Business Setup in UAE Free Zones
The United Arab Emirates provides specialized jurisdiction named – Freezone, those are literally free from several statutory and judicial polices implied on other non-freezone organizations in the country. Free Zones can also be described as an isolated and remote land where a business could be setup with various beneficiary measures provided by the government. A UAE Freezone Business Setup has customs and imports regime that are governed by their own set of rules and regulations (with the exception of UAE Criminal Law as well). The free zones trade proposition states 100% ownership of the enterprise, 100% import and export tax protections, 100% exile of capital and profits, corporate tax exclusions for up to 50 years and no personal income taxes.
It is not just limited to this, being a foreign entity forming a UAE Freezone company is compatibly profitable as it not only gives the liberty to regulate business without constrains but also gives economic benefits - with regards to taxation and ownership. In UAE Freezone Company Formation there are certain requirements that needs to be taken under attention. Those are; UAE Freezone company registration and licensing for a freezone setup, freezone visa and PRO necessities, banking selections with corporate bank accounts and bank guarantees. The UAE market offers various choices for a freezone business setup, for instance – the Sharjah freezone, Dubai freezone, Fujairah freezone or RAK freezone; they are further divided providing vast location options for a business setup. Another factor of consideration is that each designated freezone company will have their own set of rules and regulation, and the decrees pertaining to the Commercial Companies Law will not be applied on them. UAE Freezones are designed according to the need of a business, thus each zone is managed by a distinct freezone authority. If you want to know which Freezone would be ideal for your business setup, talk to an expert from Asnaad Business Setup Consultancy to solve all your queries. At Asnaad, we endeavor to create a highly efficient networking and distribution system for wider access of your company, helping you to opt for a freezone that will act in the best interest of your business setup.
The proficient experts at Asnaad Business Setup Service Providers will help you with the entire process of registration, licensing and formation of the company under the best freezone that suits your business profile. Asnaad is known to deliver high performance standards within the company formation and business consulting industry, so what are you waiting for, get in touch with our experts today!
Check out the options under which you can have your Free Zone business setup in UAE
- 1. Business Setup in Dubai Free Zones: For a business setup in Dubai freezone the areas available are Jebel Ali freezone, Dubai Airport freezone, Dubai Knowledge Village and Tecom Freezone.
- 2. Business Setup in Sharjah Free Zones: For Sharjah freezone business setup, areas offered are Hamriyah freezone and Sharjah Airport International.
- 3. Business Setup in Fujairah Free Zones : For a Free Zone company formation, the Fujairah freezone is available.
- 4. Business Setup in Ras Al Khaimah (RAK FTZ): Ras Al Khaimah provides Ras Al Khaimah freezone.
Why opt for Free Zone Business Setup in UAE?
UAE Free Zone Business Prospects: The UAE government has created the benchmark for regulations and incentives in terms of establishing UAE freezone. Many foreign investors showed disinterest on the term of partnering with a UAE national for the fact that they needed to have a UAE national as a 51% partner. However, Freezone offered the most liberal and attractive operating conditions giving 100% ownership. This move instigated participation of several foreign investors resulting in huge number of company formations and an enormous expansion of economy.
Autonomy in UAE Free Zone: A UAE freezone provides complete autonomy and liberty to the businessmen under freezone company setup. Providing 100% foreign ownership, 100% exile on capital and profits, 100% free transmission of funds and reserves, 100% exemption of import and export duties and more. Under certain circumstances and depending on the business activity, the Freezone company formation is comparatively faster than a Business setup under a Mainland.
List of Free Zones in UAE: The UAE freezone gives multiple options on business setup in Freezone in all the seven Emirates. The country has always motivated foreign investors on company formation in UAE and this encouragement initiated several choices on Freezones (FZ-LLC or FZE) in UAE. With Asnaad you can set up a business at Dubai Freezone, Sharjah Freezone, Fujairah Freezone and RAK Freezone. To find out where would it best to set up your business contact Asnaad Business Setup Service Providers.
Requirements for UAE Free Zone: The initial requirement of setting up a UAE freezone company is to have a Trade License – that needs to be renewed annually. The business needs to be conducted under the trade name all-encompassing of the word ‘Freezone’. UAE freezone also needs to rent or lease an office in the designated freezone available all over UAE -which also has a renewal time period with agreement signed by the parties. A Manager has to be designated with the authority to act as the legal representative of the company. The company further needs to at least have one shareholder and the mandated share capital. Talk to an Asnaad expert to know the requirement of a UAE Freezone Company.
UAE Free Zone Company Formation: The UAE company formation process: Deciding participative shareholders →determining share capital →trade name the company →the suffix FZ-LLC or FZE → Free Zone Establishment → Appointing a manager →Attestation of the Memorandum of Association →certificate of incorporation →Attestation by the local UAE embassy →Board resolution →Submission of application →drafting a detailed report →application form →submission of passport copies →signature process →preliminary approval →Submission of letter to open a bank account →submitting bank details to the authorities to proceed with the legal formalities of registration →making necessary payment along with leasing an office →collection of licenses and certificates →free to operate business. To Know how to do it all →contact Asnaad Consultancy.