Yaser & Mayasa proudly introduce our newly open Company inside the Dubai Textile City Economic Free Zone Authority. Our company decided to expand its business by opening another warehouse inside the free zone authority to increase its importation capability to supply our growing market and to reduce cost. For this steps Yaser and Mayasa will have a multiple suppliers in international market so that the source of fabrics that has a limited supply domestically can be support through importation. Because of this our company will be able to meet our customers demand even in the face of supply constraints. And for this action we can say that we can control the supply chains.
The JASMINE FABRIC FZCO.
Dubai Textile City Company Setup The USD 4 billion plus Dubai Textile Mart, which sits at the center of a 1.4 billion booming consumer market extending from the CIS to Africa and the Indian subcontinent, has emerged as one of the most modern and profitable trading points in this region’s commercial map.
Hands held by the Textile Merchants Group (TEXMAS), the apex body in the UAE textile merchants, which was established in 1990, the trade has now earned the reputation of being run by some of the most professionally motivated and trusted merchants in the country. The formation of TEXMAS at the beginning of the last decade was itself a landmark development for the textile trade in the UAE.
One of the significant things to note about TEXMAS membership profile is that it reflects the cosmopolitan environment of the UAE business as the membership runs across a cross section of nationalities including traders from Afghanistan, India, Iran, UAE, Pakistan and Oman. These traders together re-export to over 45 countries.The first and foremost condition on setting up a company into Dubai Textile City is to have a company in the local market of the UAE with the legal entity as LLC, then after the LLC company has to become a member TEXMAS and then it can get a license in Textile City.
The main benefits or advantages of investors or company starting a business in a free zone Authority are:
100% foreign ownership
100% repatriation of capital and profits
100% free transfer of funds
100% exemption from import and export duties
Free zone company formation is quicker than incorporation outside in the city
Inexpensive workforce and easy recruitment procedures
25 years lease options, warehouse facilities, availability of areas for production and assembling etc.