Dubai currently welcomes new investors worldwide and it is a great time to launch your company setup in UAE’s free zones. With the best markets on offer, equal access for every investor and investor-friendly laws, both startups and established businesses have high opportunities to grow.
Unlike UAE Mainland businesses, free zone businesses do not need a local partner to be able to do a company setup in UAE which is prominent in attracting many investors. Free zone company formation in UAE has become a popular choice because of easy access to resources, tax benefits, and provision for 100% ownership of the company.
Free Zones In UAE
Free zones are special economic areas in UAE where investors can enjoy a manageable tax system and trade benefits. One can import/export goods without having to pay customs duties. Free zones company setup in UAE are established at places of transit like seaports, and airports to help the investor for better trading opportunities. UAE free zones have been set up across multiple locations.
Why Should You Start A Free Zone Business?
- 100% foreign ownership as no local partner is required
- 100% profit and capital repatriation
- Tax-free business zones
- No controls over foreign currency exchanges and no limits for funds transfer
- No duties are charged on any kind of goods
- Inexpensive energy needs
- Easy to get a business license
- Office spaces are available in abundance
- Easy and affordable employee visas
- 24*7 operations without any time restrictions
Steps To Starting Your Free Zone Business
- Determine the type of legal entity
- Choose a trade name
- Apply for a business license
- Choose an office space
- Get pre-approvals, register your business and get your license
Types Of Free Zone Companies
In a UAE free zone, you can set up two types of companies.
- Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
- Free Zone Establishment (FZE)
The difference between them is the number of shareholders and whether the shareholder is a natural person or a legal person. All free zones in Dubai might not have provision to register both types of companies. One has to check with individual free zone authorities to determine the registration.
The Procedure of Free Zone Company Setup in UAE
- Determine the type of company:
Decide the type of business you are planning to start and also the free zone you choose. Different free zones have different requirements to be fulfilled for company setup in UAE.
- Choose a trade name:
After deciding on the type of business in the UAE free zone, you have to choose a trade name following the making conventions, rules and regulations put forward by the government.
- Establish an office space:
Once all these procedures are completed, you have to look for an office space to set up your company. One can either buy a convenient space or lease office space in the free zone.
- Get approvals:
The investor has to clear the formalities and get approvals from different authorities for the license to get issued. After collecting the necessary approvals, one can start their business. The entire process won’t take more than 2-4 weeks to get completed.
- Get a business license:
After deciding company type, trade name and registering the business, the investor has to apply for a business license. Different licenses are offered by different free zones for various business activities.
MAATS, Your Best Consultant in Company setup in UAE
MAATS, being a top accounting services in Dubai helps enterprises establish their business fast and easy in convenient steps, following a transparent process. We assist diverse forms of companies to flourish in UAE. With years of experience and expertise, our team of company setup in UAE professionals support and guide in each step to start your free zone business.
