Overtime, UAE is becoming a business hub all over the world due to its geographical importance. UAE government is offering flexibility to foreign investors to invest in mainland and free-zones areas. Department of Economic Development (DED) takes care of the entire process of free-zone and mainland companies set up in the UAE. However, setting up a free-zone company can be a life-changing decision for you as it provides you the opportunity to set up your business without hiring a local sponsor. The Government of UAE supports free-zone companies because it encourages foreign investors to set up their business in UAW with little investment.
Here are some surprising benefits of setting up a business in the UAE free-zone with a trade license Dubai.
- You have full control over your business and enjoy 100% ownership.
- You get the facility to transfer your capital and profits to other countries.
- You get an exemption from import and export duties.
- You do not have to pay tax on revenues or personal income tax.
- There is no restriction on currency use.
- You can operate your business at a low cost.
- You find pre-built factories, offices, and warehouses; you do not have to construct anything yourself.
- The company formation process is much easy than mainland business.
- You get customs clearances from one window and administrative services in one location.
- The labor recruitment process is much easy than the mainland.
- You get multiple services at a working site, such as housing and sponsorship.
- UAE’s free-zone setup has world-class infrastructure, working environment, and communications.
Types of UAE free-zone Company:
The main purpose of developing the offshore companies in UAE is to provide the best facilities to foreign investors to invest in UAE without insecurities. There are various types of free-zone areas in the UAE, but all have different rules, regulations, and requirements for getting a trade license.
UAE free-zone also offers investors to establish two types of companies, such as free-zone establishment (FZE and free-zone company (FZCO. These companies are laid on a Limited liability Company, which is also called LLC. However, there three types of UAE free-zone companies:
- Free-zone Establishment (FZE): In this type of business, you can register yourself individually or as corporate shareholders.
- Free-zone Company (FZCO): In this type of company, you get registration with two or more people as shareholders.
- Branch office: this type of company is established as per different rules, regulations, and requirements of various UAE free-zones.