What Is Dubai Free Zone?
Get access to the highest advanced infrastructure, demonstrative sites, telecommunications, very affordable resources and many more in UAE free zones to invest for a successful business setup. We at EBMS, are excited to help you setting up a victorious business in UAE Free zones.
Freezone or Free Economic Zone
Do you want a business setup in UAE with complete ownership freedom? Welcome to the freezone UAE complete guide. After reading this information package you will be able to make a solid decision for setting up your business in UAE.
There are two main sectors working behind the UAE economy: “onshore” and “offshore”. Free economic zones are designated by relevant authorities where companies can be 100% owned by the foreigners and they do not require a 51% local partner. If you are willing to setup a business and you are a foreigner, we recommend you to go for one of provided freezones.
Free economic zones allowed companies to work in UAE and run their operations with freedom staying in their freezone where their company is registered. The first UAE free zone company became apparent in 1985.
Free Zones development was a brilliant concept to promote, grow and develop new businesses. This is an appreciable concept in the international business community. This is the best ideal option for trade and export.
There are three categories of free zones: seaport free zones, airport free zones, and mainland free zones. There are so many freezones across Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al-Khaimah and Umm al-Quwain. Dubai alone has more than 30 free zones.
The objective of free trade zones or economic zones is to offer tax concessions and custom duty benefits to attract the foreign investors.
If we talk about one freezone that is recognized globally as best freezone it is DMCC. There are 10,000 businesses registered only in this zone and winning their goals efficiently.
All zones provide specific help for the particular industry. The interesting part is that now free zones have changed their strategies and have opened their doors to multiple industries.
Difference between freezone and offshore Companies
Do you have difficulty in differentiating between freezone and an offshore company? This is not your fault. Both the companies can be 100% owned by a foreigner. Both companies are registered by Free Zone Authorities. Both companies get 100% corporate and personal income tax, import and export tax exception.
Setting up business in UAE requires a complete knowledge about the difference between Free Zones and Offshore. Let’s make it easy for you. Free Zone Company is a company that can operate business within UAE while an offshore company is not allowed to work within the region.
Free zone advantages
Free Zones are a big appeal to the foreign investors. The purpose behind the existence of Free Zones is the same; to entice the big and small both business entities from various industries to invest inside the UAE.
The successful establishment of Free Zones encouraged Authorities to create more Free Zones to facilitate foreign investors as well as to improve UAE’s economy. Therefore, new free zones are being declared every year.
All Free Zones rely on same rules regulations but the environment and services they offer are slightly different. Here are some advantages and services that Free Zones usually offer:
- Ownership: You own your company 100%
- Freedom: No Taxation
- Sponsorship: No sponsorship of a UAE citizen is required
- Custom Duties: your imports and exports both are duty free
- Residency Visa: Business partners or shareholders and employees can have UAE residency visas
- Workforce: Very affordable workforce availability
- Work Timing: Free Zone company can operate its functions 24 hours
- No personal income tax, capital gain tax and corporate tax
- Restriction free money transaction
- Easiest and fastest procedure to register a business or company
- Setting up business at low cost is possible
- Employees visas process is easy and restrictions free
- Clear and Secure rules regulations
- Affordable skilled professionals availability
- A complete infrastructure with unquestionable communication system
- Business support and other additional services available
- Best working locations and perfect working environments
Free zone visa
In general all the Free Zones in UAE have a unique officious and may have different requirements in terms of business regulations. You need a preliminary research before final decision to set up a business in UAE.
Free Zone visa process is basically very easy but only for those who are professionally expert in this field. This is very important to choose a proper platform for your business so you will be able to establish a successful entity.
You need an authorized company registration agent or professional business consultants in UAE to guide you through the whole process.