Free Zone Business Setup in Dubai and UAE - The concept of Free Trade Zones (FTZ) popularly known as Free Zones gained momentum during the latter decades of 20th century when most of the countries around the world started setting Free Zones to attract foreign investment and business.
Free Zones across the globe play a significant role in widening the global market and increasing cross border investment. The business and labour laws applicable in Free Zones are different from the laws applicable in mainland. Unlike mainland, Free Zones are free from trade barriers like quotas and tariffs imposed by customs authorities. Besides eliminating trade barriers, administrative procedures are also simplified and kept at minimum level to ensure free trade.
Free Zones generally provide import and export duty exemption to make it an attractive destination for trade, manufacturing and allied activities. It allows manufacturers to freely import raw materials and export their finished products to global markets at competitive cost. In addition to that, investors in Free Zones can also enjoy many indirect and direct tax exemptions.
The Free Zones in Dubai and other Emirates of UAE are fully equipped with state of the art infrastructure, communication and logistics facilities. Pre-built ready to use office space, showrooms and warehouses at affordable rates make these Free Zones an attractive choice of investors around the world. Most of the Free Zones also allow investors to lease land and to build facilities according to their requirements.
Dubai offers a wide variety of options to investors from different industries. Like rest of the world, most of the Free Zones in Dubai are created to cater the requirements of specific industries.
The Free Zones in Dubai and other Emirates of UAE are regulated by respective Free Zone Authorities. The Free Zones in Dubai and throughout the UAE put forward many viable options in front of the investors for setting up their dream business.
Following are the most important advantages of setting up your business in a Free Zone in Dubai, UAE:
100% ownership for foreign nationals.
100% import and export tax exemption.
100% repatriation of capital and profit.
Corporate & Personal income tax exemptions in most cases.
Can form business even by one individual.
Can open bank account in Dubai.
No currency restrictions.
Low license renewal charges.
Can be liquidated at any time.
Can do international business.
Can include multiple activities in license.
Can hold properties.
Low cost of operations.
Pre-built offices, warehouses, manufacturing units.
Fast-track incorporation and licensing procedures.
Single window clearances for all administrative requirements.
Abundant energy at attractive rates.
Transportation links by air, by sea and by road.
State of the art infrastructure, communications and logistic facilities.
Can operate 24 hours a day.
The above listed advantages of Free Zones makes it a viable option for many foreign investors who are planning to set-up their business in Dubai, United Arab Emirates.
Mr. Baiju Masoodu is a Free Zone Business Setup Consultant. Our ‘corporate service firm’ can advise and assist you to set-up a business in Dubai and UAE Free Zones. For a free consultation & cost estimate, call me on: +971 50 214 1476 or mail me at: email@example.com