YIWU market UAE: The future global trading hub
As part of the initial chapter of the Dubai Traders Market’s establishment, YIWU market UAE is the newest phase in Dubai’s legacy of promoting commerce between the East and the West. It is located in the heart of the Jebel Ali Free Zone (JAFZA) and is establishing itself as the UAE’s first hybrid retail and wholesale marketplace.
DP World and Zhejiang China Commodity City Group (CCC) are partners in the Dh600 million investments. The primary objective of this Dh600 million investment is to facilitate market participants and businesses from across the globe to connect wholesale discounts with reduced supply chain costs and processing times by effectively utilizing Dubai’s strategic location.
The YIWU Market UAE is a specialized global logistics line between Dubai’s YIWU Market and YIWU Market in China, allowing Chinese goods to enter Dubai quickly and at affordable prices for smooth distribution across the Middle East, Africa, the Mediterranean, and Europe. As a part of diplomatic strategy and also to duplicate YIWU Market China’s achievements in the GCC, a portion of the crew was brought in from YIWU Market China, led by Mr. Qiuming Zhang, who was formerly the General Manager of two CCC-owned wholesale marketplaces.
The market will be separated into two parts, each with its own function. 1600 storefronts, five atriums, five major entrances, and extendable parking spaces will make up the first segment. Electronics & Appliances, Home & Office Supplies, Tools & Hardware, Bedding, Curtains, Lighting, Beauty & Accessories, Kitchen & Bath, and Clothing are all represented in the showrooms.
The second part, which will appear similar to the showrooms, will have 324 bonded warehouses with specialized loading docks, offering comprehensive logistical aid for smooth commodity flow. YIWU Market allows a multitude of value-added services, in accordance with Jebel Ali Free-Zone laws, in contrast to being placed in a commercial center for the coming years.
- 100 percent foreign ownership, as well as capital and profit repatriation
- VAT is 0% and the tariff is 0%.
- At Expo 2020, major hotels, business parks, and tourist destinations are all easily accessible by public transportation and highways.
- Accessibility to a Chinese manufacturing network of 100,000 companies.
- Flagship stores with leasing prices as low as AED 500 per square metre per year and no administration expenses
- Only if the products are sold on the local market then customs duty is required. Customs declarations are only passed once.
- Trade routes to key sectors in the Middle East, Africa, Asia, and Europe have been developed.
The expanded Traders’ Market will strengthen Dubai’s position as a vital component in China’s Silk Road Economic Belt, as it is only a short distance from Jafza. Clients may take advantage of cheaper discount prices and faster delivery times due to the recent marketplace. The fact that it is located inside the Jebel Ali Free Zone implies that ownership is unrestricted, that it will cater to big and small companies.
JAFZA Business Formation
Jebel Ali Free Zone, or JAFZA, is the United Arab Emirates’ first and biggest free zone. There are around 7,000 businesses, comprising 100 of the Fortune 500, and they cultivate successful relationships with shareholders and customers.
JAFZA has made tremendous progress in terms of participation in the last several years, owing to its geographical importance and global facilities. JAFZA presently employs over one lakh people and contributes up to 21% of Dubai’s GDP, alongside Jebel Ali Port. It represents over a third part of all foreign direct investment (FDI) into the United Arab Emirates.
A business can be founded with a single shareholder or several shareholders, and the following JAFZA company formation kinds can be incorporated based on the number of shareholders. As a result, it’s important to double-check which kind is appropriate for the company’s start-up. –
- A firm with one shareholder, whether it is an individual or a corporation, is referred to as a Free Zone Establishment (“FZE”).
- A Free Zone Company (“FZCo”) is a corporation with two to fifty shareholders. Shareholders might be solely persons, only corporations, or a combination of the two. It is, in essentially, a limited liability partnership, with the company’s obligations restricted to its paid-up capital.
Business opportunities in JAFZA
- Foreign ownership is 100 percent
- VAT is zero percent
- Capital repatriation is unrestricted, and foreign skills and personnel are unrestricted.
- 0% corporate and personal income taxes
- There are no currency limits
- Multiple visas can be obtained even if there is no real office space
- Infrastructure, support systems, and communications of the highest caliber
- Warehouses and factories are ready to be occupied
Based on their comprehensive knowledge of the emirate and decades of business experience, Jumeira Consultants guarantees that you will obtain precise and appropriate services, and that they will be one of the finest business setup service providers in Dubai for anything involved in business development in the YIWU market and JAFZA free zone.