About Free Zone in Dubai
There are around 40 Free Zones Company set-ups in the UAE. Each Free Zone Company is designed around one or more Business categories and only offers licenses to companies within those categories.
The main attraction of establishing a Company in one of the Free Zones is that the companies are governed by an independent Free Zone Authority (FZA), which is for issuing licenses and checks the activities of companies within the Free Zone.
The UAE is now a High-end business hub and is suitable for setting up a business or a representative office. The nature of the business activity that you are interested in will have a big influence on selecting the Free Zone to meet your requirements.
The Benefits of Setting up a Free Zone Company in Dubai are:
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100% foreign ownership of the company
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No personal income tax, as the UAE does not tax individuals on their income
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0% corporate tax on qualifying income for companies that meet the Qualifying Free Zone Person conditions; other income is taxed at the standard 9% rate
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Full repatriation of capital and profits
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No currency restrictions
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Exemption from customs duties on goods imported into and re-exported from the free zone
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Residence visas for owners and employees, who can then sponsor their families
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A simple setup process, with licensing handled by a single free zone authority
Requirements of Setting up a Free Zone in Dubai
The Business Investors can either register a new company in the form of a Free Zone Company (FZC) or Free Zone Establishment (FZE) – an FZE has one shareholder and an FZC has two or more. In order to set up a Free Zone Company, the following documentation is typically required to propose a new company (exact requirements vary by free zone):
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A completed application form with the proposed company name and business activity
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Passport copies of all shareholders, directors and the manager, with a UAE visa or Emirates ID copy for anyone already resident in the UAE
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Passport-size photographs of the shareholders and the manager
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For a corporate shareholder, the parent company's certificate of incorporation, memorandum and articles of association, and a board resolution approving the new company
Some of the Free Zones may request a detailed business plan, depending on the business activity of the proposed new company. Once a legal entity has been established in a Free Zone, the business will need to lease premises and acquire an operating license from the FZA. Companies with trade and industrial licenses conduct business within the Free Zone and internationally; to sell products directly on the UAE mainland, a free zone company generally needs a mainland distributor or a separate mainland licence or permit.
Get Connected with XIPHIAS Immigration if you’re interested in setting up a free zone company in Dubai as we have all the expert guidance to lead you to the best dream you are looking for.