Benefits of Free Zone Business Set Up in Dubai
Dubai has always led with an example when it comes to setting standards in the economic market – coming up with lax and easy-to-navigate rules and regulations, setting up benchmarks for online and offline businesses, be it LLC or Import/Export Business. Therefore, it is evident that the United Arab Emirates came up with the concept of free zones to regulate a higher amount of business reaching the mainland via free zone business setup in Dubai.
Let’s move ahead and get to know the concept of owning businesses in the free zone areas of Dubai better, the benefits of running a business within a free zone as well as the information on the Dubai free zone license cost, for those interested in setting up a business in one of the most profitable markets in the world, i.e. Dubai.
Benefits of company formation in Dubai free zone
First and foremost, free zones in Dubai are basically geographic areas within a country where goods, services, and commodities can be traded without the intervention of stringent custom regulations. For most of the free zone business setup in Dubai, companies are taxed minimally or sometimes even fully exempted to encourage economic activity and a higher rate of doing profitable business without worrying about taxes and capital revenue to be paid to the administrations. Each free zone in Dubai Mainland is an autonomous entity with its own free zone authority that governs, handles registration, and issues licenses within the premises of that free zone.
The free zone business setup in Dubai were intended to act as international business hubs for companies conducting businesses outside the United Arab Emirates since they were not initially licensed to operate within the rest of the UAE. Although during the initial phase, most of the free zone companies were involved in import and re-export, though now most of the companies run business within the UAE and GCC through local distributors and traders. Free zone business setup in Dubai offers the most fertile ground for setting up industries equipped with state-of-the-art infrastructure, duty, and tax exemptions, commendable business opportunities coupled with flexible government policies, and facilities that make the experience of running a business look seamless.
Exploring options to have a free zone business setup in Dubai is an attractive avenue for foreign investors, as it expedites business activities and attracts companies looking to invest their capital in entrepreneurial businesses. And, how it attracts investors, entrepreneurs, and businessmen by setting up significant incentives for companies that are willing to set up their offices and industries in the free zones spread throughout Dubai. Given below are a set of incentives that are rated high amongst businessmen around the world
- 100% ownership of the business without the aid or requirement of a local sponsor
- 100% exemption from personal income tax and capital gain tax
- Inclusion of minimal Import/Export duty
- Zero per cent corporate tax payable to the administration
- Single window clearances for administrative services
- 100% repatriation of capital and profits from the business
- Speedy acquisition of license and ease of business set-up
- Transparent laws and regulations
- Zero restriction on currency movements between foreign nations
- Provision of world-class infrastructure with an efficient communication system
- Low start-up and operational cost
- No visa restrictions for recruitment of foreign national along with liberal labour laws
- Unlimited access to a wide gamut of skilled professionals and artisans
- Easy access to air, rail, and road transport systems
- Ready consumer market across MENA and Asia regions
There are more than 30 free zones currently operating across the UAE, spread far and wide across the seven emirates, and it’s a number that’s gradually moving higher with constant rise as new free zones are being declared each year.
One of the most salient features is that one can set up a business in return for an extremely low cost for setting up a business in Dubai free zone. And, while the registration fees are relatively low, once all the other expenses are added in, the cumulative value will not cross over AED 30,000.
The cost of the license in Dubai free zone for attaining trading licenses ranges from AED 10,000 to AED 20,000 per annum based on the number of activities or services that one wishes to enlist within its business model. But these are the figures that subject to change and are only a tool to showcase the minimal cost of doing business in a Dubai free zone and encourage businessmen to set up business in Dubai free zone, and leave the headache of handling license cost and attaining them to professionals looking to help you!
There are many agencies that are working hard day and night to provide the most dependable local sponsors that align perfectly with the goals and ambitions of the company. The best agency in Dubai is Shuraa Business Setup. To book a free consultation with Shuraa’s free zone company formation specialist, call +971 44081900 or send a WhatsApp to +971 50 777 5554 or simply drop an email at firstname.lastname@example.org.