Business setup in Free Zones is one of the most demanded ones in the UAE. There are more than 40 free zones in UAE and each free zone is designed for specific activities. Business setup in Dubai Free zones is comparatively easy with minimum paper works and less processing time.
There are a lot of benefits to starting your business in the Dubai Freezone. One of the main benefits is 100% foreign ownership with no requirement for a local sponsor or any service agents. Also, free zone businesses or companies are free from import and export tax, corporate tax, and personal tax and there are no currency restrictions. The Free Zones of Dubai have fewer restrictions, almost no tariffs, low trade barriers, and cheap raw materials. That is why we have gathered significant information about the benefits given to companies of free zones in Dubai, the requirements to set up a business in a free zone, and some of the free zones of Dubai.
Some of the benefits of a free zone business setup are listed below.
Benefits Given To Companies of Dubai, UAE Free Zones
- Complete foreign ownership of your company.
- Equal distribution of capital and profits among owners of the company.
- Complete exemption from corporate, personal, and income taxes.
- Free transfer of funds, with no such foreign exchange controls over your company.
- Exemption from all the import and export duties.
- Low transportation charges.
- Abundant and inexpensive energy.
- Cheap labor and easy recruitment procedures with less permission.
- Effective communication methods and single-window supervision.
- Progressive government policies and an easy legal framework for businesses.
- Convenient and modernized immigration process.
- Aid and visas for an affordable skilled workforce.
- Flexibility to operate 24/7.
- Freehold offices are readily available for sale or lease.
- Beautiful walk-in offices, factories, and warehouses.
- Easy start-up and licensing methods.
- Novel industry clustering and purpose-oriented infrastructure.
- 2-year UAE residence visa for every international employee.
Procedure for Dubai Free Zones Company Setup
- Decide the Business Activity
Choosing your business activity or activities is the primary step in setting up your business in Dubai Free Zone. The type of license will depend on the activities you need.
- Choose the Trade Name
Choosing your trade name or company name will be your next step. Then you have to check whether the name is available for registration. Our business consultant can help you in checking the availability of the name you have chosen. And also there are some restrictions or standards that you have to follow while choosing a company name:
- Avoid using any blasphemous language
- Avoid references to religious or
- Avoid mentioning any political organizations
- If the company name contains a person’s name, that person must be a partner and shareholder of your company, and any abbreviations or initials are not permitted.
By following the above restrictions, you can get your license with your company name and you can own it 100% with Dubai free zone business setup.
- Apply for Business License
After choosing and registering the trade name you can apply for the license according to your business activity. You have to submit the required documents also with the application. Contact our business consultant to know more about the documents you required for submitting the license application.
- Choose Office Space
Dubai Free Zones are deep-pocketed with office spaces, Flexi-desks, or virtual offices where you can kick start your business. There are options to buy or lease office spaces in free zones. The office spaces are required according to the number of employees and the type of activity you are looking to do.
- Get Pre-approval and Register Your Business
The last step is to get your initial approval and other required business approvals from the specific departments. Then you can register your business. Within weeks you will get the license and be ready to start your business in Dubai Free Zone.
Suppose you are doubtful and unaware of the procedures to be done for setting up your company in Dubai free zone. In that case, you can contact Bytes business setup consultants and we can help you get your license within days without any hassle.
Requirements for Starting a Business in a Dubai Free Zones
- Passport and Visa copies of the business managers and partners
- 3 Proposed Company names
Required Documents for the Branch of Companies:
- Attested Memorandum and Articles of Association, Board Of Resolution & Commercial Register / License of the Parent Company.
- Manger’s Passport & Visa copies
Your business will need some consultancy to get ahold of the documents required to set up a free zone company in Dubai. Bytes Business Consultancy works perfectly for Dubai free zone business setup. They will help you set up your new business in the Dubai Free Zones and even get you the documents. Bytes Business Setup Consultancy also gets you approved in no time with all the necessary licenses for your business setup in Dubai, UAE. Contact us for more information regarding the Dubai free zone business setup or any other pro services for your company. We are always ready to work for you.