Dubai Freezone Company Formation & Business Setup

Dubai Free Zone

DUBAI FREEZONE BUSINESS SETUP

Company Setup in Dubai Free Zone

If you are looking for the most profitable and money-making places in the world then Dubai is the most suitable choice. Yes, being located in the Middle East near Asia, Dubai is easily accessible to the investors and thus it has turned out to be the most suitable investment area over the past few years.

To ensure that the businesses are growing in Dubai, they offer free zones. These free zones come with all the facilities needed to grow your business. So if you are looking to set up your business and want to see it growing in no time then Dubai Free zone is a very good idea. Even large-scale businesses can invest in Dubai and double their profit.

Let’s dig more about what do you need to have if you want to set up your business in Dubai:

What are Free Zones?

Tax is a bitter reality that every business person knows and paying tax feels like a real pain. But setting up your company in the Dubai Free zone can make you enjoy all the luxuries without paying any tax. Yes! You read it right.

Free zones in Dubai are the actual trade areas or no-cost trade areas which allow the companies to work without paying any tax. These taxes include Income Tax, Value Added Tax (VAT), Corporate Tax, and other custom taxes. Not only that but a business person working in Dubai has the full authority of their business as well.

These free zones in Dubai are made to enhance the economic pursuits in the country. Not only that, these trade areas help in intensifying the foreign finances. Dubai has been the first emirate that originated the idea of free zones and offered benefits to the company owners.

List of Dubai Free Zones

The free zones in Dubai are numerous and each of them is specified to a particular industry or a sector. These free zones are 24 in number but come in three different categories. This is according to the official UAE Government. Let’s see what these are:

Dubai World Trade Central (Dubai South)

Jabel Ali Free Zone

IFZA (DSO)

Maydan Free Zone

DAFZA

Dubai Media City

Dubai World Trade Center Free Zone

Trakhees Free Zone

Features & Advantages

Advantages of Starting a Business in Free Zone, Dubai

The advantages are uncountable, let’s see some of these:

There is no restriction on having a local business partner as a shareholder of your business. So, you can say, you have all the ownership of your business.
The best advantage is that all the profit or the gain you earned can be resettled.
There’s nothing to pay as a tax, whether it is an income tax, VAT, or any custom tax. The business owner is just free from all the taxes.
The UAE government does not impose any restriction on your foreign currency changes and there’s not a certain limit fixed on you for the transfer of money to be followed.
You can have any kind of business in a free zone and no duty tax will be charged on it.
The requirement of energy in free zones is very cost-effective.
You can get your business license in just a few days and the procedure is very easy to follow.
The free zones are huge and the available facilities to set up your company are easy. Areas are available for both rent or on sale.
If you have a skillful staff and you want them to work in your Dubai company then you can easily apply for a visa for them. The visa for such staff is made very easy to receive and comes with the least cost.
You can set any of your choice specific timings. You can even operate the whole day. The UAE Government does not impose any restrictions on the time.

Ideabizone can help you very well in this regard. Let’s see what that is:

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Why Choose Idea Bizone?

Idea Zone helps in setting up your business in the UAE. They make the process fast, easy, and very effortless for a business owner. They do all the paperwork for the business owner and make sure that their client is not under stress and taking any pain. Their customer service is very quick and you can get help at any time.

Their services are not limited and cater to all the business incorporation services. While setting up a business in UAE, the person has a lot of things to ask, and Ideabizone guides very well and helps the person to reach a solution. Whether it is your registration process or licensing process, some professional help is needed or you are worried about your visa, Idea Zone is just there to help.

You can say, they help you grow in your business, from settling in UAE to getting to know everything about the business needs. Ideabizone possesses seven years of experience in this industry. They have helped in developing companies of almost all kinds, such as tourism, trade, real estate, construction, gold trade, diamond trade, restaurants, hotels, manufacturing, and supermarkets.

We recommend you give them a chance and see your business reaching sky height.

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Types of Licenses from UAE Free Zones

Remember when your company gets approved by the UAE and you are allowed to initiate your business in a free zone then the free zone authority issues you a license. The license can also be renewed as long as you are investing in the UAE.

Let’s see the type of licenses you can have according to your business nature.

Trade License

Any company located outside the UAE and doing import and export business are allowed to get a trade license.

Industrial License

If your business nature is of some industry and you are legally located outside the UAE and inside the Free zone then you can apply for this license.

Service License

If you have this license then you can do any banking or contracting service inside the free zone UAE. With this license, you have to follow all the government restrictions as well.

National Industrial License

Industrial manufacturers can have this license.

Let’s see how can you set up a business in a free zone:

Steps to Start Business in UAE

To set up a company in UAE and take advantage of all the facilities, free zones are providing, these steps need to be legally followed:

1. Find out the type of business, you want to initiate

While initiating your business in UAE, Freezone, one has to know about the type of business they want to establish. Remember, different free zones have different requirements so you must be clear about your type of business

2. Select a differentiating name for your business

To set up your company in the free zone, you must figure out a unique name for it. The government imposes some naming conventions and you must follow the government restrictions. The name of the business has to be registered with some government authority.

3. Apply for the business license

Once you are done with the name and the type of your business, you have to apply for a specific license. Keeping in view the above types of licenses, you need to pick the one that suits your business types.

4. Look for an area, where you want to have your office

The free zones are way huge and you can easily find a space for your office. You can get a space on rent or can buy on sale as well.

5. Receive all the approvals

The procedure of establishing a company in the UAE requires you to get multiple approvals from different government officials. Once you get all the approvals, you can get a license. After that, you can start your company and this process can be done in just 3 weeks.