The UAE free zones are lucrative jurisdictions for investors who willing to have 100% ownership of their businesses. The idea of a free zone has been set up at the international level as a model to promote and develop business in several countries. The UAE free zones are providing 100% foreign ownership, no tax, and customs privileges to the owners of the company. This makes these free zones in the UAE the most favorable destination in the Middle East for international operations. So, if you are interested in freezone company formation in Dubai and want to know more, then we at Start Any Business UAE will guide you properly, and make your process easy and reliable.
Free zone authority in Dubai is the government organization that manages registration formalities and issues business licenses to non-residents companies or foreign-owned businesses for freezone company formation in Dubai. Establish a business in Dubai free zone brings a sea of opportunities for networking, collaborating and extensive growth in the business.
Process Of Freezone Company Formation
Awarded to Dubai investors to establish their business anywhere in the Emirates-based on the type of business location, ownership preferences, budget, and other such factors. There are some processes and formalities to be accomplished for freezone company formation in Dubai. These require rapid planning, knowledge of local culture, government standards, and detailed decision-making through various business setup phases. There are simple steps comprised in freezone company formation:
- Select Business Activity – You need to select a business activity that you want to carry because the type of license you apply for it would depend on the nature of the activity of the business. Several Dubai free zones permit for many business activities, so have many options to explore.
- Find a Suitable Free zone – Once you have decided on the activity of your business, the next step you need to take is to select which free zone is correct for your business. Basically, there are sector-specific zones such as IT, commerce, healthcare, trading, etc. So, research before selecting one special zone.
- Select a Trade Name – Prior to finalizing a name, you require to make sure that your business name is available to be registered on the Dubai free zone authority portal. There are also some standards that the name has to comply with, comprising avoiding any blasphemous language or references to religious or political organizations.
- Gather all the Documents and Apply for a License – After the selection of the activity of the business and registering the trade name at the portal, the next very important step is to obtain a business license. The type of license is based on the activity of the business. To apply for the same, you require to first fill the application form and prepare the documents, as mentioned in the form. In addition, you can make a visa application throughout this process.
- Open a Corporate Bank Account – For your freezone company formation, you require to open a corporate bank account. Open a bank account is an easy procedure. But to do so, you should have again gathered the documents as well as your trade license and offer it to the selected financial institution.
Document Required For Freezone Company Formation
The necessary documents required for freezone company formation are given below:
- Color copy of shareholders’ passport
- Copies of the visa of the shareholders
- Business plan
- Board resolution
- Memorandum of Association
- Article of Association
- A copy of your company’s certificate of incorporation
- A copy of the share certificate
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Benefit Of Freezone Company Formation
Free zones are the most favorable destinations for company establishment equipped with state-of-the-art infrastructure, world-class business amenities, duty and tax exemptions, flexible government policies, and unmatched facilities.
These are not the only factors that drive freezone company formation; there are many more advantages of forming a free zone company, like:
- 100% ownership for investors, regardless of their nationality and country of origin
- 100% tax exemption on corporate and personal income or gains
- 100% repatriation of capital and profits
- Exclusion from all import and export duties
- Handy office and warehouse facilities
- Option for a company set up by an individual
- Exemption on corporate tax for 15 years, renewable for another 15 years
- Complete confidentiality of operations
- Flexibility to engage in international business
- Fewer renewal charges
- Flexibilities to hold properties, participate in multiple activities, and open a bank account in Dubai
- The option of liquidating anytime
- Assistance in housing facilities, staff visas, and other support services
How We Can Help You
Start Any Business UAE is the name that offers a holistic approach to excellence, commitment, and professional business consultants. As in chief corporate services form that operates under the trademark of Start Any Business UAE, we facilitate to all sizes of established entrepreneurs and businesses, expansion and conversion of their business in the UAE.
If you are looking for freezone company formation in Dubai, then Start Any Business UAE will help you with strategic consultation. We make your process easy and reliable without any hassle.