In recent times, the UAE has become a major shopping hub where people from all over the world flock to trade. One of the things that has contributed to the rapid economic growth of the UAE is the formation of companies in its free zones and the flexibility of the laws followed by the country. It helps in organizing and managing businesses and makes the free zones the largest number of markets that everyone expects to go to. The free trade zones in Dubai and the UAE in general are not subject to the laws of the Department of Economy that govern the operations of companies, as the Dubai Free Trade Zone works to grant companies freedom of ownership, tax exemption, exemption from fees and the benefits in the free zones make it an ideal area and a prominent face for international companies that do a lot of business. It is also beneficial that opening and establishing a business in Dubai and in the free zone does not require a partner or sponsor who is a citizen of the United Arab Emirates.
جدول المحتوى
ToggleWhat is a free zone?
The term free zone varies in meaning and definition depending on the type of free zone, but most of the time the term free zone refers to a geographical area where goods are stored, stored, manufactured, marketed and re-exported according to a known and defined customs system, but are not subject to customs duties. Homework. Free zones are also facilities that are completely independent of the laws of the country, which are not subject to the commercial laws of the country and do not require a sponsor. A company based in a free zone can be owned by a person of another nationality without the need for a partner for UAE citizens.
Establishing a company in the free zone
UAE has more than 40 free zones in addition to a few built up areas. Therefore, starting a business in a free zone is one of the tough things for an investor as it is difficult to choose from many zones and hence our company due to its vast experience in corporate governance. It helps many investors to choose the right free zone for their business and helps to set up and establish a free zone company in the shortest possible time and at the lowest cost.
Establishing a company in the free zone
Starting a business in Dubai Free Trade Zone is much easier than opening a business in Dubai, as it can be 100% owned by any nationality and UAE nationals do not need any partner or sponsor as the company is registered as a corporation, a free zone company in the free zone, a branch of the Dubai Free Trade Zone Franca or a representative office. In this case, the main company can be outside the UAE and does not have to be inside the UAE. Companies in the free zone are regulated by the competent authority in the free zone, which issues company licenses. This depends on the location of the free zone and the activity derived from it. The type of license issued by the competent authority varies depending on the business activity. You can set up a company in the free zone by following a few steps, including:
- Agree on the trade name, as it is the name that distinguishes one company from another.
- Obtaining the company’s business license.
- Obtaining initial approval to start work.
- Commercial license registration.
- Complete and obtain the commercial license requirements.
Advantages of establishing a company in the Dubai Free Zone
There are many advantages that distinguish companies located in the free zone from other companies, including:
- A company in the free zone can be owned by a person, even a foreigner, at 100%.
- Ownership does not require a partner or sponsor from the Emirates.
- 100% capital and profits are recovered.
- Exemption from taxes and customs duties.
- Raising corporate and income tax costs.
- There are no restrictions or conditions on the use of different currencies.
Types of companies in the free zone
Dubai Free Zone offers different types of companies to be established in it, and each type has different advantages that suit your business. You can choose between:
- Free Zone Establishment
This is formed by a company or one person and requires a certain capital, the minimum of which is one thousand Emirati dirhams.
- A subsidiary of the company
Any foreign company can establish a branch in the free zone, and in this case, no capital is required.
Best company for company formation in free zone
Our company works to help clients establish companies in the free zone, as it is the first company that works to reduce the investor’s effort and save him time, helping him complete all the required tasks, starting from choosing the location necessary to establish the company until obtaining the commercial license, and all of this is done at the lowest cost. Our company always seeks to serve you, so do not hesitate to contact us to obtain many of the services provided by the company.