You can definitely consider setting up a textile manufacturing business in Dubai. You will require considerable support and assistance in this regard. You can consider reaching out to GCC Filings which offers one-stop solutions ranging from company incorporation and VAT registration to filing VAT returns, auditing, accounting and a lot more.
Where to Start Textile Manufacturing Business in Dubai
Dubai Textile City stands as a glittering hallmark of the success of the textile industry in the Emirate. This is a joint venture between the Dubai Port & Customs Authority and also TEXMAS. This is one of the free zones for this industry and enables business owners to carry on their operations without paying customs duties which are usually charged at 5%. Business activities permitted here include Fashion, Textile and Trading.
Some of the core advantages include customs duty exemptions, free goods transfers, flexibility for premise sub-leases and of course, considerable lease periods with affordable rentals.
Documents needed for Establishing Textile Manufacturing Entities in Dubai
Here are the documents that you need for starting your business in textile manufacturing in Dubai:
- Shareholder/Owner visa copies and passport
- Proof of trade name reservation
- Personal identity card for every shareholder
- Notarized AOA and MOA
- Proof of initial approval of business information
- Paid-up capital
- Lease agreement mentioning physical office address
Steps for Starting Textile Manufacturing Business in Dubai
These are the steps required company incorporation to start the textile manufacturing business:
- Choose the right location and make sure that it is appropriate for the market that you are targeting in the UAE.
- Choose your business structure, i.e. Free Zone Limited Liability Company or FZ-LLC and even FZCO (Free Zone Company). You can also choose to be a branch of an UAE or foreign company.
- Provide required documents to the authority for finishing the verification procedure.
- Get necessary permits and approvals from the authority.
Why start your textile manufacturing unit in Dubai
There are several aspects that will stand you in good stead if you chose to set up your textile manufacturing business in Dubai. These include the following:
- Market Size- Dubai is one of the biggest global hotpots for foreign and national tourists and is home to innumerable expats.
- Localisation Benefits- Dubai is a gateway to other Emirates and much of the Gulf region. You can also tap markets in neighboring countries such as Qatar, Oman and Saudi Arabia among others.
- Taxation Benefits- There is full income tax exemption for your business and VAT has been fixed at 5%.
- Repatriation of Capital Invested and Profits Earned- You can enjoy total flexibility in terms of full repatriation of the profits that you earn and the capital that is invested.
- Upcoming 2020 World Expo- The eagerly awaited World Expo will be a watershed moment for Dubai, putting the Emirate in the global spotlight. It will definitely enhance business prospects by drawing more tourists and visitors in large numbers.
- Easy Setup for Companies- Setting up a business in Dubai has been made simpler and faster by the Government. The company incorporation procedure can be easily carried out with assistance from GCC Filings as mentioned above.
- Business Licenses- Business licenses or legal permits for companies are swiftly provided in Dubai subject to meeting all regulations of the Government. The DED issues legal permits swiftly post verification of all legal documents.