For businessmen around the world, the UAE has always been an enticing destination. It is not difficult to see why, with low tax, a strategic position at the centre of the biggest and strongest developing markets in the world and a government committed to foster and fund industry.
The services like the intellectual Property in Dubai are easily available. But although those reasons may be the main reason why so many people flock to the coast of the UAE to do their business – freezone setup UAE.
Freezone Setup in UAE
Often known as zones of free markets – the economic regions in general where goods and services can be exchanged are preferential taxation and customs duties. Originally, they were established to promote multinational business in the area by providing benefits like 100% foreign ownership. There are 45 free zones in the UAE at the moment.
The free areas of the UAE have grown over the years to give the companies in them even greater advantages. Many free areas include particular businesses or sector categories – Dubai Healthcare City serves healthcare professionals for example, and the Jebel Ali Free Zone Authority specifically has its connection to the region’s largest port.
Advantages to Setup Business in Freezone
The configuration method in most free areas is unbelievably easy. The specific application process will depend on the business operation and the free area you have selected, but in many cases only simple documents including copies of the passport and business documentation is needed.
It takes just a week or two to do the entire thing. Many free areas often have flexible desks and virtual packages that allow you to use the free area address and facilities on an ad-hoc basis.
Free zone companies are not allowed to freely trade with the local UAE industry, but this is quickly resolved. One choice is to partner with a local dealer who will sell the products and services for a fee. Alternatively, a free zone business can be established and branches of your free zone business can be opened later in Emirates. These branches will be used to commercialise the offer and operate in the UAE.
Support and Convenience
During and after establishment, free zone authorities are available to provide assistance. Most free zones support all owners and other relevant workers, such as spouses or family staff, in applying for visas.
Many even support the opening of corporate bank accounts, the right bank to accommodate your needs and the organisation of business meetings. With regard to continuing market assistance, free areas include business advice and networking resources, as well as access to start-up centres and development programmes to help emerging enterprises develop and function.
Free areas are also especially common for privacy-conscious businessmen, as there is no transparent corporate ownership registry and business information, such as shareholder information, is never revealed to the general public.
And there’s more to that. All it takes is a few hours’ time and minimal paperwork, and you could trade from a free UAE zone and take advantage of all the advantages that come with it in a few weeks.