Free Zone companies in UAE
Setting up a free zone company in UAE has become a top request among businessmen. Favorable conditions created by the local government attract more and more ambitious entrepreneurs from all over the world. UAE Free Zones are specially designated areas with unique characteristics, supporting and keeping businesses afloat. How to launch a registration in the United Arab Emirates, and how will it help your startup grow?
Company Registration in UAE Free Zone
What encourages foreign investors to throw all the forces into UAE free zone company formation? Recently, local firms have acquired one significant advantage – 100% foreign ownership. A non-shared license allows a visiting entrepreneur to run commerce openly and confidently. The icing on the cake is no taxes and customs duties for ftz UAE startups.
As for the UAE free zone company formation cost, it will take you between AED 3,000 and AED 6,000 per person. Additional costs of a free zone company in the UAE, such as obtaining a license, opening a bank account, maintaining an official website, renting an office space, and getting a permit, are worth considering and agreeing to pay much of the costs.
What Is a Free Zone Company in UAE?
A firm formed under protection and by the jurisdiction of a particular economic territory is called a Free Zone Company. Of about 40+ accessible economic areas in the Emirates, 20 belong to Dubai. Each location allows one to engage in certain activities and has its conditions and different cost of licenses. You are lucky if you stick to the winning place depending on your business needs, visa and office requirements, and investment budget.
Remember that starting a business in a free zone involves a purely commercial activity. Please, don’t be confused with the mainland organizations. The first option can only operate within a chosen economic area.
How to Register a Company in UAE Free Zone
Local legislation provides a specific procedure for company registration in UAE free zone. Your company’s activity type is a crucial factor on which the number of steps in the list below depends.
- Stick to a specific activity defined by your location.
- Decide on the territory of which economic area you would like to develop your professional activity. It is worth checking in advance about the list of activities for each.
- Think about your organization’s name, adhering to the naming convention of the selected territories in advance.
- Prepare all necessary documents for obtaining a license to the relevant location authority.
- Remember that company registrars in free zones must obtain a visa for themselves and their employees or partners.
- Take all responsibility for opening a corporate bank account with a local bank following the recommendations of the chosen economic location authorities.
Starting free zone companies in UAE, you get flexibility in making money on your life’s work and the opportunity to take a maximum over the country’s policies and temptations: friendly legislation, banking system, well-developed logistics, and transport infrastructure. This option is the most preferable if we compare the requirements for startup capital and potential income. It doesn’t matter if you are an expert in your endeavor or a complete newcomer to business – in this country, success awaits those ready to accept it.
Contact professional consultant services online to learn about your business’s Free-Trade Zone UAE options. Experts will select the best solution considering your goals and provide comprehensive support.
Take the first step towards creating a successful business!