Dubai permits export of goods without bank guarantees
Dubai Customs has announced the issuance of new procedures that allow the export of goods stored in three free zones in Dubai without the need to submit bank guarantees or cash deposits, provided that the goods exit through their designated customs ports within 30 days of the customs declaration being registered. The three free zones include Jebel Ali Free Zone, Dubai Logistics City, and Dubai International Airport. Export must be carried out through approved ports and airports. Companies are required to prove the exit of goods within 45 days by submitting documentation such as an exit declaration and an accredited certificate. The deadline can be extended to 45 days, with late penalties imposed if the deadline is not met. This measure aims to simplify export procedures and reduce costs for companies, while ensuring proper legal reconciliation of customs declarations within the specified timeframes.
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