Mimo Legal Consulting
03/10/2015 Dubai:

Dubai World Central, a 145 square kilometer master-planned city and a largest free zone in Dubai, has been renamed as 'Dubai South'.

The change has been made following the issuance of Law No. 11 of 2015 by His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, which established Dubai World Central as a subsidiary of Dubai Aviation City Corporation.

Dubai South will serve as a new destination that includes iconic real esate prjects, World Expo 2020 site, new airport and a free zone where companies can be established with full ownership.

The objective of Dubai South project is to built a city basing itself on the happiness of the individuals. The city’s ecosystem is expected to create over half a million new jobs and accomodate a total population twice that number.

Dubai South’s logo reflects two essential urban dimensions of living and commerce, whose color is a mixture of green and blue. Green represents living, growth and sustainability. Commerce and industry is universally represented by blue.

Al Maktoum International Airport, which will become the world’s largest once complete, is part of Dubai South. The airport has already started its operations last year. By 2020, the airport will have capacity to fly 220 million passengers and 16 million tons of cargo per year.

Dubai South is also a free economic zone offering full foreign ownership of companies and the flexibility they need to setup, grow and expand businesses. Companies can operate from the Business Park buildings that are fully completed and ready for immediate use. The Business Park comprised of 11 high-quality commercial buildings with finished, ready-to-use offices as wells as core and shall commercial spaces that can be shaped and designed in accordance with client specifications.

As a free zone, Dubai South offers following incentives:

  • Full foreign ownership of companies
  • 100 per cent tax-free operations
  • 100% repatriation of capital and profits is allowed
  • No taxation
  • No customs duty for import and export
  • Wide range of business activities are available
  • Minimum documentation is required to setup a company
  • No requirement to provide or proove a share capital
  • No currency restrictions
  • Affordable business setup fees
  • State-of-the-art facilities
  • Direct access to Jebel Ali Sea Port and Al Maktoum International Airport

Moreover, the venues of the World Expo 2020 and the Dubai Airshow are located within Dubai South. More details about Dubai South project, please click here.