Dubai was formerly well-known massively for its oil industry; however, the framework has developed in the last two decades. Nowadays, Dubai is a global city and a renowned business hub because of its distinct business model that manages the region’s economy. To attract oversea investment and authorize the economy, free zones have been set up in Dubai that honor overseas nationals with profitable considerations for setting up their business in Dubai and other emirates of the United Arab Emirates (UAE). Free zone Company in Dubai comes up with the huge number of benefits like complete support and assistance, east setup, tax regime, lucrative incentives, 100% ownership, and many more.
The objective of the Dubai free zone is to encourage overseas investment and stimulate economic activity. Dubai was the first emirate to introduce the free zone in the UAE. Dubai’s free zone authority is the government organization that handles registration for company setup in Dubai free zone. The Dubai free zone’s business setup offers a massive number of chances for cooperating, networking, and extensive business development.
Free zones are designed for enhancing international business by offering full ownership to overseas traders. Free zones in Dubai and the United Arab Emirates (UAE) are governed, agreeable to a special framework of rules and regulations applicable to the concerned free zone. In Dubai, free zone companies are handled and operated by the free zone authority. Business set up in Dubai free zones brings a lot of chances for networking, cooperating, and substantial development in the business. Free zones are the most convenient business setup areas furnished with modern infrastructure, amazing facilities, duty and tax exclusions, and resilient government policies.
Dubai Free Zone setup and Company Benefits in UAE
- Full foreign ownership:- It is one of the most apparent advantages of setting a free zone company in the UAE is that full overseas ownership is probable. This signifies that the overseas traders require not to get a UAE national sponsor for company setup. Overseas ownership is likely regardless of the nationality of the traders.
- Import and Export duty release:- Import and Export services do not apply to the free zone jurisdictions in the UAE. This assists in supporting international trade.
- Tax benefit:- Complete tax suspension is suitable for free zones companies. This comprises income tax and corporate tax.
- Lack of currency laws:- Currency laws are currency associated limitations inflicted by the government on the transaction of overseas currencies. There are no currency laws of any type in UAE free zones. This creates financial transactions more prosperous.
- Repatriation advantages:- The companies are suitable for complete repatriation advantages. And this comprises gains and economic assets.
- Simple labour recruitment:- The free zone companies can manage labour recruitment rules smoothly and cost-effectively. The companies are permitted to recruit overseas nationals.
- Efficiency of company establishment:- The free zone company establishment process are easy and smooth. You may achieve the licensing process in less number of days opposed to other jurisdictions.
How to Start Business in Dubai Free Zone
Setup your company in the amazing Dubai free zone . It is a perfect location for all kinds of companies ranging from services to business activities. Dubai has some of the world’s top free zones providing attractive company formation packages and top-notch infrastructure.
- Opt A Business Activity:- To set up a free zone company in Dubai, the first step is to choose a business activity you want to run because the kind of license you apply for will vary upon the business activity’s nature.
- Search A Free Zone:- After deciding business activity, the next step is determining which free zone is best for you. There are sector-specific zones like healthcare, trading, IT, commerce, and many more.
- Select A Company Name:- It is also an essential step to finalize a company name, but before deciding a name, you require to make sure that your trade name is ready to be registered on the free zone jurisdiction gateway.
- Collect Documents And Apply For License:- After choosing the business activity and registering the business name at the gateway, the next vital step is to apply for a license. The kind of license varies on business activity.
- Open A Corporate Bank Account:- Opening a corporate bank account is also an essential step; to open a corporate bank account, you have to collect all the documents as well as your license.
How Start Any Business help you to start a business in a Free zone
Start Any Business (SAB) can assist you in getting your business set up smoothly and quick. This business setup consultants in Dubai can help you with company formation in all primary Free zones in Dubai and other Emirates. The legalities and documentation related to company formation depend on free zone jurisdiction.
Start Any Business (SAB) are a registered company, well informed of the company set up rules and regulations in the Middle East. Free zone company setup in the UAE re rewarding, with tax exemptions, lower establishments overheads, business-friendly government policies, and trouble-free administrations.
About Author
Name : Vandana Joshi
Business community in the UAE and advises large multinationals as well as startups on how to best establish a commercial presence in the UAE.
Email: info@startanybusiness.ae
Contact us: +971585791578
