Jumeirah Lakes Towers (JLTFZ) is a 200-hectare, mixed-use waterfront development which offers commercial, residential and retail property for sale and lease. The Freezone was established in 2002 and now has over 3,800 registered members including both commodities and other businesses.
Why set up in this Freezone?
With its streamlined processes, dependable customer support, industry clustering, modern infrastructure, prime location and freehold commercial and residential property, JLTFZ has a variety of attractions.
Advantages of setting up in this Freezone
Being situated in Dubai and serviced by two metro stations the JLT Freezone, located on Sheikh Zayed Road, is easy to reach and transport from. It is connected to both Dubai and Abu Dubai, and in is also in close proximity to Jebel Ali Free Zone and ports and the Al Maktoum International Airport. The Freezone comprises of modern infrastructure, free-hold property, trade networking platforms as well as industry including secure vaults and purpose-built storage facilities, which are all great in addition to 100% foreign ownership of the company itself and optional visa facilities. Also, you will not face any customs duty and there is 0% income and corporation tax.
How to set up in this Freezone
The Dubai Multi Commodoties Centre (DMCC) licenses companies from a wide range of business sectors at the JLT Free Zone
What is the timeframe?
The JLTFZ offers a streamlined and efficient registration and licensing process which ensures that most licenses are issued within two weeks of submission of the completed application, which includes documentation such as passport copies, bank reference letters and CVs.
What else can you expect from this Freezone?
This Freezone boasts a separate department for commercial sales, which will assist with the process of securing land once the company incorporation is complete. They also maintain client relationship management tools, which provide a fast and efficient service for documentation.
Dubai
The basic requirement for all business activity in Dubai is to receive and maintain a license under one of the following categories: commercial, professional or industrial. These licenses are all issued by the Dubai Economic Department. However, licenses for some categories of business require approval from certain ministries and other authorities too.
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Commercial leasing and breach of contract punishments
In legal terms, a lease agreement can be defined as ‘a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment’. A ‘commercial lease agreement’ constitutes a written lease agreement whereby a landlord agrees to lease his commercial property to another person or entity for a given business purpose and specified time period.
