Free zones in UAE
The United Arab Emirates (UAE) is a popular choice for business owners and entrepreneurs. The country has a diverse and well-trained workforce, predictable government policies, and an openness to new ideas. The United Arab Emirates (UAE) has a robust economy and an abundance of natural resources, making it an appealing location for business incorporation, especially through a free zones in UAE
Setting a business in a free zone is advantageous for firms in certain sectors. These free zones are advantageous because they are not subject to the same taxes, employment regulations, or import/export quotas as the rest of the country. This is why setting up shop in a free zone is so attractive to international investors. More than 45 free zones exist in the United Arab Emirates, with about 30 of those in Dubai alone.
Business circumstances, office needs, immigration laws, and investment criteria are all relevant in the United Arab Emirates (UAE) when establishing a company in a free zone. Choosing a free zone that actively encourages economic growth to register your company in is essential.
Here are the measures to take to start up a company in a free zone in the United Arab Emirates
- Determine the kind of your business and the sort of license you’ll need; each of Dubai’s free zones has its own set of requirements when it comes to starting a company.
- Select a free zone after learning the laws governing them and the kinds of commerce that can be conducted there.
- Decide on a business structure, such as sole proprietorship, shareholder-owned subsidiary, limited liability corporation (LLC), or overseas subsidiary.
- Decide on a Trade Name and File the Necessary Paperwork Choose a distinct trade name. You’ll need to provide copies of your passport, Emirates ID, No Objection Certificate (if you’re a UAE resident), evidence of residency, and permission paperwork for your company’s intended name, activities, and structure.
- After getting initial clearance, sign legal documents for company incorporation by scheduling a meeting with the free zone representative. Having a power of attorney and other documents notarized can sometimes eliminate the need for a personal appearance.
- Find a commercial property within the selected free zone to set up business in before moving on to the last step. Make a choice and commit to a lease in order to acquire the Ejari certificate.
- After registering the appropriate documents and receiving the necessary approvals, the free zone will provide your business license and corporation documents, which you may then collect.
Every permit is valid for a single year and needs to be renewed every 12 months.
Business setup in a UAE free zone has many advantages
- You have complete control over your company
- There will be no company or income tax, and the renewal fees will be reduced.
- There is always the option to sell the company, and there are little regulations on hiring new employees.
- Flexible, state-of-the-art, and available around-the-clock operation