It is a promising option for any entrepreneur across the world to opt for a Dubai Freezone Company Setup. However, the entire process is time taking and confusing owing to documentation and laws of Dubai that require to be fulfilled to register a company in Dubai, even in the Free Zone. Before we go ahead let us understand more about the Freezone in Dubai.
What is a Free Zone in Dubai?
Before we think about Dubai Freezone Company Setup, we first need to understand that Dubai’s Freezone is territoriality different from Mainland Dubai. The Dubai Freezone is an isolated land which not only uniques based on its jurisdiction; It is also bound by specialised rules that govern the area.
If you are a business owner from outside of Dubai, starting your business in Dubai Free zone is an apt option for you. A Dubai Freezone Company Setup is undoubtedly a much cheaper option, but it deals with several restrictions on where, when, and how a business must be regulated or conducted.
Dubai Freezone Company Setup Areas in Dubai?
- Jebel Ali Free Zone: This is one of the most expensive free zones in Dubai Freezone Company Setup. The Freezone offers a wide variety of opportunities and conveniences for businesses.
- DMCC: This area is the fastest-growing for a Dubai Freezone Company Setup. The Freezone encourages businesses in the trading sector and to create networking options for the country.
- Dubai Media City: The Freezone is a hub for global media enterprises like news agencies, publishing houses, online media, broadcasting firms and more.
- Dubai Internet City: The Freezone consists of the best internet and communications technology companies in the world and hence is a good business area for tech companies.
- Dubai Airport Free Zone: This is a booming jurisdiction for the transport and logistics sector. it also promotes the import and export of the country.
- DIFC: This area caters to companies that provide financial services.
- Dubai South Free Zone: the Freezone includes an integrated urban ecosystem that enables business personnel to develop substantial cost-effective business formulations and time management in dealings.
Difference between FZE and FZCO:
When doing a Dubai Freezone Company Setup it is crucial to understand the difference between a free zone establishment and a free zone company formation in Dubai. Here are the differences below-
- Free zone Establishments have a single shareholder, whereas a free zone company has 2 or more shareholders.
- Both have a different share capital requirement.
Advantages of company formation in Dubai Free Zone
Some of the benefits of a Dubai Freezone Company Setup are as follows-
- Dubai Freezone Company Setup free zone offers 100% foreign ownership.
- Free zone companies can enjoy limited taxation on personal income and capital gains.
- As a Free zone company you will not be liable for any corporate taxes and offer 0% duties on import or export.
- By registering a company in Dubai free zone you can have 100% repatriation of capital and profits.
- Liberal labour laws and easy recruitment process is a major benefit of free zones.