To increase competitiveness in UAE, the Dubai Airport Freezone Authority (DAFZA) has decided to slash up to 65% of costs on all business setup services. This is also an initiative to develop new companies and set up growing businesses in the country. Through this decision, many companies may consider expanding their business overseas. With this cost reduction, people will be tempted to open a new branch in Dubai. This may lead to foreign investors taking an interest in capitalising additional money into this freezone.
Dr. Mohammad Al Zarooni, the Director General of DAFZA believes that this initiative could be a good opportunity to ensure that there is a steady, sustainable growth across all sectors which will help in strengthening Dubai’s reputation in accordance to international standards.
In terms of slashing prices, DAFZA is reducing company registration expenses, staff visa costs, and licensing by 65%, 20%, and 33% respectively. Furthermore, DAFZA has taken this opportunity to structure a proper limited liability system that will help in allowing numerous flexibility operations.