How to setup a business in UAE Free Zone
The UAE has broad range of business opportunities for overseas investors, companies and would-be entrepreneurs that wish to expand and move ahead in the professional sphere. It is well looked as an investor-friendly country with minimum taxation policies. There are about 40 Free Zones in the UAE, and many others are under construction. Every Free Zone is intended dedicated to one or more business categories and provides licenses to companies in that category.
The UAE government is proactively promoting foreign investment with persistently holding pro-business policies. Through an emerging and expanding economy, outstanding high-tech infrastructure, access to manpower, a responsive and pleasant attitude to attract international flair, the UAE continues to open for entrepreneurship.
Major steps to start a business:
Setting up a business in free zone is comparatively easier. Free zones involve least amount official procedure and time. Companies set up in free zones are administered by policies of the particular free zones. You need to submit the documents, to get required approval. The list of documents depends on nature of business activity, the kind of company and necessities of the free zone authority. Learn some steps for business setup in UAE free zones.
- Determine the kind of legal entity
- Select a business name
- Apply for business license
- Select an office space
- Obtain pre-approvals, register your business and have your license
When a company is given the grant for Free Trade Zone, it is conferred trade license, industry license, and service license by Free Zone Authority. The licenses could be renewed yearly until the lease agreement is effective. Companies with business or Industrial licenses could merely perform business in the Free Zone. To put up their product for sale in the UAE, they must employ an UAE authorized agent. However, services and products could be acquired from and within the UAE without the official agent. The free zone not only enables residency visas to shareholders, directors and employees in the UAE, but also provides certain benefits that include:
- Outstanding support services
- 100% repatriation of capital and profits
- 100% foreign ownership with no requirement for local partner/sponsor
- 100% corporate and personal income tax exception
- Extensive variety of licensable activities
- Dearth of currency restrictions
- Plentiful and inexpensive energy
- Logistic efficiencies because of business cluster effect
- Modern, professional communications
- Information desks and offices for SMEs and start-ups
The type of the business that you are going to execute, will profound a big influence on choosing the Free Zone to fulfill your requirements.
How PRO Business Setup can support you:
We seek to advice and offer consultancy services with regards to the best corporate structure that suits your potential plans. We will also draft documents, gather files and handle submissions, translations, and legalizations and set up company bank accounts. We assist in visa and work permit processing with Emirates ID along with Partnership options for branch office, professional, and Dubai offshore company. Get facilitated through in hand approvals from Free Zone Department, Department of Planning, Ministries, and Civil Defense.