Advantages of Setting up A Company in Dubai Free zone
Over the last few years, Free zones have come out as the most effective business model to improve the economic development of any country. Below we discuss few advantages of setting up your company in free zone.
What are the free zones in Dubai?
Free Zones are selected areas where the companies get exempt from VAT, Customs, Commercial, Income, and all other kinds of taxes to operate a business in Dubai.
Free zones offer exemption from all kinds of taxation and have their own set of rules and regulations to setup a company.
What’s the main aim of Free Zones in Dubai?
The main aim of free zones is to endorse foreign investment and encourage economic movement in the town. This model is designed to catch the attention of foreign investors and improve the domestic industrial sector in the city that directly create jobs for local and boost the economy.
What free zones offer in Dubai?
Free zones assist companies and trade grew rapidly. Ease of conducting business in a region means more trading opportunities for foreigners and locals, which is a good thing.
Free Zones permitted commodities to be manufactured, imported, or exported within the zones without any complicated process and tariffs.
Free Zones allow big companies to relocate their whole manufacturing at any of these zones and assure significant savings on the transportation and export of commodities to other states. Similarly, a firm could shift their manufacturing unit to another state and import the major commodities to these zones without paying any charges or tax. Also, free zones are located nearby to the airport or sea that supports the free flow of commodities to any place.
Some of the most popular free zones in Dubai are:
- Jebel Ali Free Zone
- Dubai Cars and Automotive Zone
- DCCA (Media City, Studio City, Design District, Knowledge Park, International Academic City, Outsource City, Production City, Science Park)
- Dubai World Trade Centre
- Meydan Free Zone
- Dubai Multi Commodities Centre
- Dubai Airport Free Zone
- International Humanitarian City
- Dubai Healthcare City
- Dubai Silicon Oasis
- Dubai International Financial Centre
What is the Advantage of Setting Up Company in Dubai Free zone?
There are numerous advantages of setting up a company in Dubai Free Zone such as:
- Investors get 100% company ownership without the help of a local sponsor.
- Investors get an exemption from various custom duties, private and public taxes, and assets gain taxes.
- Investors get complete repatriation of investment and profit from the company
- Investors pay least Import and Export duty
- Investors evade corporate tax
- Investors could move currency from one country to another without any restrictions.
- Investors get sole window clearance facilities for government services
- Investors quickly receive licensing from DED (Department of Economic Development Dubai) to set-up a new firm.
- Investors get transparent rules and regulations for company setup.
- Investors get highly advanced infrastructure with a well-organized communication system.
- Investors get low start-up and functioning cost
- Investors could recruit employees freely with liberal labor laws
- Investors get entrée to a group of trained professionals
- Investors get pre-developed arrangements such as offices, industrial units, warehouses, etc.
- Investors get fast and efficient business support 24/7.
- Investors get the facility to operate the company 24/7.
- Investors get quick sponsorship, on-site accommodation and work support
- Investors get new information and technology infrastructure with fully functional data center
- Investors get easier connectivity to rail, road, sea, and air transport.
- Investors get private meeting rooms to hire.
- Investors get a free working environment and an organized customer market across the region.
- Investors get an opportunity to attend free standard training and networking events organized in free zones.
What are the steps to set up a company in Dubai Free zone?
By following just five easy steps, you can setup a company in Dubai free zone:
- Choose the activities of the company according to the DED list.
- Choose your business name according to the DED rules and complete the registration process.
- Prepare required paperwork, documents, and submit your request to the authorized body.
- Get License approval and open a corporate bank account to start trading.
- Finally follow the immigration and visa proceeding process with relevant administrative departments.
And that’s all you need to setup a company in Dubai Free Zone. However, it’s good to hire a business consultant at this phase that can make sure everything is in place before submitting your business application and avoiding redundant delays.
That’s where the PMC Solutions DMCC professionals come in:
PMC Solutions DMCC team helps your company formation across all free zones in Dubai, UAE. The team reviews your business activity and chooses the right free zone that best suits your specific requirements. PMC follows step by step process starting from choosing a location, determining the budget, and types of business operation, office or Flexi-desk choices, assessments, bookkeeping, and share assets needs, etc. that completely makes the whole business setting experience a hassle-free one.
For Free Consultation contact PMC Solutions DMCC +9714 275 6718 What’s app +971 588 631 656 or email – firstname.lastname@example.org