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uae-freezone-business-setup

UAE FREE ZONE COMPANY SETUP

Company Formation In Free Zones Across United Arab Emirates

Dubai Freezone business setup

In the past two decades, Dubai has grown to become more renowned for its tourism and real estate sectors, but this wasn’t true two decades ago. The city’s diverse business model drives the economy and has made Dubai a global city and a significant business hub in the region. Free zones have been set up in the emirates in order to attract foreign investment and boost the economy by offering lucrative incentives to foreign entrepreneurs.

The Free Zone Authority handles registration formalities in Dubai and issues business licenses to non-resident companies or foreign-owned businesses for company formation in free zones. A Dubai free zone business setup offers endless opportunities for networking, collaboration, and substantial growth in the business. Dubai is the nation most preferred by investors for company formation due to its tax regime and numerous incentives offered by the free zone authorities.

Dubai-Freezone-business-setup

Benefits of Setting up a Business in Dubai Free Zone

With state-of-the-art infrastructure, duty exemptions, and top-notch amenities, free zones are the most ideal locations for setting up businesses. In addition to those factors, Dubai free zone companies offer many more benefits, such as:

  • 100% ownership to investors, regardless of nationality,
  • 100% tax exemption on personal or corporate income or gains
  • 100% repatriation of capital and profits
  • Exclusion from all import and export duties
  • Handy office and warehouse facilities
  • Option for a company set up by an individual
  • Exemption on corporate tax for 15 years, renewable for another 15 years
  • Complete secrecy of operations
  • Flexibility to engage in international business
  • Fewer renewal charges
  • Flexibility to hold properties, participate in multiple activities, and open a bank account in Dubai
  • The option of liquidating anytime
  • Assistance in housing facilities, staff visas, and other support services

Documents Required for Dubai Freezone Company Formation

For a business license:

  1. Colour copy of shareholder(s)’ passport and visa, if applicable
  2. Application form
  3. Business plan
  4. Board resolution
  5. Memorandum and Articles of Association (MAA)

For opening a bank account:

  1. A corporate account opening form
  2. A board of directors’ resolution sanctioning the opening of the account, and the signatories to the account
  3. A copy of your company’s certificate of incorporation
  4. A copy of your share certificate
  5. A copy of the company’s Memorandum and Articles of Association (MAA)
  6. Copies of passports for all partners in the company

Notes:

UAE’s free zones are extremely popular among entrepreneurs and business owners for setting up companies since they are tax-free zones with free trading ports that can be owned solely by the person setting it up (regardless of nationality). The formation of a company in the Dubai free zone does not require a local sponsor to act as a point of contact, which acts as a catalyst to increase foreign investment. Free trade zone company registration in Dubai is quite simple and requires only that the share capital arrangements are made before applying for a license

Flyingcolour® assists in all types of company registrations in United Arab Emirates. We assist in Mainland, Free zones or Offshore company registrations in all Emirates of UAE. We also assist in opening bank account with all local leading banks. We closely work with all Government Departments and banks.

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