Dubai Cars & Automotive City Free Zone (DUCAMZ)
Dubai Cars & Automotive Zone (DUCAMZ) was established in April 2000, with the aim of re-exporting used cars to Asian and African markets. JAFZA is in charge of the supervision of DUCAMZ. Its responsibilities include providing companies with all required assistance, including: licensing, administration, customs and clearing services, etc., if they wish to operate within the Free Zone. Procedural issues have been kept simple.
It is located within Dubai and has easy access to all airports and seaports in the region
The vehicles sold by companies in Dubai Cars and Automotive Zone are categorized into two types:
- Left-hand drive vehicles to be exported to local markets and subject to UAE regulations
- , Right-hand drive vehicles mainly intended for African countries.
Company registration in Dubai Cars & Automotive City Zone
The most frequently registered company form in the Dubai Cars and Automotive City Zone is the Free Zone Company. The minimum capital required to establish a free zone company in the DUCAMZ is AED 100,000 or USD 30,000. The company must have a minimum of two shareholders and a maximum of five. Foreign investors can also benefit from various advantages when they open a free zone company in DUCAMZ, including
- Skilled workforce
- No currency limitations
- favorable freight costs
- No personal income and no
- corporate tax for 50 years
- 100% foreign ownership
- 100% return of profits
- No limit on the number of cars imported.
Trading Licenses in the Dubai Cars and Automotive Zone
Activities allowed companies operating in the Dubai Cars and Automotive City free trade zone are limited to the trade and sale of vehicles. Other activities such as insurance, banking, repair and maintenance of vehicles are also allowed. To operate within DUCAMZ, a company must apply for a trading license, which must be issued within four or five working days and renewed annually.