Free Zone Company Setup in UAE
Free Zone Company setup in UAE means choosing the right free zone among the allocated free zones from the seven emirates. The scope of setting up a business in a free zone is available for people who are seeking to line up a business independently, without the assistance of a UAE national or if they do not have the prospect of partnering with a UAE national. The proposition for free zones is hundred per cent foreign ownership of the enterprise or business but trade and commercial activities can only be made with the free zones.
What it means by Setting Up a Free Zone Company in UAE
Setting up of a Free Zone company means, goods can be handled, landed, manufactured, reconfigured or re-exported without any interference of the customs authorities. They only become subject to the prevailing customs duties when the products moves to other customers from different location within UAE.
A free zone is often planned around major seaports, international airports, and national frontiers - areas with several geographic benefits for trade
Advantages of Setting Up a Free Zone Company in UAE
Easy start-up and licensing procedures. Benefits can vary with individual free zone authorities. As an example, provides thirty per cent money rebate on international film and television production disbursal.
You do not need to
be associated with a UAE national to set up a business in a free zone as an
additional benefit. Furthermore, you are exempt from customs duties.
Setting up a company in one of UAE’s designated Free Zones is an alternative to setting up an LLC. For foreign investors and entrepreneurs, a Free Zone company is an appealing option. An Emirati sponsor is not needed for it. It also allows completely full ownership of the business. The foreign entrepreneur has the option of obtaining residence for himself, family members and also a number of employees while setting up a Free Zone company. Free Zones have a special tax, customs and imports governance and are governed by their own framework of regulations. Companies established in a Free Zone can move goods inside out of the UAE freely as they receive 100 per cent import and export tax exemptions in addition to corporate tax exemptions for up to 50 years.
Each Free Zone revolves around one or more individual business industry.
If a foreign investor wishes to set up a business in a particular Free Zone, the business activity shall have to match the industry of that Free Zone.
It is important to choose the right Free Zone Company. The minimum capital required for your Free Zone Company will vary on which Free Zone you choose. Different Free Zones have different requirement in regards to cap shareholder amount and capital requirements. The set up fees and the time duration of the incorporation varies.