UAE FREE ZONE COMPANY

BUSINESS SETUP IN DUBAI

PROS OF SAIF ZONE COMPANY

— Located next to Sharjah airport - easy logistics

— Wide range of Industrial activities

— The company can be registered in 1 day

— Small office facilities available

CONS OF SAIF ZONE COMPANY

— Annual audit is required

— Passports of employees may have to be kept in the Free Zone

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About Sharjah Airport International Free Zone


SAIF stands for Sharjah Airport Free Zone. It is located next to Sharjah international airport. It was formed in 1995 and hosts almost 7000 companies now. It has one of the fullest range of facilities - starting from flexi desks and offices, ending with warehouses and plots of land.

SAIF's business activity list is very broad and even has some hard to get service activities, such as "Investment of own funds". Activities also allow storage and consolidation of the products specified in your license, as well as manufacturing and assembling of your products.

The prices are more than competitive. Offices are fully furnished and the rent includes all utility charges.

SAIF zone has good reputation in the banks - investors say that opening up a bank account is faster and easier than in some other zones.

We do recommend SAIF zone to both startups and existing businesses - the location is very near to Dubai, and the prices and facilities are more than attractive.

TRADING AND SERVICE LICENSE COSTS IN SAIF FREE ZONE


UP TO 5 VISAS COMPANY

LICENSE TYPE

VISA INCLUDED

TOTAL COST

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

GENERAL TRADING / OIL&GAS / INVESTMENT LICENCE COST IN SAIF FREE ZONE

UP TO 5 VISAS COMPANY

LICENSE TYPE

VISA INCLUDED

TOTAL COST

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

General Trading

NO VISA

AED 27,999 or $7000

DOCUMENTS FOR SAIF FREE ZONE SETUP

DOCUMENTS

PROCEDURE

INDIVIDUAL SHAREHOLDER

-Passport

-Passport size photo

-NOC from sponser UAE visa holders

1 day - Visit SAIF for company registration

1-3 week - Establishment card

1 week - Entry Permit

1 day - Medical Check-Up and Emirates ID

4 days - Visa Stamping


How to choose a free zone suitable for you?

TOP 10 QUESTIONS ABOUT SAIF FREE ZONE COMPANY

If l register a company in a free zone outside of Dubai, can l live and have a bank account in Dubai?

Yes, you can have a company registered outside Dubai, but reside in Dubai or any other Emirate. You do not have to live in the same Emirate where your visa belongs to. You can also have a bank account in a Dubai branch of any UAE bank of your choice.

Can I open a bank account remotely?

No, you have to visit UAE personally. It is a requirement of a UAE Central bank which all local banks have to follow. Personal visit is required to make sure that the client is known by the bank.

Do banks give debit and credit cards or loans?

Normally you can get a debit card for your newly opened company if there is only one shareholder. You can also have a credit card, but it will be given against a fixed deposit. As for the loan, it is possible to get it, but you need to show company operations and profits to the bank. Upon checking your company's turnovers and profits, a bank may approve a loan. We recommend applying for it at least after one year of company's operations.

Why do I need a flexi desk or office?

A flexi desk is an obligatory requirement for any company eligible for resident visas. UAE government obliges to have it because it's the minimum physical office space, that a company who has any individual under its visa must have. Apart from that, flexi desk is helpful for bank account opening. The compliance department of the banks needs to see that a company has some kind of office or at least a small physical seat, where it can be working from.

Can a free zone company hold its offices outside the free zone?

Officially an office of a free zone company has to be located only within the free zone where this company was registered. If you need an office in Dubai, you have an option to rent a space in a Business center and use it either a few times per month or daily, depending on the package that you choose. However, the free zone minimum required space (flexi desk) cannot be cancelled.

Do we have to pay VAT if our company is registered in the Free Zone?

VAT obligations of the company depend not only on the place of its registration, but on the place where its business takes place. To start with, VAT comes into picture once your taxable turnover reaches 375 000 AED. Taxable turnover means the turnover which was done in the UAE. If your company is registered in a Free Zone, but the trading takes place abroad (for example you sell goods from India to Africa), that turnover is not considered taxable, because the transactions are taking place out of UAE. It means that you do not have to pay VAT. But if you have a free zone company and import goods to UAE, you have to add 5% VAT to your Invoices and pay VAT. If your company is registered in a designated free and sells the goods to another designated free zone or within the same zone, VAT does not appear.

Can you guarantee opening of a bank account?

We do our best when we setup your company in such a way that would make account opening easier for you. Knowing your background and your business model, we can give you our estimation about the chances of successful account opening. The approval of the account fully depends on the bank. Each case goes to a few departments of the bank where it has to be approved before the account gets opened. If the bank has any questions or needs clarifications, it will contact you directly with the inquiries. The more clear picture about your business you give to the bank, the higher your chances of account opening are. Being a consultancy company, we cannot guarantee opening of a bank account, because it depends on the factors which do not depend on us. However, we do our best to prepare you and your company for smooth and fast account opening.

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