Dubai Free Zone business setup: One attractive option that foreign investors can find is setting up a business entity among one of the Free Zones in the UAE. The reason is because, Free Zones do facilitate business activities as well as attract those companies eager to set up their businesses easily and quickly. UAE based Free Zone areas are distinguished geographical sections, whose regulations and laws are found to be immensely different from that of the laws which governs the companies in the UAE. Organizations operating in the Free Zones are regarded as companies operating external of the UAE or foreign companies.
Dubai Free-Zone company registration is very much straightforward. Generally, it takes about three weeks for incorporation. Once the preferred free-zone is determined, you need to:
- Reserve company name
- Rent out office premises
- Open up corporate bank account & deposit minimum paid-up share capital for receiving confirmation of bank statement.
- Arrange for establishment deeds and articles of association.
- Secure proper and relevant Free-Zone Authority approved business license.
- Allocate budget for notarization and translation costs pertaining to due diligence.
As a matter of fact, Free Zones are said to offer fertile ground to establish businesses, offer world class business amenities, duty & tax exemptions, equipped with the most advanced infrastructure, unmatched facilities and flexible government policies. Some of the benefits to be derived from establishing business in the Dubai Free-Zone are given below:
- 0% corporate tax
- Minimal Export/Import duty
- Full profit and capital repatriation from the business
- Capital gain tax and personal income tax exemption
- 100% ownership without UAE sponsor aid
- Full-fledge infrastructure combined with highly efficient and effective communication system
- Transparent, stable laws & regulations
- Quick business set up & licensing
- Single window clearance to enable better and quicker administrative services
- No restriction levied upon currency movements
- Visa restrictions not present on recruitment following liberal labor laws
- Low operational and startup cost
- Pre-built structures – warehouses, factories, offices
- Easier and better access to skilled professionals
- Additional services like on-site labor and housing assistance, sponsorship
- Business support services combined with efficient and quicker operations with the touch of the button
- Attractive working environment
- Easier access to road, rail and air transport systems
- Modern IT infrastructure having multi-tiered data centre
- Ready consumer market throughout Asia and MENA regions
- 224*7 operational ability
When trying to establish a company within Dubai Free Zone, there might be faced certain limitations:
- High notarization and translation costs
- Not in a position to conduct business or be able to engage with business activities with suppliers or clients in Dubai mainland.
- Pre-requisite present to rent office premises in the chosen free-zone.
Dubai does boast of having 30+ free zones. Hence, when trying to establish a company here in the Dubai free zone, there is a genuine need to know the advantages and attributes of each one. In case, your company is to offer IT services, for example, you can consider Internet City Zone or Dubai Media City. But, if you plan to set up a trading company, then Dubai Multi Commodities Centre can be a conducive place. The most appropriate one to set up a shipping company is Jebel Ali Free-Zone. It is equally good for those requiring better, easier and quicker access to sea ports and airports.
Dubai Free Zones do offer investors with multiple investment opportunities, as well as the flexibility to choose any business entity which perfectly fits their unique business objectives and needs. Substantial tax savings, freedom to carry out business, combined with robust infrastructure is what have been compelling entrepreneurs and investors to establish their businesses in the Dubai free zones.
At Black Swan Business Setup Consultants, Dubai, we have the necessary resources, experience and expertise that you will require to fulfill your entrepreneurial dreams. You do not have to worry about documentation, visa applications, licensing formalities, rigmarole, banking details, residence permits, etc. Our expert team will take care of all your specific requirements.
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