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BUSINESS SETUP IN DUBAI FREE ZONE
WHAT IS FREE ZONE IN DUBAI?
WHY TO CHOOSE FREE ZONE FOR BUSINESS SETUP
A free zone is a segment of clearly defined and isolated land or
The main idea of establishing free zones in the UAE was for them
setting, with a special tax, customs and imports regime, that is
to serve as a central business hub for companies willing to conduct
different from the mainland area (country) usually involving a
business with the outer world, not specifically in the UAE.
status of extra-territoriality. Free Zones are planned for boosting
Therefore, UAE free zone companies are intended to operate within
international businesses through providing 100% ownership to
the corresponding free zone as a hub for the worldwide operations
expatriates and single window administration convenience. In UAE,
and are not licensed to operate within the rest of the UAE. As a
free zones are either attached to ports or industry specific.
result most of the free zone companies during the initial days were engaged in import and re-export activities. But today, a large majority of such free zone companies do business with their clients in UAE and GCC through their local distributors.
HOW TO BUSINESS SETUP IN DUBAI FREE ZONE? The main idea of establishing free zones in the UAE was for them to serve as a central business hub for companies willing to conduct business with the outer world, not specifically in the UAE. Therefore, UAE free zone companies are intended to operate within the corresponding free zone as a hub for the worldwide operations and are not licensed to operate within the rest of the UAE. As a result most of the free zone companies during the initial days were engaged in import and re-export activities. But today, a large majority of such free zone companies do business with their clients in UAE and GCC through their local distributors.
Each free zone in UAE has its own set of laws. However, most of the businesses in the Free Zones fall under the following broad categories based on their business activities. Branch of a foreign company (outside of the UAE) or a branch of an offshore company (subject to approval of the free zone authority) Free Zone Establishment/Company (FZE/FZC/FZ LLC) FZE or FZC are limited liability entities owned by an individual or corporate entity. There are slight differences between the entities. For example, Free Zone Establishment has only one single shareholder. Free Zone Company or FZ LLC can have 2 or more shareholders
Dubai over the last few decades has become the preferred choice for
We know reading the easy steps to establish your business
businesses to grow or expand their business. Not just the already
in Dubai you are excited to start the journey. But before you
established organisations, but also new entrepreneurs prefer Dubai to start
do that let us share a few other benefits apart from the one,
their new ventures! The reason for this growing popularity is:
we shared above of easy and minimal steps to business setup in Dubai free zone.
Location Culture
100% foreign ownership.
Economic policies
100% tax-free and 100% repatriation of the profit
Ease to operate and start a business
earned – i.e., you can transfer or send the whole
Choice to select the best type of economic zone to give you
profits earned to your parent company.
maximum benefits
For all those businesses who need to transfer funds to say vendors or the parent company – there is no limit
If you are a newcomer to the world of Dubai, by the time you have read
on funds transfer and no control over foreign
this article, you would be aware of the benefits and steps to start your
currency exchange.
business in Dubai; especially in Dubai Free Zone – the most preferred
Zero duties are levied on any kind of goods.
economic zone.
Easy procedure while applying for a business license. Ample office spaces are available both for sale and
A free zone is an economic zone or jurisdiction that is identified to
rent.
exchange goods and services with superior import and export customs
Application for visas for skilled workers is easy and
and other operational benefits.
affordable. No timing restrictions – your business can operate the offices 24*7
Below are some of the common documents required across the different types of free zones to set up a business in Dubai or the UAE.
RIC
Passport Copies
CV
License
The Registry Identification Code Form
Copies of business partners’ passports
CV (curriculum vitae) (summary of
Application license form.
(RIC) and the business plan (original
and color pictures
professional history)
and notarized)
RIC
Plan Layout
Plan Outlay
Banking
Business Card
Business Plan Layout
Business Plan Outlay
Banking reference and license of the partner’s existing business if required.