Company Set Up in a UAE Free Zone

UAE Free Zones

UAE free zones are fascinating places for the new foreign investors who want to start a business with 100 % of its ownership. These zones offer 100% ownership along with zero taxes and many other benefits for the company owners. This makes free zones the most suitable location for international investors.
Hence, a Business SetUp in Freezone needs a license, and the FreezoneLicenses in UAE are allottedbased onthe particular trade activity of the company.This is where you can get professional assistance from MW Mideast. We help you establish FreezoneBusiness Setup in Dubaiwithout any hassle and quickly.
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Dubai Commercial License

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What Are Free Zones?

Free zones are important economic regions or places that issue and approve operating licenses for business formations, and they also give financial and tax exemptions. Overall, there are over 40 Free zones in the 7 Emirates of UAE.

The government body that is in charge of a Free zone is called the Free Zone Authority. Free Zone Authority(FZA) is the leading entity that keeps a check on the main and basic activities in connection with free zone operations and license issuance.

Key Reasons To Opt For Free Zone

Businesses related to the service industry perform better in city markets. Common examples include:

  • Retail stores
  • Eateries

Few of the locations in the trade zone may lead to costing you more than the renting space in the city market.

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Some Benefits Of UAE Free Zone Company Registration

  • 100% tax exemption
  • 3 years visas for the investors themselves along with their family and staff
  • Low cost for high-quality labor
  • More chances of growth due to ideal location
  • 100% ownership of the business
  • Separate and independent opening up of bank account and its safe working
  • Transport networks and roads are developed in a modern manner
  • Greater opportunities for import and export
  • Virtual office facilities are also available
  • Much fewer restrictions related to staff recruitment
  • 100% repatriation of capital and profits
  • Most significant quality infrastructure
  • Additional services,such as housing and sponsorship

In short, the free zone is an ideal space for any kind of local or international business. A Business Setup in Freezoneas the best of all regional distributions and is the center for all trading activities. With its fast-growing popularity, much of its business is also conducted outside UAE.

Types Of Free Zone Entities

There are two main types of free zone corporate entities:

  • Free zone Establishment (FZE)
  • Free Zone Company (FZC)

The significant difference between both companies lies in the number of shareholders requires.

  • Establishment: An establishment is a single shareholder either and that single shareholder can either be a single person or a company.
  • Company: A company is basically an LLC, and it requires two or more shareholders who give the same benefits.
  • Each of these free zone entities has to get registration in the companies of their own side of the business and each of them has a different cost, structure, goals, aims, and requirements.
  • Branch Office: It is another legal structure available in most free zones. A branch office is the one where the shareholder is the parent company registered outside the region of a free zone. It can either be outside UAE or outside the UAE-based company.
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Requirements For A Free zone Company Formation In UAE

Following are some key requirements you need to fulfill if you want to build a Free zone Company Setup in UAE.

Share Capital

The share capital of various free zones also varies from one another. Some free zone companies do not require any sort of capital, while there are others that require minimum capital.

Trading

Trading is freely allowed among all the free zones, and all the activities of import and export are carried out without any sort of tax.

Duty On Goods

Except for the free zone, it will be mandatory for you to pay a duty of 5% if you are setting up your business in UAE Mainland. Any sort of trade activity is only possible through some service agent or distributor.

Selection Of Appropriate Free Zone

A very important and main step while Free zone Company Formationis the selection of the right free zone according to your requirements. Few of these free zone companies support some particular type of business, but there are others that support businesses on a broad scale.

Rules And Regulations Of Free Zone

There are different free zones, and every free zone has its own rules and regulations for starting up a business. Documentation of different free zones can also be very different from each other depending upon the type of your business.

MW Mideast Services For UAE Free Zone

While Company Registration in UAE free zone,the MW Mideast’s support and guidance can help you to avoid the complexity of the procedure and can be time-saving. Services offered by MW Mideast are
  • Providing the best guidance and strategic ideals while selecting a suitable free zone company for you.
  • Help in preparing all sorts of documents and handling all of the paperwork.
  • We assist you in selecting the trade name for your company and further make its approval very easy for you.
  • Assistance in government approval.
  • Thorough guidance for bank account opening.
  • Our experts give you professional guidance regarding the registration process and its continuity.
  • We help you in making this process easy for you and reducing the time duration for this procedure.

If you are planning to Start a Business in Dubai or any other state ofthe UAE, you just need to seek advice only from an individual who works in the field of business, as during this difficult and complex process, you have to deal with legal issues and complicated norms.

MW Mideast consultants have always appeared to be the best while providing expert suggestions when it comes to Business Setup in Dubai, Abu Dhabi, or any other emirate of the UAE. Our highly professional business startup specialists give you all the support and services to help you with Company Formation in Dubai and all other services in this regard.

Benefits Of Your Business Setup In Dubai Free Zone

Some advantages of having a Business Setup in Free zone and how it operates are as under:
  • Ownership Of Business:

The most significant advantage of setting up a free zone company is that you can retain 100% ownership of your business without any local service agent.

  • Financial Benefits:

Some other financial benefits of a Free zone Company Formation are that it has a 0% corporate tax rate and 0% income tax rate. Also, there is no duty charged on imports and exports, and one can repatriate 100% capital and profit.

  • Business License:

A freezone company formation in UAE firstly requires the approval of a trading license. The license can be of three types:

Commercial License: This license covers all types of trading activities.

Industrial License: It covers all the manufacturing businesses and the companies that involve in the process of transforming raw materials or semi-formed materials into final products. It also involves the processing of goods, packaging of items, and in the end preparing them for sale.

Professional License: This type of license is given based onthe skills and expertise of either an individual or a company, and it covers the range of professional services, management opinions and ideas, and public relations.

  • Sector-Specific:

A very important factor that can provide great and strategic opportunities to free zone companies is that the UAE free zone companies are sector-specific. It provides the foreign investors and business owners to share and access the best of knowledge and expertise from other companies in the same field.

Frequently Asked Questions

1. What Is The Cost Of the UAE Free Zone License?

The type of free zone license has a direct implication on the total cost. It will be different based on types as Commercial, Industrial, service, and General Trading. You can get the free zone license in UAE for about AED 10K to 50K.

2. Do I Need To Reside In UAE For A Free Zone Company Registration?

No, it is not mandatory for the business owner of the foreign investor to live in the UAE as a Free Zone company that has 100% foreign ownership. But, at the same time, while setting up a free zone company, you must keep in mind that the general manager of the company is required to be a resident of the UAE.

3. What Is The Cost Of Commercial And Office Space In Free Zone Company?

While setting up a free zone company in UAE, you need to select from several office spaces, such as those that are Flexi-desk, fully furnished office, serviced office space, and much more. It is best to go for the commercial space based on your business type, trade activity, duration of the business, and similar other factors. It can cost you about AED 20K.

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