Freezone Company set up in Dubai UAE; Key steps to start a company

October 6, 2019by Maricar Caluracan0

Freezone Company set up in Dubai UAE

The UAE is becoming increasingly popular among businessmen around the world every year. Free trade areas in the United Arab Emirates are areas with a special tax, customs, and import regime governed by their own regulatory framework. The UAE has several free zones throughout Dubai, including Abu Dhabi, Sharjah, Fujairah, Ajman, Ras al – Khaimah, and Umm al – Quwain. Free zones can be widely classified as free zones for seaports, free zones for airports, and free zones for continents.

Benefits of Setting up a Freezone in UAE

• 100% Foreign ownership of the company
• 100% Exemption from import and export tax
• 100% Capital and Profit Repatriation
• Exemptions from corporate tax for up to 50 years
• No taxes on personal income
• Employment assistance and additional support services, such as sponsorship and housing.

Dubai is quite liberal in terms of its trade rules and regulations and, unlike anywhere else in the world, trade options are also varying in abundance. All the free zones subsequently formed work along with the same rules of setting up a free zone in UAE. In addition, one of the notable aspects of these free zones is that they focus in particular on specific companies based on the industry.

Creating a business entity in one of the free zones of the UAE is an attractive option for foreign investors as free zones facilitate business activities and attract businesses that are quickly and easily starting up a business.

Key steps to start a company

It is relatively easier to set up a business in a free zone. Authorities for the free zone require minimum paperwork and duration.

  • Determine the legal entity type

The type of license you require will be determined by your type of business.

  • Choose a name for your business

Ideally, the name of the company should indicate the nature of the business unless it is another company’s branch.

  • Request a business license
  • Select an office space
  • Get pre-approvals, register and obtain your license

Types of Freezones in Dubai

  • Freezone Company Formation UAE
  • ADGM Freezone
  • Ajman Freezone
  • DIFC Freezone
  • Dubai Multi Commodities Freezone (DMCC)
  • Jebel Ali Freezone (JAFZA)
  • RAK Freezone (RAKEZ)
  • Sharjah Freezone (SHAMS)
  • Umm Al Quwain Freezone (UAQFZ)
  • Hamriyah Free Zone
  • Sharjah Airport International Free Zone
  • Dubai World Central Free Zone

Interested to start a company in Dubai? We are always ready to assist you.

Contact us for more details: +971 4 221 2602

mm

Maricar Caluracan

Senior Business Advisor | E: m.caluracan@wincoreadvisory.com | M : +971 (0) 58 105 1553

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