Are you interested in or dreaming of setting up your company in the UAE? Then, maybe, a free zone is the best option for you.
Company formation in Dubai & UAE is an easy process with its quick approval progressions. Normally, the business requires a commercial or industrial license and must be set up with a local partner. But what if you don’t have or want a partner and rather retain full ownership of your activity? That’s when a free zone comes into play. Setting up a Free Zone company from UK may have some specific consideration to be done.
Business prospects in the UAE remain attractive with a market that is strong and competitive, as compared to other economies; therefore the Emirates are still a great place to set up and conduct business.
A Free Zone provides vital benefits that can make investing even more attractive for foreign companies. Free Zones (FTZs) are specifically designed to spur economic development in targeted industries and offer a strategic location and a favorable business-friendly regulatory environment (governed by their own framework of trading rules and regulations).
FTZs offer incentives to investors that include “a 0% corporate and income tax rate, no customs duties levied on imports and exports, and the option to repatriate 100% of the profits from the business.”
Each zone has its own perks and rules. Fujairah Creative zone offers, for example, the chance to create a business without physical presence and has no annual bookkeeping requirements. Jebel Ali Zone in west Dubai offers some of the best infrastructures and allows the issuing of three visas without having to setup a physical office. Dubai South, the closest to Expo 2020 site, allows the establishment of a wide range of business activities, from HR to IT to Design and E-Trading. There, the affordable set up allows even businesses with smaller starting budget to operate quickly.
With all the different regulations and permissible activities in each FTZ, it is important to become knowledgeable with all they have to offer before beginning the process of setting up a company. Consulting with experts prior to committing is a great way to bank on the advantages offered and maximize results while virtually eliminating most of the legwork and possible obstacles.
Free Trade Zone in the UAE are providing traders and investors an open doors to new markets—i.e., to expand in the GCC and the Middle East—while able to promote opportunities for new businesses. With Expo 2020 just around the corner, this might just be the best time to dive into UAE business arena.