If you plan to start a Free Zone company in Dubai UAE, you are on the right track. A significant advantage was that 80 percent of the UAE population was expatriates. To scale up foreign investment, the UAE government set up special zones, making doing business easier.
A free trade zone, another name for a free zone, is a special economic zone that gives many advantages to businesses, including tax exemptions and concessions in regulatory fees. Free zone jurisdictions have their regulations and have a government regulatory body called the Free Zone Authority.
A free zone company can be LLC which is allowed only in a special jurisdiction under a particular Emirate. Companies registered in free zones are considered offshore companies. They are exempt from dealing with customs authorities and the ministry of economy. They only have to deal with the authorities responsible for a specific free zone. A foreign investor can also have 100 percent ownership in companies here. A free zone company can operate only within the free zone and not in the Mainland.
Types of Free Zones in UAE
Presently, there are 45 free zones in the UAE spread across all the emirates. Some of them are
Apart from the above, there are many more free zones in other emirates like Ras al Khaimah, Ajman, and Umm Al Quwain.
How to go ahead and set up a Free Zone Company?
To set up a business in a free zone an investor is required to do the following:
About Absher Business consultancy
With Dubai offering the maximum number of Free zones, it would be good to hire a business consultant like Absher Business consultancy. We are one of the best Business Setup companies in UAE. We know the legal and statutory rules and regulations required to set up a company in a Free zone. We can also guide in which business segment one should venture out. We ensure documentation, getting necessary approvals, helping in identifying office space, getting workforce visas.