Dubai is a good place to start if you want to grow your company and gain international recognition.
Dubai is a rapidly expanding city in the UAE that invites entrepreneurs to establish their businesses on its territory and is looking for foreign investment.
This city has created fantastic business plans for entrepreneurs. If implemented properly, these plans can quickly elevate your company to greatness.
UAE’s free zones attract countless people worldwide. Do you want to know which free zone would be best for a company formation in UAE?
This blog post unveils the top five UAE free zones.
What are free zones and their significance?
In the UAE, there is a region called the free zone that has been set aside for commercial and economic operations.
The free zones were established primarily to draw international investment to the UAE. These free zone business setups have a lot to offer businessmen.
Zero import and export taxes and complete brand ownership are among the few benefits of free zones. However, free zones have some drawbacks, just like every coin has two sides.
Understanding the free zone company’s rules
You cannot use the license to run a business across the country.
You must register your business as a Mainland corporation if you are willing to accomplish this task.
This implies that you must transfer 51% of the shares you already possess to an individual or group of UAE nationals.
In addition to this, there are several industries in which a free zone corporation prohibits business.
You must carefully read the instructions and ensure that you do not break them.
Free zones in UAE offering affordable trade licenses
Few Free Trade Zones in the UAE provide businesses with reasonable Trade License packages that include a range of business advantages like first-rate office spaces, quick document processing, little paperwork, simple UAE residency visa processing, and more.
The Free Trade Zones assist business owners in quickly starting and expanding their businesses at a lower total cost. You can build a strong network and work with other people efficiently.
The best free trade zones in the UAE are given below. These zones provide reasonable trade license packages to investors who want to establish their ideal business in the UAE.
Sharjah Media City Free Zone (SHAMS)
Sharjah Media City Free Zone, also known as SHAMS, is located in Sharjah. Sharjah is also called the UAE’s cultural capital.
Sharjah Media City Free Zone is a place in the UAE that is a hub for media and creativity. So, SHAMS became the best option for new business owners.
The long-term goal of the SHAMS Free Zone is to set a standard for entrepreneurs. This Free Zone is all about using creativity to improve technology.
So, it opens doors for businessmen across the globe.
Jebel Ali Free Zone Authority (JAFZA)
Jebel Ali Free Zone is one of the best free zones in the world.
It is also an economic center for the Middle East and one of the UAE’s most important ports. It was set up in Dubai, United Arab Emirates, in 1985.
JAFZA gives businesses a lot of benefits, such as:
- 100% foreign ownership
- 100% exemption from income tax
- 100% exemption from corporate tax
- 100% exemption from import and export tax
Over 7,000 businesses from over 100 countries are based in this free zone.
These companies work in many different fields, such as cars, electronics, food and drinks, pharmaceuticals, chemicals, textiles, logistics, and transportation.
Businesses that want to grow in the Middle East region often choose JAFZA because of its strategic location and world-class infrastructure.
Ras Al Khaimah Economic Zone (RAKEZ)
RAKEZ is one of the most important investment hubs in the UAE. It is based in Ras Al Khaimah and helps businesses in both free zones and non-free zones.
These are the advantages of investing in RAKEZ:
- Super-fast and easy business setup processes
- 100% foreign ownership
- All government services in one place
- Free zone and non-free zone entity formations
- Plans to build on-site housing for workers and staff
Dubai Multi Commodities Centre (DMCC)
DMCC was set up to provide the physical, market, and financial infrastructure needed to set up a commodity marketplace in Dubai.
It is the best place to start a business in Dubai.
DMCC gives market participants a unique chance to trade in a wide range of commodities in four major sectors. These are:
- Precious commodities (diamonds, gold, colored stones, and pearls)
- Steel and base metals
- Energy-related sectors
- Soft agricultural commodities (tea, cotton, and others)
International Free Zone Authority (IFZA)
In one of the most business-friendly regions, IFZA helps you grow your business to new heights.
- Its strategic location in Dubai gives it top-notch access to the global market
- Easy access to business formation and management services in the Free Zone
- Business licenses can be obtained by setting up FZCOs or registering branch offices.
- Under one IFZA License, you can do professional, commercial, and industrial activities.
- You can also get a competitive general trading license.
- Transparent prices
- No NOC is needed from the current visa sponsor.
Set up your free zone company with Bizstart!
Setting up a business in the UAE free zone is one of the amazing moves for businessmen looking to enter the world’s best marketplace.
Bizstart, a renowned business setup consulting company in the UAE, can help you start your business efficiently. With our seamless consulting services, you can register your company within a few days.
Our professionals make sure the entire process of your company formation runs smoothly. Our in-field experts will guide you through every single process.
To get more information, you can contact our skilled consultants.