E-COMMERCE AND DUBAI FREE ZONES

         

Two popular words making rounds of late in Dubai free zones are E-COMMERCE and SMART SERVICES as Dubai free zones ( J.A.F.Z.A., D.W.C, D.A.F.Z.A, etc) aim to build its attractiveness to foreign investors or entrepreneurs looking to set up businesses in Dubai, branch offices, Limited liability Companies or offshore firms in Dubai  . With all 25 free zones trying to tap into a known fact that Dubai has a huge opportunity in taking the lead in the M.E.N.A region because of its unique position of regional hub, most of these free zones have introduced easier ways for registration, inquires and applications online and also, of late in conjunction with the Dubai Department of Economic Development are trying to get banks to come up with  faster turnaround times, easier processes, and cost-effective solutions to promote businesses to set up merchant accounts in order to be able to sell online not only for the free zones but also for businesses set up in Dubai mainland

Despite these good initiatives a recent poll conducted in  J.A.f.Z.A Associates Forum 2013, more than half of the guest felt that in order for Dubai to lead the region in e-commerce, regulation and standards as well as Internet penetration needed to be improved on from their current levels. The poll was not wrong in its call, current statistics show that the M.E.N.A region’s offline retail market is worth $425 billion, with e-commerce spending at $9 billion in 2012. This figure is expected to grow to $15 billion by 2015. However, despite 47 per cent of the population having payment cards, cash and cheques, are the most commonly used payment instruments, while 70 to 80 per cent of consumers use ‘cash on delivery’ as the preferred payment method for online shopping. A majority of the consumers cite lack of trust in payment options as the main reason for not using online payment methods, according to the latest statistics. 

In my opinion if this was a criteria considered during the just recently concluded EXPO 2020 host nation election then I believe something right is been done behind the scene to boast the above statistics before 2020 which i believe will be made known to the public sooner rather than later. 

David Enyinnaya. M.I.B.

Consultant
International Business Relocation Specialist

+971508423965

david.enyinnaya@adamglobal.com

FAST GROWING FREE ZONE; DUBAI WORLD CENTER

Dubai World Central (D.W.C), which is the world’s first purpose-built aerotropolis, is a strategic initiative of the government of Dubai in its effort to make Dubai the leading international trade center  Deemed as one of the most ambitious projects of its kind in the world, the D.W.C. which spans 140-square kilometer is located near the Jebel Ali Sea Port which combined with the aviation district planned within D.W.C. delivers unique multimodal capabilities that support a multitude of activities including logistics, aviation, commercial, exhibition, humanitarian, residential and leisure-related businesses.

D.W.C. will be made up of 3 unique districts. These districts are:

• The Aviation district
• The Logistics district
• The Business park

The Aviation District is established to accommodate the entire range of aviation manufacturing and associated industries, Fixed Base Operators (F.B.O's) & Maintenance Repair & Operations (M.R.O's), aviation support services, design and consultancy, research and development, aviation training, products and parts, light manufacturing units and high-technology industries. 

The Logistics District has been designed to address a gap in the global supply chain as it paves the way for a fast logistics cycle with operational predictability.The Logistics District offers direct access to air, sea and road transportation, including a dedicated airport-seaport corridor that allows cargo to be moved from port to airport in just 20 minutes. It also offers simplified start-up procedures, minimal bureaucracy and is competitively priced. Moreover, the district’s corporate occupants can opt for either free zone or non-bonded zone licensing. 

The business park district offers companies benefits from the free zone environment. Companies enjoy advantages such as 100 per cent tax-free operations; 100 per cent foreign ownership; no corporate tax; flexible commercial lease terms; competitive rates; state-of-the-art facilities; and direct access to Al Maktoum International Airport. A key component of the Business Park is the D.W.C Business Center (D.W.C.B.C), a fully equipped business complex offering an array of smart office solutions, including dedicated and shared desk options. With 100 per cent license ownership, D.W.C.B.C enables entrepreneurs and small businesses to offer their services to a wide range of local and international companies at a highly competitive lease rate starting from just A.E.D 29,900.

ADAM Consulting being the foremost Experts in Free Zone, Offshore and Mainland Company Formations, as well as the only ISO certified Registered Agents in the U.A.E, are proud to announce a new Strategic Partnership with the Newly Launched D.W.C.

Now the million dollar question is what are you waiting for?

David Enyinnaya. M.I.B.

Consultant
International Business Relocation Specialist

Adam Global

+971508423965

THE UPWARD GROWTH OF THE U.A.E. ECONOMY

Driven by the non oil industry expansion, economic growth in the United Arab Emirates is catching up to its global peers.

The G.D.P. in the U.A.E according to the median estimate of 18 economists in the Bloomberg Middle East Economic Survey is forecast to grow 3.9 percent in 2013, , up from 3.4 percent in the previous quarter. That’s the biggest upward revision in the six-nation Gulf Cooperation Council, which also includes Saudi Arabia, the biggest Arab economy.The country’s non-oil economy is forecast to expand 4.5 percent this year, the fastest pace since 2008, according to data compiled by Bloomberg and International Monetary Fund estimates.

The growth in the U.A.E. has got the attention of the world. Mr. Simon Williams Dubai-based chief Middle East economist at HSBC Holdings P.L.C is one of the of many economist to have taken note. He said and I quote,“We have been optimistic about what we have been seeing in the U.A.E in the last 18 months, It’s a growth story that has substance and it’s gaining momentum. It’s a mix of the export-orientated service sector in Dubai coming back to life and also a slower but a significant recovery in infrastructure spending in Abu Dhabi.”

