What Is Free Zone Company in Dubai

Step Four: License notification and opening a bank account. You will be notified once your license application has been approved so that you can collect your company`s documents and get to work. With these documents in hand, you can open your business bank account and start trading. The free zone you choose can usually help you find a suitable bank, just like a business start-up specialist. Alternatively, you are welcome to contact any financial institution yourself. Over the years, the UAE`s free trade zones have evolved to offer ever greater benefits to the businesses they contain. Many free zones cater to specific industries or types of businesses – for example, Dubai Healthcare City serves those in the healthcare sector, while the Jebel Ali Free Zone Authority is directly connected to the largest port in the region and is therefore preferred by import/export traders. The DCCA, now known as the Dubai Development Authority, imposes the development of creative and knowledge-based industries in the city. Free zones in Dubai under the DCCA include: There are currently 24 free zones in Dubai, each targeting specific sectors and industries.

They are divided into three main categories according to the official website of the UAE government and are as follows: Easy Setup: The process of setting up in most free zones is incredibly simple. The exact application process depends on your business activity and the chosen free zone, but in many cases you only need to provide a few basic documents such as passport copies and business documents. The whole process often takes only a week or two. Many free zones also offer flexi-desk and virtual packages that allow you to use the free zone address and facilities on an ad hoc basis. And that concludes our quick guide. As you can see, there are many free trade zones that will help you start a business in Dubai. With the 10-year residency law and changes to the UAE`s labor laws coming into effect in 2022, the time has come for foreign business owners to register and operate as a free zone company in the city. For more options, visit the Al Hamriya Free Trade Zone in Sharjah. A free zone company is more expensive than an offshore company and it usually takes 4 to 6 weeks to be established. However, it is an onshore company (with some offshore features). This type of business is ideal for market entry as it offers you a physical presence in the UAE through offices and visas without the need for a local sponsor.

A free zone company has offshore characteristics in that all business must be conducted abroad/internationally or within the free trade zone itself. I have never seen memes of employees so supportive in my experience, working with this company has been a well-informed experience, they give expert ideas. These free trade zones in Dubai deal with a variety of industries ranging from gold and jewellery to healthcare and manufacturing: investors can either register a new company in the form of a free zone establishment (FZE) or a free zone company (FZC) – an FZE has one shareholder and an FZC has two or more – or simply establish a branch or representative office of their existing company. or mother based in the United Arab Emirates or abroad. An FZE or FZC is a limited liability company subject to the rules and regulations of the free trade area in which it is established. The provisions of the United Arab Emirates Commercial Companies Act (CCL) do not apply. Foreign ownership: Another great advantage of setting up in a free zone is the ownership of foreign companies. Most foreign entrepreneurs who wish to settle on the UAE mainland need to work with a local partner to do business.

This is not the case in the UAE`s free trade zones – set up your business here and you will retain 100% ownership. It`s a good idea to work with a start-up specialist at this point, who can make sure everything is in place before submitting your application to avoid unnecessary delays. Dubai is one of the most lucrative and investor-friendly destinations in the Middle East. The proximity and easy access to Asia and other countries make it an ideal investment center. There are several free zones in Dubai that offer facilities for businesses to grow. As a result, Dubai has become a paradise for emerging start-ups and established multinationals. Let`s learn more about these free trade zones in Dubai and what they have to offer. Essentially, free zones or free zones in Dubai are business zones where companies operating there are exempt from all types of taxes such as value added tax (VAT), income tax, corporate tax and customs. Business owners in Dubai`s free zones are 100% owners of the business. The DMCC Authority was founded in 2002 and is the hub of global commodity trade.

Dubai Free Zones listed under DMCC include: Dubai Free Trade Zones offer exclusive packages to help business owners. The cost of starting a business in Dubai depends on several factors, but free zones cost much less. Contact companies such as Creative Zone, Start Any Business, Make My Firm and other start-up consultants in Dubai for help. Support and assistance: Free Trade Area authorities are available to offer support during construction and beyond. Most free zones provide visa application assistance to shareholders and all relevant dependents such as spouses or domestic workers. Many also help open corporate bank accounts, advise you on the best bank to meet your needs, and even arrange branch meetings for you. In terms of ongoing support for businesses, it is not uncommon for free trade zones to offer business advisory and networking services, as well as access to start-up centres and growth initiatives to help new businesses set up. I hired them to set up a company for myself in the Hamriya Free Zone and I am more than satisfied with their work. Rizmona needed very little time for this to happen for me. Their punctuality inspired me. The main difference between a "branch" and a "company" is the number of shareholders required. .

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