Free zones are economic areas that allow the trading of goods and services by companies registered with a free zone to increase foreign ownership and international businesses in the UAE. Business setup consultants in Dubai can assist in business registration of a new company, foreign or local branch in the Dubai Free Zone or Dubai mainland as per the requirement of the company.
There are various benefits for companies that consider to setup a business in the Dubai Free zones;
few of these are:
The Dubai free zones are designed to provide an easy set up procedure for all businesses that seek to register in the UAE. The application process varies between different free zones and depending on the nature of the business. However, basic documentation such as passport copies and documents related to the business and business owner remains the same. It is beneficial to hire a business consultant to assist in the process of business setup and fasten the procedure by completing it within the estimated time.
It is beneficial for companies to consider setting up a business in Dubai free zones as there is no requirement for a UAE national or local to be a shareholder in the business. This is contrary to a company registered in the Dubai mainland as it requires a local partner in the business.
Another benefit of setting up a business in the Dubai free zones is that most of the free zones allow for a full 100% foreign ownership. This is one of the most influential factors for foreign investors wanting to start a business in Dubai. Foreign investors may find it difficult to setup a business in the Dubai mainland as they will not receive 100% ownership in the business, and the majority share will remain with the local partner. The Dubai free zones do not have such restrictions and allow business owners to acquire 100% ownership in the business.
The Federal Tax Authority (FTA) allows most of the Dubai free zones to be exempted from the payment of VAT in UAE. This influences new businesses to start a business in these Dubai free zones.
There may be various other taxes businesses may be subject to payment in the UAE. However most free zones allow businesses to benefit from 0% corporate and personal tax along with minimal import and export duty with no currency restrictions in Dubai.
Dubai free zones offer a well maintained any fully equipped free zone that facilitates efficient communication system within businesses registered with the free zone. Their infrastructure also includes latest and modern technology that allow businesses to flourish in various sectors including the IT and data protection sector.
The Dubai free zones seek to offer the best visa facilities to businesses that register with the respective free zone. The governing body offers flexible and cost-efficient visa facilities including visit visa and residency visa to the registered companies.
It is beneficial to register and setup a business with the Dubai Free zones if the business owner does not want to invest in a physical office space. Many free zones offer businesses flexi desk and virtual facilities that can allow a business to be registered with the respective free zone without requiring a physical office desk
There are a wide range of free zones in Dubai pertaining to specific business activities, this allows businesses specialising in a particular activity to register their business with the corresponding free zone to acquire benefits offered for that particular business. Few of the Dubai free zones are:
The Dubai free zones provide businesses with a professional environment wherein the confidential information such as company and shareholder details are securely protected from the public. This provides businesses freedom to operate in the free zone while having their privacy intact.
Business setup in the Dubai free zones can often be considered confusing, due to the various free zones available in the region. Farahat & Co provides a team of experienced business consultants that can assist in business setup in any of the free zones across UAE.