Free Zone Company Setup
Free Zone Company Setup:
Establishing a business in a free zone concern various factors such as type of business, nature of business, business size, location etc.
The UAE was the first country in the Middle East to establish the concept of the free zone in 1985, with the launch of Jebel Ali Free Zone Authority (JAFZA). The JAFZA success story became the foundation for several free zones across the country where each one would offer the various strategic benefits and business advantages to the newly established business set ups.
Free zones are collectively home to many individuals and institutions who have been successful at new business set up in UAE. Today, at most 50 free zones in the country catered to the specialised sectors such as trade, industry, renewable energy, exports and re-exports, media and media communications, metals and commodities, finance, healthcare, and Information and Communications Technology (ICT).
By incorporating the best trade principles and international best practices for free trade, free zones help to stimulate the trade and investment and facilitate the transfer of skills, knowledge and technology. People who are interested in Business setup services in Dubai, UAE Free, Zone stand to benefit in many ways, anywhere and everywhere in the country where it is allowable.
Authorities launched a 24-hour licensing service which enables new entrants to set up a business in the UAE almost instantly. Low-cost Business setup in Dubai’s free zones is simple, easy and quick.
The important feature of a free zone is that it makes it much easier for businesses to conduct business and carry out the business activities without any hindrances. The wide and varied choice of free zones comes with 100% foreign ownership, with no requirements for local sponsors or service agents. Business owners can also enjoy 100% repatriation of revenues and profits, and 100% transfer of funds when they start a business set up in free zones.
All corporate taxes as well as import and export taxes won’t be charged on the business set up exist in the free zone. It also provides an exemption from all personal taxes. Many of the larger free zones have their own laws and courts based on both English and common law, sitting alongside the country’s mainland business environment which has also modernised in recent years.
For foreigners and resident expatriates with an interest in setting up a business in the UAE (either a small office or full-scale operations), a free zone is the best and the surest route to success. Options in space, style, tenure, and budget are almost unlimited in the free zones. From individual freelance permits to international branch office licenses, they shared a desk space on a 1-year contract to industrial warehouse leasing for up to 25 years.
