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Dubai Free Zone company Setup

Dubai in UAE has become one of the hottest destinations to start a venture due to the geographical and economical advantage. The Middle East markets are high growth markets that allow the business people and investors to run a successful and flourishing business. It is a well-established market where the goal and aspirations of both the small business owners and the multinationals are met.

Looking at the incredible growth and response, freezone business setup dubai enquiries are coming from worldwide across different verticals.

·         You can start an onshore or an offshore business in UAE but operating your business in free zones are more popular with foreign nationals.

 ·         One of the best ways to start your venture is Dubai to operate within free zone.

 ·         Free Zone have their own guidelines and regulations and is run by FZA or Free Zone Authority.

 ·         The reason why you should go for Free Zone is because there is no restriction on foreign ownership. Moreover, there will be 0% corporation and personal tax, no restrictions on currency, 100% ownership, 100% return of profits, 100% exemption on EXIM tax.

 ·         There are as many as 40 Free Zones in UAE and many more are yet to be formed.

 ·         Every Free Zone has one or more business category. The licenses are provided to the companies only in those categories.

 ·         freezone business setup dubai, this is how you can go about it:

 1.       Firstly, you need to select your business type or the nature of your business. This is how the category of your free zone will be decided. It is important because a particular free zone will allow only a certain category of business. Though it is also possible to run multiple business in one trade license.

 2.       Decide the location of your business. If your business encompasses a lot of import and export you must choose an area the has very good transport facilities.

 3.       Next, you must decide the name of your company. Do make sure to go through the naming norms of UAE. There are rules regarding the company names pertaining to religion, politics, a person, initials, abbreviations and much more. It is best to consult the naming convention guidebook.

 4.       Completing application for your company is an important next step.

 5.       Other paperwork must be done impeccably such as submission of a copy of passport, NOC certificate, and other documents. The documents required are certified copy of the passport and Visa entry stamp, proofs of Address, bank reference letter, CV, and company application form.

 6.       Next you will have to open a bank account for all business transactions

 7.       ID registration and Visa stamping are the final steps, and you are done

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Business set up agency in Dubai

This is just the right time of setting up your business in Dubai. The scope for the business in Dubai looks promising now because there have been announcements of many ambitious projects in UAE and also as per IMF, the UAE is projected to grow leaps and bounds and soon is going to become one of the biggest economies all across the world.

If you want to set up your business in Dubai, you must seek help of the business set up agencies in Dubai. Here is why:

·         There are many agencies who can help you set up your business in Dubai and obtain things like available space, infrastructure, getting done your medical test which is mandatory in Dubai, help in Visa, legal registration of the company, get a copy of license, immigration card, etc.

 ·         Hiring a setup firm to get your business startup registered is a good option because these consultants support you right from the start of the setup process till you are finally done. The setup companies can actually perform the tedious task of registering the company for you by taking care of the obligatory requirements so that you can register your business smoothly and legally without any problems.

 ·         The agency also assists in opening a bank account for you and your firm in Dubai. Other services include arranging for a local auditor, doing all the necessary renewals, and performing the services related to the nominees.

 ·         Since they are rightly experienced, the whole process might get completed within just one week of process. These agencies have an expertise in handling and managing the local government bureaucrats. They also have connections with Free Zone officials who will help you plan your business well and cut your startup costs too.

 ·         The professional business setup agency in dubai have a team of proficient and skilled workforce who can immaculately plan for your company registration right from start to end. The services like devising plans and strategies to be followed for a smooth set up of the business, making a list of the expected costs, getting the license, considering and advising the options of the location, offering solutions just in case any problem comes, and much more are carefully executed.

 ·         If you want to set up your company branch in Dubai, the business set up consultants will advise you on the legal aspects such as attorneys, legal agreements, certificate of incorporation, account auditing documents for past two years of the parent company, passport copy of the workforce, bank reference letter of the employees of the new branch, attest and notarization of all the documents, Arabic translation of documents, application process of all the documents, and much more.

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How to set up Business in Dubai

Dubai has become the most popular destination, be it for a vacation or setting up a business. The reason for this popularity numerous. Let’s see the main reasons

1.    Strategic Location – Dubai is strategically located and gives easy access to east and west countries. The travel time from Dubai to either side of the world is minimum.

