UAE Freezone Company Formation
Unique advantages of UAE free zone company formation
UAE Free Trade Zones (FTZ) are determined geographical areas where UAE mainland taxes, employment, and import-export restrictions on business don't apply, as well as lowered bureaucratic requirements, making them the desired destination for foreign investors.
Starting a business in one of the UAE's Free Trade Zones can be a lucrative option for foreign investors. However, choosing the right Free Zone for your business requires in-depth market knowledge.
With over 45 free zones in the UAE, our team can recommend the ideal Free Zone based on your business conditions, visa and office requirements, and investment budget. Business Setup Experts at My Business Consulting Centriz always carefully consider all factors to recommend the best place to register your business in the UAE to enable its economic growth. Contact us today for insightful advice on company formation in UAE Free Zones.
Benefits Of Business Setup in UAE Free Zones
- 100 % foreign ownership of the enterprise
- You can open a bank account in Dubai
- 100% Secrecy maintained
- No personal income and corporate taxes
- Fewer renewal charges
- Hassle-free employee recruitment formalities
- Enjoy Logistic advantages
- Free zone entities are devoid of export and import charges.
- 100 % repatriation of capital and profits
- Very few restrictions on recruiting labor
How to initiate a free zone business setup in UAE?
To initiate a free zone business setup in the UAE, follow these steps:
Choose your business type and required license:Each free zone in Dubai has its rules for business activities and license types. You cannot mix commercial and service activities; it's a general rule for all free zones. Get the license according to your business activity!
Select a free zone:When setting up a free zone business in Dubai, you must clearly understand the free zones and the business activities permitted in each free zone. Consult with a professional to select the most suitable free zone.
Choose your Corporate structure:Decide on your company's corporate structure, which can be an individual company, a subsidiary with shareholders, a joint venture, an LLC, or a branch of a foreign company.
Choose your trade name and prepare documents:Select a trading name for your company and prepare a list of documents required by the chosen free zone. The standard list of documents includes a copy of passport, EID, NOC if UAE resident, residential proof, and initial approval.
Initial Approval
Get initial approval for the company name, business activity, and proposed company structure.
Sign legal documents for company incorporation:After getting initial approval, a meeting will be arranged with the free zone representative. This can be avoided when you provide the power of attorney and notarized documents to the representative.
Find a business location:Find a commercial property within the free zone to proceed with the final stage. Choose a suitable option and sign a tenancy contract to obtain the Ejari certificate.
Collect the business license:Once you have registered all the documents and obtained all the necessary approvals, the license will be issued along with corporate documents.
When adequately planned, the business setup process can take 1 to 4 weeks. Remember that each license is valid for one year and must be renewed annually.
FAQ
Can I start a Free Zone company in Dubai with 100% ownership?Yes. In Dubai, a Free Zone company does not require a local sponsor. Therefore, you can own 100% shares in the company.
What is the cost of company formation in UAE free zone?The total cost of establishing a free zone business in the UAE will vary depending on your company's nature, location, and legal entity. For a full and personalized quotation, contact the team at Centriz.
Do I need UAE residency to own a Free Zone company?No, UAE residency is not required to own a Free Zone company. Foreign nationals and non-residents can fully own and operate businesses in Free Zones.
What type of company can I set up in the Free zone?You can choose to set up a Free Zone Company (FZC), Free Zone Establishment (FZE), a foreign company, or a UAE company in the Dubai Free Zone for Dubai free zone company setup.
What is the difference between Mainland employment and a free zone visa?The main difference between a Mainland and free zone visa is two years of visa validity on the Mainland, while a free zone is three years of visa validity applies.
The UAE labor law shall ensure n the Mainland, whereas the laws and regulations of the corresponding free zone shall regulate the Free Zone visa.
How much is the customs duty applicable to a Free Zone company?Free Zone companies benefit from exemptions on export and import customs duties.