“Non-oil growth should spearhead activity this year, but hydrocarbon output is also expected to contribute positively,” Giyas Gokkent, chief economist at National Bank of Abu Dhabi P.J.S.C. Going against the odd, the crude oil output is up by 4.6 .The U.A.E sits on about 6 percent of the world’s proven oil reserves. Economy Minister Sultan Al-Mansoori said he expects gross domestic product to expand as much as 4.5 percent this year.

All growth and potential growth reinforces the point that U.A.E. is going to be in years to come the new business stop for companies around the world. U.A.E. is steadily creating a conducive environment for all business sectors and forms of business.

David Enyinnaya. M.I.B.
Consultant
International Business Relocation Specialist

M: +971508423965

E: david.enyinnaya@adamadvisors.com

SMART SERVICES INTRODUCED IN DUBAI FREE ZONE

SMART SERVICES INTRODUCED IN DUBAI FREE ZONE

Dubai Airport Free zone (Dafza) went a step further in building its reputation as a technology driven free zone with the launch of its first official mobile app during Gitex 2013. With the key objective to make Dafza services more accessible to existing and new businesses, the app will feature most of Dafza’s current online services, servicing tenants and potential business investors around the clock.

Buthaina Hamad Bin Fahad, Director of Information Communications & Technology Dafza, said, “Dubai Airport Free zone’s first app will provide potential and existing tenants with highly engaging and qualitative services, already available on an online platform, but made more convenient through their smartphones”. The interactive platform the mobile app will provide cannot be over emphasized, especially in this age of smart phones and devices. Currently according to Google Inc., smartphone penetration is at 62 per cent in the U.A.E, ranked as one of the highest penetration rates on earth. This platform will help Dafza build an interactive relationship with customers, potential investors and employees.”

“Coinciding with Dubai Government’s plans to make more services available online, we are making the shift, progressively, towards smart-Government services from October until April 2014,” added Buthaina.

The uniquely designed app boasts distinct navigation tools. Users will have access to, and can request, over 120 services such as new business inquiries  forms, finder options and a listing of client directories that include details of over 1,600 companies.

David Enyinnaya, B.Eng, M.I.B
Business consultant | ADAM Consulting
International Business Relocation Specialist
Mob: +971 50 8423965

Email: david.enyinnaya@adamadvisors.com

Skype: enyinnaya.obioma

OFFSHORE AND U.A.E.

An offshore company is a company that has been incorporated in a country other than one’s place of residence, citizenship and domicile. It is very flexible, cost effective and hence provides an alternate corporate vehicle to investors.

Offshore companies play an integral role in the global economy, providing a confidential, tax efficient means of international investing and conducting global business. UAE entered into the race of attracting global businesses in the turn of the new millennium and regulations have been framed to deliver the convenience and efficiency of global offshore locations while maintaining a high reputation with international financial authorities. Currently there are 3 offshore jurisdictions in U.A.E. Jebel Ali Free Zone Offshore Companies Regulations came into force on 15 January 2003. This was also followed by International Business Companies concept of the Ras Al Kahimah Investment Authority and finally RAK free trade zone popularly known as RAKIC.

Popular use of offshore companies includes:

• Trading company
• Investment Holding Company
• Royalty/Patent/copyright Holding company
• Professional Service Company
• Asset Protection
• Overseas Property Holding
• Confidentiality

Key benefits of UAE Off-Shore Company are:

• Low Startup Cost
• Low maintenance cost (no premises, staff or equipment)
• Prestigious location of office address in Dubai
• Quick Incorporation Process
• Invest in Companies, Factories and Establishments
• Buy/investment in UAE Free Hold property
• International General Trading of Goods & Services
• Asset protection
• High level of  Anonymity and confidentiality
• Optimization of tax savings
• Globally respected jurisdiction
• Convenient and flexible Bank Account opening
• Business can be conducted internationally and many more...

UAE offshore incorporation requires an agent; you will need to choose one in order to register your company. The offshore package offered by any service provider stipulates that the agent representing the service provider would act as a link between the newly formed offshore enterprise and the local government.

ADAM CONSULTING

Adam Consulting is a vertically integrated, global, corporate services provider with a full range of services. It offers a broad range of expertise in business startup, intellectual property, offshore wealth solutions, hospitality, logistics and transportation, trade advisory, mining and information communication technology. We are the trusted advisors to global businesses and many governments.

Adam consulting is the only ISO certified registered agents of all three jurisdictions i.e. RAKIA, RAKFTZ and Jebel Ali Free Zone (Dubai) in United Arab Emirates to register offshore companies and assist in opening bank accounts. We usually assist our clients to open bank accounts with all local and international banks in UAE:

OUR OFFSHORE SERVICES

• Consulting & advice on offshore
• To prepare application, MOA & AOA of offshore
• Take necessary approval from RAK and collect certificate of incorporation

• Introduction to corporate bank executives for all local banks and international bank ( Emirates NBD, Masreq Bank , Abu Dhabi Commercial Bank , National Bank of Abu Dhabi, Noor Islamic Bank)

• Advice on asset protection and holding structure
• Tax planning advice
• Prestigious registered Dubai address

David Enyinnaya: +971 50 842 3953

Email: david.enyinnaya@adamadvisors.com