UAE FREE ZONE
UAE Free zones are attractive jurisdictions for investors who wanted to have 100% ownership of their businesses. The idea of a Free Zone has been established internationally as a model to develop and promote business in many countries. Since UAE Free zones are offering 100% foreign ownership, Zero tax and customs privileges which make the UAE free zones the most favourable locations in the Middle East for international operations and appeals many in Free zone company formation in UAE.
UAE Freezones
Free Zones (also known as Free Trade Zones) are designed to boost international business through 100% ownership provision for foreign investors, and single window administration convenience. Once your business is up and running in the UAE, you, as the business owner, may apply for a UAE residence visa and hire staff. You may also apply for UAE residence visas for your dependents such as family members. UAE has over 50 free zones covering all main business sectors. Whether your business is industrial, commercial, consultancy, retail, education, health or technology, the UAE free zones are ideal locations to establish your business.
Dubai is the business capital of UAE with specific established free zones for a wide variety of business fields. However, other Emirates now follow Dubai’s business vision and have developed their own Free Zones offering competitive and flexible rates competing within the UAE market. Free zones offer a limited company with flexible structure for corporations and individuals, and a very easy process with only few days’ work required to establish and get your business up and running. The process can be done remotely, and foreign investors are not required to be physically present in the UAE to establish a new company.
Freezone Company In The UAE
Free Trade Zones in the UAE are isolated lands or settings, which have a special tax, customs and import regime and are governed by their own distinct framework of regulations (with the exception of UAE Criminal Law) The UAE has several free zones across all seven Emirates, Free Trade Zones can be broadly categorized as sea port free zones, airport free zones and mainland free zones. An operating license is issued for specific Free zones have historically been divided by trade themes (i.e. Internet City, Knowledge Village, Logistics etc) but this is less relevant now
Characteristics Of Freezone UAE
● Real Estate Arrangement Options It is a precondition to setting up a Free zone Company, that the entity will lease a certain type of real estate within the Free zone. Here is the spectrum of possibilities. Flexi Desk a work station in a common office space area that can be used for a certain number of hours weekly.
● Flexi Office/Cubical small office space area that can be used a certain number of hours weekly.
● Office space renting either a serviced office (covering all expenses) or renting and setting up an office with furniture and equipment. You can also rent an office as a core and she In certain Free zone it is possible to buy an office
● Warehouse in certain instances it is possible to rent or to buy a warehouse Land in certain instances it is possible to rent or to buy land.
Ownership
The main attraction of setting up in a Free Trade zones is that a foreign investor can fully own (100% and retain management control of their business without the requirement to find and engage with a UAE national partner.
Taxation
● 100% Import and Export Tax Exemptions.
● 100% Repatriation of Capital and Profits.
● Corporate Tax Exemptions for up to 50 years.
● No Personal Income Taxes
Freezone Advantages
● No personal income or capital gain taxes
● No corporate taxes for Dubai free zone business set up
● 100% foreign ownership is allowed in Dubai free zone business
● No duties on import and export
● 100% repatriation of capital and profits
● Modern efficient communications
● No recruitment problems and liberal labor laws
● Attractive working environment
● No currency restrictions
● Excellent support services.
Choosing a Dubai Free Zone to establish your company There are many factors to consider when you are determining which free zone company set up would be most appropriate for the establishment of your business. These factors include
● Location of the free zone company set up
● Facilities offered by the Free zone
● Licensing process of the proposed activity
● Cost of Dubai free zone company formation
● The prestige of a particular free zone
● Hidden charges in Dubai free zone business setup
● Numerous other factors based on your business needs
Eligibility For Residency And Work Visa
● Ease of setting up corporate bank accounts
● Ease of setting up personal bank accounts for investors who acquire an Investor Visa and for employees who acquire an Employee Visa.
● The minimum requirement for maintaining such a visa is a re- entry in the UAE once every 6 months.
THE BUSINESS SETUP offers a set of services specifically for places in the Dubai free zone and other UAE free zones as mentioned above. This includes verification of permit requirements, identification of the nature of business of a company wishing to make a presence in the Dubai free zone, comply with the legal procedures and business documentation as per requirement and entrust the procedures to auditors and lawyers.
Company registration amendments, renewal of license, account maintenance and auditing, PR activities with the respective representatives of the ministries and drafting a definite protocol for the smooth functioning of the business towards Free Zone Company set up is part of our value-added services. We also provide for legal consultation and opening of bank account as complimentary free service for UAE free zones.”
We Provide Free Consultation
A good business consultant has experience in the business world and comes to you with fresh eyes and a range of experience. While you know the history of your business and how you got where you are. When you’re running your business, it’s hard to step away and take an honest outside look at how you’re doing and whether you’re making mistakes.
