Freezone Business Setup in Dubai- What are the Benefits
The free zones in Dubai offer many business opportunities and networks. These free zones also known as the Free Trade Zone, was designed to enhance international businesses by providing them with 100% ownership especially to expatriates.
Dubai’s Free Zone areas are areas within where goods, services and commodities are traded without any interference of the strict custom guidelines. A Freezone business setup in Dubai comes with many benefits.
Here are some of the other benefits of the Freezone business setup in Dubai-
1. Freezone business setup in Dubai ensures that companies operating in Dubai have various tax benefits. Some of these benefits are:
a. Corporate tax is not applicable for locally registered companies.
b. Free Zones have one of the lowest value-added taxes in the world at a rate of 5%.
c. The free repatriation of profits is available in all of Dubai free zones.
d. With a Freezone business setup in Dubai businesses have access to a wide network of double taxation agreements as concluded by the UAE.
2. It is an easy process to register a Freezone business setup in Dubai, which takes approximately 3 weeks for completion. After you have selected the Freezone for business setup in Dubai you then need to follow 3 more additional step, which are-
a. Reserve the company name.
b. Rent the office premises.
c. Arrange the deeds of establishment as well as the articles of association.
d. Open a corporate bank account and pay up the minimum share capital to receive the bank statement confirmation.
e. Allocate a budget for the translation and notarization costs of due diligence.
f. You need to guarantee the appropriate business license, granted by the relevant Free Zone Authority.
3. When you get a Freezone business setup in Dubai there are no ownership restrictions. For a business in a free zone in Dubai, Expat investors are given 100% ownership of their enterprises
4. Free Zones have a fully functional infrastructure complete with an efficient communication system. This area provides a constructive business platform for various businesses to grow and excel in their respective fields.
5. With a Freezone business setup in Dubai, you have access to a variety of support services. Free zones assist foreign entrepreneurs with easy recruitment processes and other services like sponsorship and on-site housing. The labour regulations of Dubai are not applicable in the Free Zone areas, including the DMCC Free Zones.
Foreign businesses flourish in the UAE region, which is the reason more of them are flocking to the region for business opportunities. If you are looking to start a business in a free zone, business setup consultants in Dubai can help you out with all the formalities of setting up a company without any complications.
If you are looking for assistance with Freezone business setup in Dubai you can always contact Global Link to get you through the entire process smoothly. We offer services for foreign investors who are looking to set up their business in Dubai and make the process entirely easy for them.