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July 04, 2019
Freezone Business Setup in UAE offers countless benefits for starting up a venture in Dubai. Free zones are special economic zones in Dubai designed to attract foreign investors. These business setups are fully owned by the investors and there are plenty of options you can choose from. You will get 100% ownership of your business and different tax exceptions.
You can also do international trades and if the things are not getting around, you can easily wind up your business.
It is important to note here that every free zone in Dubai has a governing free zone authority, which means all have different rules and regulations.
Here are some benefits that you will get if you have a license for trading, professional or industrial companies.
Dubai has more than 30 free zones, each of which has its own terms and conditions. If you open a company in these Free Zone license, then the DED is responsible for offering a license in Dubai.
When a company is approved by the Free Zone authority, it is given a Free Zone license to carry out their operation in the area. These licenses are important for trade purposes and can be renewed annually. The Department of Economic Development (DED), is responsible for issuing these licenses in the UAE.
Companies that are affiliated with import and export services and are legally incorporated outside the UAE are permitted for Trade License. In this case, no license is required from the economic department and you will 100% foreign ownership.
Companies that are situated inside the UAE free zone or incorporated in industrial production outside the UAE are given an industrial license. In this case, no license is required from the economic department and you will 100% foreign ownership.
Service license is issued to the companies holding a valid license from the government body. In this case, you can do banking and contracting services as long as you meet the governing requirements. Apart from this, there are other regional licenses. E-Commerce, Logistics, Commercial and Freelance Permit.
There are more than 30 free zones currently operating in Dubai.
Trade license cost will completely depend on the type of business operation. For General Trading license, the approximate cost is around 40,000 AED.
Years ago, no one could have thought that Dubai will become a global hub for foreign investors. Dubai is leading with innovation and strong economic culture. The politically stable environment of the city offers friendly business regulations for foreign investors around the globe. The business climate of Dubai is incredibly attractive, thanks to the government that benefits both sides.
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