Cheapest company setup options in UAE
Posted: Jul 22, 2018
Company Setup in UAE
What makes Dubai a favorite place for the businessmen is the fact the government of UAE provides the best business setup facilities in UAE. The government even provides special economic zones known as free zones for the sole purpose of company formation. One can start a business in both mainland and free zones in UAE. It depends entirely on the type of your business activity and investment.
Setting up business in the mainland is not that cost-effective and you cannot 100% own your business. Even though there are many advantages in starting a business in the mainland, like no limit on number of visas, more business activities available for licensing, and no business or personal taxes, it is not feasible. The best and cheapest business formation can be done only through free zones.
Cheapest Company Setup in UAE: Free Zones
The cheapest means of the company set up in UAE will be free zones. There are more than 40 free zones in UAE. Free Zones allows you to have 100% ownership of your business. It is a designated geographical area where certain taxes or restrictions on business, employment or trade do not apply in the same manner that they apply to the country in which the zone is located. These Free Zones are often organized around major seaports, international airports, and national frontiers- areas with many geographic advantages for trade.
Benefits of setting up a business in the Free zone is that you get 100% import and export tax exemptions and repatriation of capital and profits. There are no corporate tax, personal income tax, import/export tax in Free Zones. Setting up a business in the Free Zone is easy and it also offers hassle-free licensing procedures.
Cheapest Company Setup in UAE: Offshore Company Formation
Another way for the cheapest company set up in Dubai would be offshore company formation. An offshore company is basically an overseas company. You don’t need a minimum capital requirement to set up an offshore company in UAE. The process for offshore company formation is simple and completed very fast. There are many advantages in setting up an offshore company formation. You have the freedom to trade internationally. Even though you cannot have a physical office in UAE, you can have a bank account in UAE if you want.
Thus, UAE government allows you to set up your dream business by providing cheapest company setup facilities in UAE. You can set up your business with minimal capital.
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Business setup is a group, have been helping people across Uae in terms of improving business and setting up a businesses.