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Dubai Free Zone are unique economic areas where foreign investors can tap into business opportunities in Dubai. Moreover, these areas provide foreigners with the power to establish a company in the UAE.
Apart from Business Setup in Dubai Free Zone, there are countless advantages, like 100% ownership, tax incentives, customs privileges, and simplified administrative procedures. that you may obtain by setting up a business in Dubai, UAE: Because, these Dubai Free Zone cater to a wide range of industries, from eCommerce and logistics to technology and manufacturing,
When it comes to setting up a company in the Dubai free zone, there are more than 30 free zones where you can start your business in Dubai, UAE. So below is the list of the most popular and best Dubai Free Zones:
Jebel Ali Free Zone : This free zone is a free economic zone that is located in the Jebel Area area at the far western end of Dubai, United Arab Emirates, near Abu Dhabi. Therefore, the zone is the flagship free zone of DP World. In addition, this zone is an integral part of DP World UAE’s integrated business hub.
Dubai Multi Commodity Center (DMCC) : Dubai Multi Commodities Centre is the UAE’s largest free zone that is situated in the Jumeirah Lake Towers district of Dubai. Created in 2002, it is a commodities exchange that deals in four main industries: precious commodities; energy; steel, and metals, along with agricultural commodities.
Dubai Airport Free Zone : This free zone, additionally popular as the DAFZ free zone, is a designated free economic zone in Dubai, United Arab Emirates. Additionally, the free zones provide foreigners with company formation and business setup services in Dubai. Moreover, Dubai Airport Free Zone is a hub of over 2,000 registered businesses from 20+ sectors and uncountable industries, with 20,000+ professionals.
Foreign Direct Investment (FDI) UAE government passed foreign direct investment (FDI) law in 2018 to stimulate investment. Those changes will not only make it easier for businesses to set up shop here, but will make things so much easier for those businesses that already do so. The law allows foreign companies to own up to a 100% share of their companies, among other provisions to benefit foreign investors.
Dubai International Finance Center (DIFC) : Dubai International Finance Centre serves as a unique economic zone in Dubai and covers 272 acres of land in Dubai. Moreover, in 2004, Dubai created the free zone as a financial hub to cater to companies operating in the Middle East, Africa, and South Asia (MEASA) markets. Moreover, the free zone houses financial institutions, wealth funds, and retail and hotel space dedicated to the free zone.
Select the right free zone with Flyingcolour.
Determine the type of your business.
Select the business name.
Apply with the required documents.
Determine the legal structure of your company (and meet the minimum share capital requirements, if needed).
Submit the initial approval application.
Sign the lease agreement for your office or warehouse space under the free zone.
So once you submit your application, you will obtain the license to a company setup in Dubai in the Dubai free zone.
If you plan to operate your business in a dynamic city with business entrepreneurs from all around the world, the Dubai free zone can be the right choice for this. Moreover, these free zones offer you 100% ownership of your enterprise, negating the need to hire a local sponsor. Additionally, the benefits of no tax on personal and corporate income allow you to earn higher revenue with a chance to expand your business activity. Therefore, you can get a registration and license for your company in easy steps without any delay. Moreover, you have everything needed for your business, from a skilled workforce to modern office space, which leaves no chance to lessen your enthusiasm. You have every opportunity to thrive and expand your network in Dubai’s free zones.
Business activities play a significant role in entering a market or any location. Suppose you have chosen a specific location, but to your dismay, it doesn’t align with your business objectives, which in turn will be a big risk. You can only choose the right free zone if you already have a plan set up for your business, including listed business activities and types of business. Therefore, you can manage to have a strong base in Dubai’s free zone for diverse clients. Additionally, in the Dubai free zone, you can collaborate with different organizations that serve the same purpose. Suppose you are running an e-commerce business. For this, you will need the delivery services of a logistics firm. Therefore, come up with the right choice of activity for your business to further expand your business operations.
Deciding on the right type of business activity from the start is of great importance. While this may seem like a daunting task, it is very significant to determine one so that you have a trade license according to that. Moreover, the benefit of multiple activities in each free zone attracts more entrepreneurs.
Choose a suitable free zone location for your free zone company that should fulfill your business needs overall. Suppose you have an export and import business, then a location that has the connectivity of airports, seaports, and express roads will be ideal for your business. Moreover, locations like JAFZA can also be the right choice for export and import businesses. Why is this important? Because it determines whether or not your employees, clients, and customers have easy access to your business.
While each free zone has different kinds of facilities, it is still up to you what type of facility you are looking for. Choose the facility that is capable of fulfilling your business needs. Also, check the budget it will set for your business. For your start-ups business, choose the best free zone which provides the facilities of well-established office space, hotels, and racecourses.
Calculate the overall cost and investment you are going to put in your business setup in Dubai free zone. Determine the cost of share capital, and if you don’t intend to deposit share capital, then choose a free zone such as IFZA that comes with zero paid-up capital. Additionally, your overall cost will be influenced by factors like the number of visas and the facility you have chosen to operate the business.
Flyingcolour Business Setup provides you with excellent business setup services. In addition to this, experts can help you choose the right Free Zone in Dubai. Because we can help you at every stage of business setup in Dubai free zone.
There are so many Dubai free zones, but the following are widely used and very popular free zones.
Free trade zones in Dubai are specified economic zones that strive to offer expatriates special concessions and customs duties. Moreover, a free zone company in Dubai allows companies full ownership without forming a partnership between registered agents and sponsors.
Some of the recognized free zones you may consider while setting up a Dubai-free zone company include Jebel Ali Free Zone (JAFZA), Dubai International Financial Centre ( DIFC), Dubai Internet City, and DMCC.
Financial credibility for your business solely depends on Free Zone’s reputation with the local bank. Because if you are planning to set up a business that is well established and has a good relationship with banks, you will certainly have a good reputation. So for considering this fact, you must consider adequate guidance from a consulting firm that will take you through free zone experience with financing and relations with local banks.
The cost of setting up a business in the Dubai free zone differs because it involves several factors in the company formation process. That includes the cost of the license, office rental space, registration fees, visas for employees, and other miscellaneous expenses that include permits or approval fees. In addition to this, all costs are defined based on the type of business, size of business, and specific location of the business you have chosen to operate.
Yes, this is possibly the greatest advantage that inclines many new business owners to form their free zone companies in Dubai. Because it allows entrepreneurs the leverage of having full ownership of their company. This further implies that they can enjoy full autonomy in their business activities, which include business operations and decision-making.