A free zone, also known as a free trade zone, is a special economic zone where companies can operate and receive considerable tax and fee exemptions. Expatriate residents can also have 100 per cent of company ownership.
Companies within free zones are treated as offshore companies and therefore do not need to engage with the customs authorities or Ministry of economy. Instead, they are governed by authorities designated for the specific zone.
The free zones in Dubai offer a regulated and secure business environment licensing a whole range of business activities. They boost economy, promote foreign investment and drive growth.
It is an initial step for setting up a company in UAE free zone. In the free zone, you can start one of the following two different kinds of firms, including:
- FZE (Free Zone Establishment)
- FZ Co (Free Zone Company)
- Determine the type of legal entity
- Choose a trade name
- Apply for a business licence
- Choose an office space
- Get pre-approvals, register your business and get your licence
In the UAE free zones, you can select from more than three thousand business activities that range from more than hundred sectors like shipping, diamonds, gold, commodities, aviation, and energy, professional
services, financial services, personal services, community services, FMCG, constructions, technology, media, education and much more.
Our business advisors have been setting up new businesses in Dubai for years and know everything about this matter. They will be happy to give you the advice that you need and will most likely already have experience in
setting up your business in Dubai.
Companies established in free zones are governed by the rules of the respective free zones. To get the necessary approvals, you need to apply with the documents. The list of documents varies on the type of business activity, the type of company and the requirements of the free zone authority.
- The main advantage offered by the UAE free zones is that foreign investors can retain 100% ownership of their businesses without the need for a local partner.
- Outside of free zones, non-UAE residents are not
allowed a majority stake in the business if that business requires a commercial or industrial licence, and must therefore set up with a local partner who takes minimum ownership of 51%.
- Other financial incentives
of the UAE free zones 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.
- Free zones are sector-specific.
Another factor that can present fantastic opportunities to free zone companies is that many of the UAE free zones are sector specific. This gives its entrepreneurs ready access to a hub of knowledge and expertise
from others within their field.
- 100% repatriation of capital and profits
- Flexibility to operate 24/7
- Easy recruitment procedures
Therefore, free zones in the UAE are outside the jurisdiction of the UAE and have rules and regulation set by concerned free zone authorities. These free zones offer an excellent business opportunity
for investors from all around the world and provide a liberal working environment and easy company setup procedures. The procedure is plain and simple.
A professional firm with regional focus and having global representation, UAE Free Zones spectrum of services covers all aspects of doing business in the
UAE.
Founded in 2001, we have been known for giving consistent, flexible and personal consultations for our clients. We are committed to provide the best business advisory services on a timely basis with personal dedication
to each client, helping them with their plans and being available to help and solve simple as well as complex problems.