Dubai is now widely considered the world’s premier business destination for start-ups, investors, entrepreneurs, and corporations. Central to this transformation is the Emirati government’s steadfast commitment to introducing and developing UAE free zones.
The UAE hosts over 40 multidisciplinary Free Zones. These Free Zones cater to the diverse requirements of every sector, ranging from corporate services and creative design to IT and Software, commodity trading, and beyond. The UAE Free Zones provide a wealth of opportunities for entrepreneurs, investors, and businesses seeking to establish or expand their operations in the region.
Unlike mainland areas, free zones are independent business zones typically situated near a port or business hub. Each free zone operates under separate legislation from the government rules and regulations that govern onshore or mainland companies in the UAE. As a result, each UAE free zone has a distinct free zone authority, each focusing on a specific sector or industry.
The establishment of free zones in the UAE was a strategic decision by the authorities aimed at promoting the country’s economic growth. Free zones provide numerous incentives for business setup within their respective sectors, effectively attracting foreign companies to operate in the UAE.
With its strategic location, business-friendly environment, and comprehensive infrastructure, the UAE stands as an ideal jurisdiction for businesses in Dubai and the broader Middle East region.
UAE Free Zones emerge as the perfect platform for businesses to achieve growth and success in a competitive market, making an excellent addition to your jurisdiction portfolio.
Apart from the economic benefits, free zones offer a nurturing environment that encourages innovation and facilitates networking within a varied community of professionals who share similar goals. Whether you’re a startup, a small or medium-sized enterprise (SME), or a multinational corporation, leveraging the strategic advantages of a free zone can synergize with and enhance your business objectives. Choosing a free zone can be a wise decision for those looking to explore and capitalize on new markets and opportunities.
While each specific free zone in the UAE has its unique set of advantages, they all share the common feature of enabling companies to do business seamlessly across borders. In addition to this undeniable advantage, investors and entrepreneurs benefit from the following four key advantages:
In addition to the core benefits, free zones go the extra mile by providing registered companies with everything they need to elevate their business to international success. This includes:
Before establishing a UAE Freezone company, several crucial considerations should be taken into account.
These considerations collectively make the Freezone setup an attractive option for entrepreneurs seeking a conducive business environment in the region.
Entrust your business set-up to Octa Consult and capitalize on our expertise in the intricacies of each and every free zone in the UAE. We will conduct a comprehensive analysis of your business requirements and identify the best free zone for your company. Our aim is to strike the right balance between access to local markets and tax efficiency, ensuring that your business is set up for success in the UAE.
In the UAE, you have a wide range of business activities to choose from. Some activities may require additional approvals or licenses, depending on their nature. It’s common for companies to select multiple activities under one license.
The UAE has specific rules regarding company names. Avoid Country or City Names, religious references, and names similar known organizations.
The standard documents usually required include shareholder passport copies, contact information, and sometimes a business plan.
If an office space is not a requirements for your business, the Free zone authorities often provide flex-desk office services to support start-ups. If office space is a requirement, you can either buy or lease office spaces in free zones. Office requirements depend on the number of employees and the type of business activity of your company.
The final step involves immigration and visa processing, which Octa Consult, as a company setup specialist, will manage. There are different types of visas available (e.g., investor visa, employee visa) and note that the number of visas you can apply for may depend on factors like the size of your office space. Octa Consult will conveniently liaise with the right government departments and authorities to expedite your visa approval.
After receiving your business license, collect your corporate documents and receive your Emirates ID and Residency, we can proceed to open a corporate bank account. Different banks will have varying requirements for opening corporate accounts. We understand that Corporate Banking is an imperative part of business operation, which is why we will assist with the corporate bank account process on your behalf.
Once you have your license, visa, and corporate bank account, there will be additional needs for your business to operate efficiently and lawfully. Octa Consult will assist you with ongoing support for any license upgrades, additional visa requirements, accounting and bookkeeping, tax requirements, office upgrades, relocation assistance, and more.
Trading within the UAE is not allowed for companies in Dubai’s free zones. But, if they want to do business outside these zones, they must appoint local distributors. All companies registered in the mainland can operate anywhere in the UAE.
The process includes
1. Finalize the business activity and name for your business
2. Gather all the documents
3. Get your license
4. Avail added services like visa, office space, etc
5. Open a bank account
Registering a company in Dubai has many perks. Some of them are 100% foreign ownership, tax exemptions, and the ability to repatriate profits. You can also enjoy the perks of having a strategic location for business expansion, smooth processes, and access to modern infrastructure.
Trading, Service, General trading, Industrial license.
It usually takes 1-2 weeks. The time needed can change based on the chosen free zone or Mainland setup, business type, approvals needed, document completion, and more.
Yes, it is possible. However, it is a tedious and tiresome process. Octa Consult can effectively incorporate your business in no time.
No, foreigners can benefit from 100% ownership in UAE
The cost of setting up a business in both areas is based on many factors. It includes license fees, office space, government charges, and visas. Your business activities and company size also affect costs.
Free zones don’t have to pay customs taxes, they offer smooth and organized import/export processes for goods and services.
Yes. A company developed in a free zone will require to register and file a corporate tax return in UAE.
Get in touch with us today to assist in helping you pave the way for your new business journey.
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