Business Setup in Dubai Free Zones - How To Guide

1. Business Setup in Dubai Free Zones: How To Guide Setting up a venture in one of the UAE’s several free zones delivers thrilling opportunities for business enthusiasts or entrepreneurs. Dubai holds more than 40 free zones and each zone has to offer something unique in terms of benefits and regulations. With plenty of choices, It is important to know where to start your company. However, this specific guide is all about Freezone Company Formation in Dubai, including the steps to be followed, documentation to be submitted, and more. What is a Free Zone Company in Dubai? Free Zones are also known as free trade zones. These areas are economic zones where products and services can be exchanged at reasonable tax and customs rates. People often get confused that free zones and offshore corporations are the same, but that is not the thing. The free zone enterprises are completely onshore and can do business in Dubai if specific conditions are fulfilled. Moreover, there are around 67 free zones in total in Dubai and over 150,000 businesses are located across these zones.

2. Steps for Setting Up a Free Zone Company Here’s a simple guide to help you establish your business in a free zone: Step 1: Choose a Free Zone Start by selecting a free zone for your business. Think about what kind of business you want to run, look into your industry, conduct market research, and pick a free zone that suits your business. Step 2: Select a Legal Structure After choosing a free zone, decide about the legal nature of your company. Most companies in free zones operate as LLCs. Step 3: Choose a Trade Name Pick a trade name for your business. Check the DED naming guidelines to make sure that your selected trade name is different from others and not already in use. Step 4: Apply for a Business License Collect the needed paperwork and apply for the business license that aligns with your company’s activities. This step is vital for adherence and efficient operations. Step 5: Open a Corporate Bank Account At last, open a corporate bank account to manage your business finances. This helps you keep track of transactions. You will need the following documents to open the account:  Passport copy  Emirates ID  Visa copy  Business License

3. Documents Required to Setup a Business in Dubai Free Zone Here are the essential documents required for setting up a company in a UAE free zone:  Application form  Passport copies  2 Photos (white background)  Trade name  Business Plan Depending on your business type, you may also need additional documents during registration. Benefits of Starting a Business in Dubai Freezone

4. Freezone Company Formation in Dubai has many advantages for entrepreneurs such as:  100% Foreign Ownership: You can fully own your business without any requirement of a local partner. Therefore, this provides you with greater control over your venture.  Full Profit Repatriation: You can transfer all profits out of the UAE without -- restrictions.  9% Corporate Tax:Companies that earn less than AED 375,000 don’t pay corporate tax which makes it easier for small businesses.  Easier Import and Export: Free zone businesses get benefit from simplified import and export processes and don’t pay customs duties on goods.  Strategic Location: Free zones are often located near ports and airports which further helps to speed up shipping and lowering costs.  Global Connectivity: Dubai’s major transportation hubs make it easy to trade locally and internationally.  Quick and Simple Registration: The procedure for acquiring a business license is straightforward and efficient. Dubai Free Zone Company Setup Cost Dubai free zone company formation costs range approximately from AED 12,500 to AED 25,000. However, the total costs of setup depend on the free zone you choose, the kind of business activity, the type of business license, visa requirements, and other additional considerations. Several freezones like the International Freezone Authority (IFZA) deliver numerous affordable packages for smooth business setup in the dynamic city of Dubai. For more insights, you can get professional guidance from a Freezone company setup in Dubai. Top 18 Free Zones in the UAE 1. Dubai World Trade Center (DWTC) 2. International Free Zone Authority (IFZA) 3. Jebel Ali Free Zone (JAFZA)

5. 4. Ras Al Khaimah Economic Zone (RAKEZ) 5. Dubai Silicon Oasis (DSO) 6. Dubai South Free Zone (DSF) 7. Dubai Internet City (DIC) 8. Dubai Airport Free Zone (DAFZA) 9. Dubai International Financial Centre (DIFC) 10. Dubai Healthcare City (DHCC) 11. Dubai Cars and Automotive City (DUCAMZ) 12. Dubai Knowledge Village (DKV) 13. Dubai Multi Commodities Centre (DMCC) 14. Dubai Studio City (DSC) 15. Dubai Maritime City (DMCA) 16. Dubai Science Park (DSP) 17. Dubai Outsource City (DOC) 18. Sharjah Media City (SHAMS) 19. Sharjah Publishing City (SPC) 20. Khalifa Industrial Zone Abu Dhabi (KIZAD) 21. Hamriyah Free Zone Company Setup

6. Conclusion Freezone Company Formation in Dubai is appealing due to the tremendous benefits it offers. Several advantages like 100% foreign ownership, tax exemptions, full profit repatriation, and more attract business entrepreneurs from all across the world. However, free zone business setup experts like Start Any Business provide expert guidance throughout the process, from choosing the right legal structure to applying for business licenses. Get in touch now to start your entrepreneurial journey in Dubai. Source Url: https://medium.com/@sabindia/business-setup-in-dubai-free- zones-guide-652269ab363c