Business Setup in ‘Dubai’Ayush Khetrapal
When we talk about UAE, Dubai is the only place that comes to our mind. The infrastructure/ the business growth opportunities are in abundance in Dubai. But sadly most of us are not aware of the Government Policies, the Free-zone concept and the in numerous advantages that our offered in the free zones in the UAE. Company setup in Dubai remains the number one searched keyword – while searching for business expansion opportunities in the UAE.
- Understanding UAE Free-zones:
“Free zones are geographically demarcated areas within the UAE permitting 100% foreign ownership and are in most cases, dedicated to a specific industry.”
This means that different Free zones are suited to different business needs, and one must appoint a professional to help them understand which free zone advantages will benefit their business the most.
With more than 45 different free zones across the UAE and with many more under development, free zones have helped make the UAE an attractive option for foreign businesses looking to relocate or expand their global footprint.
- Advantages of the UAE Free zone
Each free zone has its own authority and its own rules, which are applicable to investors looking to set up firm in those zones.
- Allows 100 per cent foreign national ownership of firm with no requirement of local sponsor or local service agent.
- Waiver of corporate taxes (time-bound and renewable for further periods).
- Exemption from personal taxes as well as import and export taxes.
- 100 per cent repatriation of revenue and profits.
- Documentation is less and more suited to foreign investors.
- Long-term leasing options (up to 25 years) available at great terms to investors.
- Recruitment and workforce processes are simplified, faster and cheaper.
- Easy availability of legal, housing, immigration, labour and other facilities.
- Incorporation is faster than when done outside free zones
- 100 per cent free transfer of funds
Although these advantages apply to all the Free zones in the UAE, it is important that advantages related to specific Business activity be searched for before taking a decision in this regard.
Specific Free zones are cheaper than others and give specific advantages over other Free zones. To understand this better, we need to dive in deeper in this subject and compare different Free zones and their offerings.
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