2.    Global Country – Dubai is truly global. From locals to foreign residents, Dubai offers the best culture and business experiences from across the world.                                                                          

3.    Friendly Policies – To encourage foreign investment, Dubai has one of the most favorable business policies in the world. Free zone business setup is one such area which aims to give maximum benefit to the businessman.

4.    Convenient lifestyle – Dubai offers a luxurious lifestyle and all modern convenience irrespective of the size of your house or business. This helps in getting the best human resource for your business from across the world.

However, like any other country, Dubai also has some rules for the businessman. However, the best option for you to set up a business is the availability of a free zone.

Business setup Dubai will give you multiple benefits such as complete ownership, full control on conducting your business, exemption from taxes, and so on.

Due to all these benefits, business setup Dubai is the most beneficial option for anyone to start the business.

 Let’s look at the steps needed to set up your business in Dubai.

 1.    Business plan, Budget, and paperwork – The first step to establishing any business is to keep the information ready. Information such as the type of business, budget to start a business and legal paper work-ready.

2.    Identification of the location – Dubai has many free zones at its disposal to entice foreign investors. Therefore, depending on the nature of your business, you need to identify the free zone that fits your business industry. And avail the many benefits that it offers.  

3.    Registration of company – Once you know where you need to set up your business, you have to get the company registered under that particular free zone authority. To register your company, you need to submit the legal papers, the details of organization structure, business plan, and information about finances.

4.    Rent an office – Once you receive the registration, you can select and buy or rent your office space.

Once you follow the above main steps, you are ready to go into the business. However, though the process is relatively easy, it may not be easy to understand and follow the process on your own.

Many efficient companies specialize in helping you set up your business. As an expert in the subject of business setup Dubai, they can guide you at each step.

Their guidance and expertise will not only smoothen process but will also be a lot faster. The reason is that these companies know what all will be needed. And therefore, they will ensure that you don’t miss out on any relevant document or critical information.

Thus, their internal audit will ensure that you submit everything correctly on the first go. And therefore, you can start your business and reap the benefits of the same at the earliest!

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Freezone Business Setup in Dubai: What You Need to Know

Located along the coast of the Arabian Gulf, Dubai is a global city and also one of the most popular business hubs in the world. The number one reason being the city’s diverse business model, the main driver of its economy, largely attracting foreign investment. To add to this, the city also numerous free zone for business setup in Dubai, at various locations, making it a rewarding experience for foreign nationals.

What is the Free Zone?

Free Zones in Dubai are specific economic areas which are set up with the goal of offering foreign business investors with benefits of tax concessions and customs duty. All registration formalities and issuance of business licenses for non-resident companies or foreign-owned businesses are handled by the Free Zone Authority in Dubai. Setting up a business in the Free Zone of Dubai brings a sea of opportunities for networking, collaborating and extensive growth in the business.

Benefits Freezone Business Set up in Dubai

Free zones     offer foreign businesses with state-of-the-art infrastructure, duty and     tax exemptions, world-class business amenities, flexible government     policies, and unmatched facilities.

Foreign     business investors receive complete ownership of their business     irrespective of their nationality or country.

Foreign     investors receive a complete exemption on personal or corporate income or     gains

Free Zones     ensure investors with 100% returns on capital and profits

Exclusion     from all import and export duties

Option for a     company set up by an individual

Exemption on     corporate tax for 15 years, renewable for another 15 years

Complete     secrecy of operations

Flexibility     to engage in international business

Fewer     renewal charges

Foreign     business investors have the liberty to hold properties as well as take     part in multiple business activities and open a bank account in Dubai

Foreign businesses who have set up their company in free Zones     can opt to liquidate at any point of time without prior permissions.

Types of Licenses Available for Free Zone Business Setup in Dubai

The following licenses are available for Free Zone business setup in Dubai, as offered by free zone authorities in the city.

Trading License: Allows     businesses to carry out activities that involve import, export, buying,     and selling a limited number of commodities.

General Trading Activities License: This gives     businesses the authority to trade all types of goods, except for a few     banned products, which would require special approval even with this     license.

