping in account rapid transit times.
• Cool chain that is the world's best management.
• Expedite and assistance to allow dynamic commercial transactions.
• Cost efficient value addition.
Business setup in Dubai Flower Centre (DFC)
Shops, restaurants, galleries, showrooms, beauty salons, and a variety of other services can be found in Dubai Design District. The Dubai Design District has also launched an initiative. D3's goal is to look at the individuals and companies that make up the creative culture. It has spoken with a variety of businesses and now takes the story to the public for us to see and understand.
• Documentation required for business setup in Dubai design district D3
• Company registration application
• Data on the shareholder(s)
• A business strategy
• Board resolution to this purpose in the original Memorandum of Association (MOA) and Articles of Association (AOA).
• Copy of the manager's and director's passports.
• Manager and director's signatures on a sample.
• Proof of share capital No-Objection Certificate (NOC) from the sponsor of the residency visa.
• A copy of the company's certificate of incorporation
Aside from the aforementioned benefits, DFC provides several amenities to business setups operating in their free zone, such as rapid consolidation and trans-shipment, world-renowned cool chain management, and facilities to satisfy efficient commercial transactions, in addition to a variety of free zone incentives. It is an excellent opportunity for an entrepreneur looking to start a business in this field.
Business Activities Allowed in DFC
All activities and operations related to perishable items like floriculture, horticulture, fruits & vegetables, etc. are allowed in DFC. The free zone also allows:
Types of Business Entities in DFC
1. Free zone Establishment
2. Free zone company
3. Branch of a foreign company
Types of Licenses Issued in DFC
There are two types of licenses issued in DFC:
• Trading License
• Service License
How to Set Up a Business in Dubai Flower Centre
• Filling & Reviewing the Application Form
Business setups wishing to establish a presence in DFC must submit an application form along with supporting documentation for evaluation by the officials. Once the application is accepted, the Dubai free zone officials will review the company's background, suggested commercial transactions, space needed, and so forth, and will issue a Preliminary Letter of Approval (or a letter implying that an application has been declined) within 30 days of receiving the application, except if additional details from the applicant is needed.
• Memorandum of Understanding (MoU)
Authorized applicants are sent a Provisional Approval Letter, as well as a Memorandum of Understanding (MOU) highlighting the fundamental terms and conditions of functioning in the Dubai Flower Centre Free Zone. This Memorandum of Understanding will serve as a preliminary agreement between both the Dubai Flower Centre and the applicant business setups. Within ten days of receiving the MOU, the applicants must fax back their acceptance.
• Submit the Legal Documents
Following receipt of the Provisional Letter of Approval, the applicant must submit the necessary legitimate files within 30 days to guarantee the reservation of office/warehouse space and registration of the suggested organization.
• Documentation Review and Final Approval
Following receipt of the documents, the applicant will receive a final approval letter in under two weeks, together with the lease contract and an invoice encompassing the Trade License Registration Fee and the first year's rentals. Within one week, applicants must fax the finished approval letter to the Dubai Flower Centre, advocating their acknowledgement.
• Lease Agreement and License Issuance
Applicants must designate an authorized signatory to approve the lease contract and retrieve the trade license. Reimbursement for the trade license fee and first year's rent should be received prior to or concurrently with the previously mentioned phase. This should happen within one month of the final approval letter being accepted. After you have completed all the preceding steps, you can begin your day-to-day business dealings.
Documents Required to Set Up a Business in DFC.
• Completed Dubai Flower Centre application form
• A brochure of the company (if available)
• The company’s annual financial report for the last three years (if available)
• Business plan