How to set up a business in uae free zone

Dubai is the ultimate destination of businessmen. Dubai has evolved in many ways in the last 15 years. It has now become a global city – the city of the future. The tax-free and friendly visa regime makes Dubai a better place for setup business. Because of this reasons, Dubai attracts a lot of foreign investors. One can set up a company in the mainland and as well as in Free Zones. Free Zones are special economic zones for business operations.

Benefits of having a business set up in UAE Free Zone

There are more than 35 free zones in Dubai which provide all facilities for setting up a business. Each free zone in Dubai has its own authority and rules. These rules are applicable to all investors. What makes business setup in Dubai free zone a better option for foreign investors?

• 100% ownership

Free Zone gives 100 % ownership for all nationalities. Unlike setting up a business in the mainland, the free zone does not require a local sponsor or local service agent.

• Easy process

The startup process in the free zone is much easier compared to the mainland. The easier labor and immigration procedures encourage more foreign investment.

• Tax-free

There is an exemption from personal taxes as well as import and export taxes. There is a repatriation of capital and profits.

• Easy availability of other facilities

In free zone, there is easy availability of housing, immigration, labor and other facilities.

• Lease option

Free Zone provides long-term leasing options

These features make Free Zones one of the most favorable places for international business operations.

How to have a business set up in Dubai Free Zone

There are more than 35 Free Zones in Dubai. One should choose the Free Zone based on the type of business activity they are involved in. There are 5 steps to start up a business in UAE Free Zones. They are:

• Determine the type of legal entity

One can start two types of business in Dubai free zone. They are Free Zone Company [FZC] and Free Zone Establishment [FZE]. Each free zone has its own authority and rules and investors has to follow those rules. Existing local and foreign companies can set up a branch in Free Zone.

• Choosing a trade name

After deciding the legal entity, one should choose a trade name and register it.

• Business License

After that, an investor should apply for a business license. It depends on the nature of the business activity. Each free zone has its own type of licenses.

• Choosing Office space

In Free Zones, there is an option for buy or lease office spaces. Free Zone provides long-term leasing options for investors

• Registration

Each free zone in Dubai has its own authority and rules. Investors should provide all documents for initial approval and after that should provide registration fees and license fees.

After these process, one can operate their business. The easy-going and hassle-free requirements make Free Zone a favorite among the investors. There are many business setup services in Dubai that helps investors in handling the company formation without much difficulty.

Business setup is a group, have been helping people across Uae in terms of improving business and setting up a businesses.