- November 30, 2021
- Posted by: Vimal Hemachandran
- Category: Blog
The United Arab Emirates is one of the world’s most socially and technologically progressive countries, with a federal government in charge of the economy. It is also home to some of the world’s largest free trade zones. It’s no surprise that so many global corporations are gaining a foothold in the country, given the friendly business environment.
When we picture about Dubai, the prima facie that springs immediately to mind is the living style and the rapidly expanding automotive sector. The latest and updated models of various automobiles are first seen in the Emirate of Dubai, and then spread around the rest of the world.
As Dubai offers the lowest fuel rates and is a tax-free city, the Dubai Car and Automotive City Free Zone (DUCAMZ) is trending to be a popular destination for car enthusiasts. DUCAMZ’s major goal is to sell automobiles in the local market and then re-export them to MENA regions. There are two sorts of automobiles sold at DUCAMZ:
Cars with left-hand drive will be marketed in the local market.
Right-hand-drive vehicles will mostly be supplied in the MENA regions.
The only activities authorised within the zone are automobile trade, repair, insurance and banking. DUCAMZ is maintained by the Jebel Ali Free Zone Authority. It is conveniently located within Dubai and has easy access to all airports and seaports, with 100 percent ownership, no income or corporate tax, and no import duty in the area, as well as no restrictions on employing foreign workers and currency. Entrepreneurs will benefit from the infrastructure, which includes not just a sophisticated road network but also great aviation links.
Dubai is a great place to start a business. DUCAMZ provides an established market and a dynamic transportation network that aids in the channelization of the vehicle sector. The existence of global and national enterprises gives a new business establishment in a comparable industry an advantage. In the Free Zone, the investor has access to extra services. Workshops, showrooms, warehouses, and office spaces are among them. DUCAMZ’s strategy is to encourage international investment in the sector of vehicle manufacturing and alteration, as well as to attract buyers, dealers, and sellers.
In today’s world, the concept of doing business is evolving on a regular basis. Technology, as well as innovative ideas, is all making inroads into the corporate world. Dubai is one of the most important destinations for tracking the tides of commercial advances. The current generation follows the trends in order to stay relevant in the workplace.
Every day, the automobile industry expands at a breakneck speed, and it will continue to do so in the upcoming years. With Expo2020 already kicked off, DUCAMZ will draw even more entrepreneurs in the future, making this the best moment to start a business in the DUCAMZ. If you’re looking to set up a business in the automotive industry, AON consultants recommend that you travel to DUCAMZ.
AON Management Consultants assures that the procedure of establishing a company in the free zone is simple and straightforward for international investors. Our team will assist you through the procedure with professional competence and guarantee that it is done in the most efficient manner possible.