Business Setup in UAE Free Zones
UAE free zone business setup is one of the most demanded kinds of services. The UAE free trade zones are geographical regions where employment, UAE mainland taxes, and import-export limitations on business do not apply, and also bureaucratic needs are reduced, which makes them the aspired destination for overseas businesspeople.
The companies set up outside the UAE free zones cannot be owned individually by an overseas national, one of the major reasons global traders host to the UAE free zones for the business venture. With this, there are several benefits for start-ups setting up their business in free zones. The profitable incentives and wide range of possibilities offered to entrepreneurs are what makes UAE free zones the most desirable areas for establishing up business.
UAE Free Zone Company Setup And Formation
Free zones have become a famous form of business registration in the UAE. A free zone or free trade zone is a region with an extraordinary tax-free state and low business barriers where goods can be produced, managed, reconfigured, or imported/exported without paying any customs.
Business formation in Dubai, UAE free zones is incomplete without procuring a free zone license UAE. UAE free zone Company formation is smooth and trouble-free because the Emirates government has eased the company set up procedure in the UAE to attract overseas traders with the minimum capital investment. To get the cheapest free zone license in UAE, you can contact UAE free zone company consultants. We are one of the best company consultants, we offer free zone license to customers at affordable prices.
Select the best free zone as per your needs. Some of these free zones promote businesses on a wider scale when others are of certain kinds of business activities. Different free zones have their own laws and regulations to set up a business. The number and type of required documents may also differ based on the type of business activity.
UAE Free Zone Companies List
In the UAE, entrepreneurs can choose from several Free Zones. When it comes to the UAE free zone, there are many companies. Most of the Emirates in the UAE have set up free zones to enhance the economy in the area, promote overseas investment, and drive development. The list of free zones setup across the UAE comprises Jebel Ali Free Zone (JAFZ), Dubai Airport Free Zone(DAFZA), Dubai Internet City, International Financial Center, etc.
How UAE Free Zones Can Help You Register Your Business in Dubai
Companies setup in free zones are not subject to the commercial companies’s law. Free zone in the UAE are outside the jurisdiction of the UAE and have rules and regulations set by concerned free zone officials. UAE freezone Company formation requires three major steps: get your business license; obtain your UAE residence visa; open a corporate bank account. Each and every company operating within a UAE free zone is needed to get a business license.
Free zones officials are the government organizations that enroll and issue a business license to non-resident companies in the UAE free zones. To have a physical presence in the UAE free zone, allow corporate structures and also allow 100 percent ownership, and provide prebuilt amenities and modernized one-stop-shop registration and administration services. When it comes to setting up a company, free zones are well known for their versatility, particularly with regards to opting for the business activity.
Frequently Asked Questions on UAE Free Zone
There are many steps that you have to follow for forming a company in UAE. These include – determining the kind of legal entity, choosing a business name, applying for a business license, choosing an office space, getting approvals, applying for the visa, and opening a company bank account.
There are five cheapest free zones in UAE. These are Sharjah Research Technology, and Innovation Park, Sharjah Media City Free zones (SHAMS), Ajman Media City, Ras Al Khaimah, and International Free Zone Authority (IFZA).
Free zone jurisdictions don’t allow corporations registered under free zone authorities to run a business in Dubai mainland. Most trading corporations in free zones are fully restricted from running a business in the Dubai mainland.
A free zone company isn’t permitted to trade directly with the market of the UAE. The free zone company can go through the local business only through the locally appointed distributors.
A free zone establishment is an LLC company governed by the rules and regulations of the free zone in which this is formed. A free zone establishment (FZE) is an individual shareholder LLC that can be incorporated in all UAE free zone.
The minimum share capital to open a Freezone company in Dubai is AED 50,000 per company and AED 10,000 per stakeholder. For a corporation to be granted a general trading license, this must have a minimum of AED I million share capital. There are different costs for different free zone.
All free zones have several similar features. Full company ownership. There is no income tax, for the corporations and the employees. The best free zones you can choose are – DMCC, Al Khaimah Economic Zone, DWC, JAFZA, DAFZA, and KIZAD.
No one can start their business without money. To form a business, you need money. But you can start your business with quite a little amount. All you need to do is connect with business setup consultants.
There are a lot of businesses that you can start in the best manner. A few of the best are – construction, real estate agency, consultancy services, beauty salon, jewelry shops, import & export, and many more.
The food delivery business is the easiest to start in the UAE. This is one of the very affordable and beneficial businesses. The food delivery market is like to develop at a high level. Because of the pandemic situation, most tenants prefer their food to be delivered to their doorsteps.