Service License: Businesses     with this license can deal with activities like consulting, accountancy,     and the like.

Industrial     License: Businesses who want to carry out industrial activities require     this license.

Types of Free Zone Business Set Up allowed in Dubai

Free Zone Establishment (FZE): Requires to     be registered with one individual or corporate shareholder.

Free Zone Company (FZC): This type of     business set up must have at least 2 or more shareholders registered. The     shareholders can be a company or an individual.

Branch     Office: Companies or businesses can set up a branch in any of the free     zones in Dubai.

Dubai's free zones are extremely popular among entrepreneurs and business owners owing to the benefits of having the freedom of doing business, huge tax savings, and favourable government policies. If you too are thinking of branching out your business activities to Dubai, its time to act now. Free zone business set up in Dubai is a smooth process and you will not be disappointed with the results.

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Freezone Business Setup in Dubai- What are the Benefits

 The free zones in Dubai offer many business opportunities and networks. These free zones also known as the Free Trade Zone, was designed to enhance international businesses by providing them with 100% ownership especially to expatriates.

Dubai's Free Zone areas are areas within where goods, services and commodities are traded without any interference of the strict custom guidelines. A Freezone business setup in Dubai comes with many benefits.

 Here are some of the other benefits of the Freezone business setup in Dubai-

1.    Freezone business setup in Dubai ensures that companies operating in Dubai have various tax benefits. Some of these benefits are:

a.    Corporate tax is not applicable for locally registered companies.

b.    Free Zones have one of the lowest value-added taxes in the world at a rate of 5%.

c.    The free repatriation of profits is available in all of Dubai free zones.

d.    With a Freezone business setup in Dubai businesses have access to a wide network of double taxation agreements as concluded by the UAE.

2.    It is an easy process to register a Freezone business setup in Dubai, which takes approximately 3 weeks for completion. After you have selected the Freezone for business setup in Dubai  you then need to follow 3 more additional step, which are-

a.    Reserve the company name.

b.    Rent the office premises.

c.    Arrange the deeds of establishment as well as the articles of association.

d.    Open a corporate bank account and pay up the minimum share capital to receive the bank statement confirmation.

e.    Allocate a budget for the translation and notarization costs of due diligence.

f.     You need to guarantee the appropriate business license, granted by the relevant Free Zone Authority.

3.    When you get a Freezone business setup in Dubai there are no ownership restrictions. For a business in a free zone in Dubai, Expat investors are given 100% ownership of their enterprises

4.    Free Zones have a fully functional infrastructure complete with an efficient communication system. This area provides a constructive business platform for various businesses to grow and excel in their respective fields.

5.    With a Freezone business setup in Dubai, you have access to a variety of support services.  Free zones assist foreign entrepreneurs with easy recruitment processes and other services like sponsorship and on-site housing. The labour regulations of Dubai are not applicable in the Free Zone areas, including the DMCC Free Zones.

 Foreign businesses flourish in the UAE region, which is the reason more of them are flocking to the region for business opportunities. If you are looking to start a business in a free zone, business setup consultants in Dubai can help you out with all the formalities of setting up a company without any complications.

 If you are looking for assistance with Freezone business setup in Dubai you can always contact Global Link to get you through the entire process smoothly. We offer services for foreign investors who are looking to set up their business in Dubai and make the process entirely easy for them.

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Advantages of a Dubai Freezone Company Setup

It is a promising option for any entrepreneur across the world to opt for a Dubai Freezone Company Setup. However, the entire process is time taking and confusing owing to documentation and laws of Dubai that require to be fulfilled to register a company in Dubai, even in the Free Zone. Before we go ahead let us understand more about the Freezone in Dubai.

What is a Free Zone in Dubai?

Before we think about Dubai Freezone Company Setup, we first need to understand that Dubai’s Freezone is territoriality different from Mainland Dubai. The Dubai Freezone is an isolated land which not only uniques based on its jurisdiction; It is also bound by specialised rules that govern the area.

If you are a business owner from outside of Dubai, starting your business in Dubai Free zone is an apt option for you. A Dubai Freezone Company Setup is undoubtedly a much cheaper option, but it deals with several restrictions on where, when, and how a business must be regulated or conducted.

