FreeZone Company without having to cancel its Outstanding Registration

FreeZone Company without having to cancel its Outstanding Registration

The council approved a decision to facilitate the transfer of companies among the free zones in the emirate of Dubai, where the company that is looking to relocate can transfer its full record to the new free zone without having to cancel its outstanding registration and/or liquidating the business.
February 29, 2016
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Second Dubai Free Zone Council Meeting to discuss proposed amendments

On Monday 27th February 2016, Held at the Emirates Towers, the second meeting of Dubai Free Zone (DFZ) Council was led by H.H Shaikh Ahmad Bin Saeed Al Maktoum, the Chairman of DFZ. Future alterations to the draft statue and the financial assets of the council were the centre of many of the discussions had during the meeting. Topics also consulted on were the work advancement of the data committee, enabling licensed Dubai Healthcare City medical institutions to operate in Dubai free zones and the draft law on the regulation of land survey works in the emirate of Dubai.

Relocation FreeZone Company

In addition, the council affirmed their choice to encourage the transfer of companies among the free zones in Dubai. It will allow any company seeking to move to a whole new free zone, to transfer its complete record to the new location without having to cancel their registration in the old free zone and/or having to sell their business. This transfer will offer companies more proper environment when relocating with financial and administrative stability in Dubai. Shaikh Ahmad guided the legal committee to build up the structure and measures that will bolster this choice.

The Dubai Free Zone Council was built up in April a year ago after law No 13 of 2015 issued by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. He created the DFZ council to help enhance and assist free zones in Dubai to draw in more investments, building up cutting edge investment environment that adds to advancing all the sectors in Dubai (some of the sectors include industry, trade, tourism and services). The DFZ council is comprised of senior authorities of the different free zones in Dubai in addition to the Director General of State Security and Director General of Dubai Municipality the in Dubai.

 

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