What Are the Benefits of Setting Up Your Business in UAE Free Zone?

If you are planning to expand your business globally then no destination is better than the United Arab Emirate (UAE). This country itself is at the forefront of innovation and modernity. USE is also known as one of the wealthiest states across the world. Business setup in UAE can help you get many benefits. Basically, the UAE comprises seven emirates including Dubai, Ras al-Khaimah, Umm al-Quwain, Fujairah, Abu Dhabi, Sharjah, and Ajman. The surprising part is that more than 9.5 million people live in Abu Dhabi and Dubai.

Undeniably, the rapid transformation of the UAE has made this country the best destination for businesses. Want to start a business in UAE? Well, you should choose free zones to establish your dream business in UAE.

Wondering, what are the free zones in the UAE?

Basically, these are special economic jurisdictions that issue operating licenses for tax exclusions, business establishments, and grant finance. In simple terms, Free Zone is a Free Trade Zone where goods are traded at a very low custom rate. Totally, there are more than 40 Free zones in the 7 emirates of the United Arab Emirates or UAE. An investor is allowed to form three types of business entities including Free zone establishment (FZE), Branch of a business concern, and Free zone company (FZC). There are 45 Free Zones in the United Arab Emirates or UAE. These Free Zones help businesses in diverse business operations. So, if you want to set up your business in UAE then you should choose Free Zones.

Let’s five into some of the benefits of setting up a free zone company in the United Arab Emirate or UAE:

Complete Foreign Ownership

One of the biggest benefits of forming a free zone company in the UAE is that you will get complete foreign ownership of your business. Isn’t it great? Complete foreign ownership means that you don’t need to find a UAE national sponsor for your business.

Import and Export Duty Exemption

The best part of forming a free zone company in the UAE is that you don’t need to pay any import or export duties. This helps you to be a part of international trade.

Absence of Currency Regulations

In many countries, currency-related restrictions and regulations have been imposed by the government. Well, in free zones, you don’t need to worry about currency regulations. This will help you process the financial transactions easier.

Repatriation Benefits

In free zones, all the companies are eligible for repatriation benefits. Repatriation benefits include financial assets.

Tax Benefits

This is one of the biggest advantages of setting up a business in the UAE. The government of UAE provides 100 percent tax exclusion for all companies formed in free zones. This includes corporate as well as income tax.

Trouble-Free Immigration Procedures

Immigration procedures have always been a tough task for all business owners. Well, establishing your business in free zones can help you make your immigration procedure trouble-free and saves your time.

Milestone is a smart project management consultancy firm that provides intelligent business setup solutions all across the United Arab Emirates.