Located along the coast of the Arabian Gulf, Dubai was earlier renowned largely for its oil industry, but the scenario has changed in the last 2 decades. Dubai is now a global city and a popular business hub at par with western nations, due to its diverse business model that drives the economy in the region. In order to attract foreign investment and empower the economy, free zones have been set up in Dubai that reward foreign nationals with lucrative incentives for setting up their business in the Emirates.
The Free Zone Authority in Dubai is the government organization that handles registration formalities and issues business licenses to non-resident companies or foreign-owned businesses for company formation in Dubai free zones. Business setup in Dubai free zone brings a sea of opportunities for networking, collaborating and extensive growth in the business. The appealing tax regime and many incentives offered by the free zone authorities make Dubai the most preferred nation by an investor for company formation.
Free zones are the most favourable locations for business setup equipped with state-of-the-art infrastructure, duty and tax exemptions, world-class business amenities, flexible government policies, and unmatched facilities.
These are not the only factors that drive Dubai free zone company formation; there are many more benefits of forming a Dubai free zone company, like:
It is important to be aware of the various incentives that free zones in Dubai provide for license holders like Dubai Airport Free zone is allowing a dual license for its investors. The following licenses are offered by free zone authorities for Dubai free zone company setup:
This type of license, if acquired, allows one to carry out trading activities like buying, import & export, and selling of a limited number of commodities.
One can deal with the trading of all types of goods, with an exemption on a few banned products which need special approval with this license.
Companies that want to deal with activities like consulting, accountancy, etc. can acquire this license.
A company can carry out manufacturing, packaging and processing activities after obtaining this license.
This type of company can be registered with 1 individual or corporate shareholder.
This type of company can be registered with 2 or more shareholders. A shareholder can be an individual or a company.
A business that has a company in the UAE or a foreign land can have a branch in one of the free zones of Dubai.
Dubai offers rewarding options for company formation to investors, to set up their business anywhere in the Emirates depending on the type of their business, location (free zones, mainland or offshore), budget, ownership preferences (100% ownership or local sponsorship), and other such factors. There are certain formalities and procedures to be completed in order to set up a business in Dubai free zones. These need acute planning, knowledge of local culture and government norms, and elaborate decision-making, through different business setup phases.
There are 6 simple steps included in the Dubai freezone company setup.
It is not easy to tally the total cost of Dubai free zone company formation as the final figure is made up of several components. Along with the cost of the free zone license itself, one also needs to consider the cost of premises if required as well as visa costs.
It is possible to pay all of these costs at once, however. Most Dubai free zones offer packages that include a trade license, the use of workspace and one or more visas for you and your employees. A company formation expert can help you in your search, understanding your needs and your budget before finding a package that fits the bill.
Dubai's free zones are extremely popular among entrepreneurs and business owners for company setup due to their reputation of being tax-free zones with free trading ports that can be solely owned by the person who sets it up (irrespective of the nationality). Additionally, Dubai free zone company formation does not have a restriction that mandates the presence of a local sponsor to act as a point of liaison, which acts as a catalyst for increased foreign investment. Dubai free trade zone company registration process is quite smooth and requires only that the share capital arrangements are made prior to applying for a license.
Freedom of doing business, huge tax savings, and favourable government policies lead investors and businessmen to set up their operations in Dubai free trade zones. Xcellence has the experience and resources to help you realize your company setup dreams without worrying about the red tape, visa applications, documentation, and licensing formalities, residence permits, banking details, etc., as our experts take care of all these requirements.