If you’re setting up a business and you’re now in the stage where you have to decide on the authority or jurisdiction where you’ll operate and register your business, United Arab Emirates provides myriads of options for you in terms of business setup in UAE free zone. Do you require a free trade zone that’s solely dedicated to learning and education? Would your business be part of the healthcare industry? Perhaps you are searching for the economic zone that’s riddled with your fellow creatives.
In UAE, entrepreneurs have more than enough trade zones to choose for business setup. There’s so many options, which is amazing; however, it can be overwhelming, most especially if you have no idea where to start your search and no clue with regards to how you should filter your options. To give you some help and understand your options, ultimately saving you a massive headache, we have put together this guide where you will know everything that you should be aware of when it comes to business setup in UAE free zone.
Types of UAE Free Zones
Free zones in UAE fall under these categories:
Industry Specific UAE Free Zones
Across the country, you will find free zones that are intended for certain industries. In fact, you may already know this yourself. Starting from Fujairah Creative City and Twofour54 to Dubai Healthcare City, you will be able to find a home that’s suitable for your business regardless of which sector it belongs.
You may ask why might the free zones be an excellent choice for a new business venture. Take note that an industry-specific UAE free zone is an incredible place where you will find the most supportive environment for business. It’s helpful if the graphic design studio you are establishing has neighbor that’s considered as one of the popular website developers on the internet or your health and nutrition clinic which you’ve just started to set up is a floor below an experienced and reputable gastroenterologist.
Yes, you may think it is not a good idea for your business to be surrounded and within the premises of possible competitors. It only takes time and experience for you to realize how awesome it is to collaborate with likeminded people and how your business is boosted simply by being in the midst of more established enterprises.
There is another advantage with being in a specialized free trade zone. Authorities that are running the free zone can be knowledgeable with the represented industry. You’ll be able to take advantage of the extra boost you can get from the free zone authority as it provides advice and invaluable support you would not be able to get in a free zone that isn’t specific to a single business industry.
Additionally, industry-specific free trade zones in UAE host seminars, networking events, and conferences that are targeted to certain specialties. This means you will meet lots of colleagues and potential clients where you can give a presentation about your business!
General Purpose UAE Free Zone
It can be that you are diving into a field which doesn’t have its dedicated free zone in the UAE or you are doing something that’s a niche. Maybe you also want to surround yourself with a variety of businesses that are not related to your industry. If that is the case, then a more general-purpose UAE free trade zone is what is most suitable for you.
Take note: there are not as many free zones in the UAE that are considered as general purpose unlike the massive number of industry-specific, specialized zones in the country. However, the general-purpose ones can be huge such as the DMCC which is located in the Jumeirah Lakes Towers in Dubai. The DMCC offers a huge list of licensing activities that investors and entrepreneurs can choose from. This includes legal services, healthcare, education, and more. You may be keener in going a bit further from Dubai plus you are not in need of a physical office. If so, then you may interest yourself with Umm Al Quwain (UAQ) free zone, Ajman Free Zone, or Ras al Khaimah (RAK) Free Trade Zone. These and more can give you as many options when setting up your business and getting a trade license.
Whatever free trade zone in UAE you finally decide on, it is going to be the home for your business for quite some time. With that being the case, treat the process as if you are choosing a brand new flat to live in. You are to consider your style, the management you prefer, the neighbors you want to be surrounded with, and more. Talk to FAR Consulting Middle East’s experts in business setup in UAE free zone as they can greatly help in filtering your options based on your specific need and requirements.