Dubai Freezone Company Setup Areas in Dubai?

Jebel Ali Free Zone: This     is one of the most expensive free zones in Dubai Freezone Company Setup. The     Freezone offers a wide variety of opportunities and conveniences for     businesses.

DMCC: This area is the     fastest-growing for a Dubai Freezone Company Setup. The     Freezone encourages businesses in the trading sector and to     create networking options for the country.

Dubai Media City: The     Freezone is a hub for global media enterprises like news agencies,     publishing houses, online media, broadcasting firms and more.

Dubai Internet City: The     Freezone consists of the best internet and communications technology     companies in the world and hence is a good business area for tech     companies.

Dubai Airport Free Zone: This     is a booming jurisdiction for the transport and logistics sector. it also     promotes the import and export of the country.

DIFC: This area caters to companies     that provide financial services.

Dubai South Free Zone: the Freezone includes an integrated urban ecosystem that enables     business personnel to develop substantial cost-effective business     formulations and time management in dealings.

Difference between FZE and FZCO:  

When doing a Dubai Freezone Company Setup it is crucial to understand the difference between a free zone establishment and a free zone company formation in Dubai. Here are the differences below-

-       Free zone Establishments have a single shareholder, whereas a free zone company has 2 or more shareholders.

-       Both have a different share capital requirement.

Advantages of company formation in Dubai Free Zone

Some of the benefits of a Dubai Freezone Company Setup are as follows-

-       Dubai Freezone Company Setup free zone offers 100% foreign ownership.

-       Free zone companies can enjoy limited taxation on personal income and capital gains.

-       As a Free zone company you will not be liable for any corporate taxes and offer 0% duties on import or export.

-       By registering a company in Dubai free zone you can have 100% repatriation of capital and profits.

-       Liberal labour laws and easy recruitment process is a major benefit of free zones.

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How to Hire a good Business Setup Consultancy in Dubai

It is but obvious that new businesses in Dubai often lack the know-how of marketing, which is the prime factor for successfully running a business in the country. This inadequacy in business owners, especially foreign investors, calls for external help, which is where the involvement of a good Business Setup Consultancy in Dubai is seen as a prime factor for success.

 Having the support of a good Business Setup Consultancy in Dubai can offer businesses valuable advice, strategies, and plans which are the ingredients to expand reach in the market. Some benefits of hiring a good Business Setup Consultancy in Dubai are-

 -       They are a cost-effective choice, particularly when knowledge of business setup in Dubai is concerned.

-       They can help businesses develop effective strategies

-       A good Business Setup Consultancy in Dubai can improve the efficiency of a company.

 However, even though all these benefits hold true, it can be difficult to sieve a good Business Setup Consultancy in Dubai among the many that are available in the market. Choosing the wrong business consultant can cost you more than just your money. So, how do you choose the business consultant that is right for you?  Here is a checklist to help you.

  A good Business     Setup Consultancy in Dubai will     have a good portfolio and the backup of good reviews from previous     customers. Their success rate with past customers speaks a ton about the     level of services that they provide. Do not ask them about their success     to know their success. So, when you are out looking for business     consultants that can help your business grow, look for online reviews and     see how they have been rated in terms of their level of customer service.

A good     business consultancy in Dubai will have a team of people who hold     extensive know-how about business setup in Dubai. Look out for certifications     and qualifications of team members who are going to handle your project     before you go ahead and plan to hire them. These members can be a valuable     resource and provide you suggestions, which are directly driven by the     ongoing marketing trends and past experiences.

A good Business     Setup Consultancy in Dubai will     charge a reasonable price for its services. Cost is an important factor     that businesses must consider while hiring business setup consultants in     Dubai. Do thorough research by approaching more at least 5 companies and     then comparing their quotations. The difference in prices and services     will help you decide whether they are the right business consultants for     you.

If the     business consultants you approach are good to go, then the final step is     to make sure that they have all necessary documentation ready before     proceeding ahead with the deal. If they do not, then it is best to keep     looking for other options.

You, as a business, can benefit enormously by hiring the services of a good Business Setup Consultancy in Dubai. More than that, this step can help you expand your business into new markets, which is the ultimate goal.

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