How do Free Zones Help in Setting up a Business in Dubai?
Dubai has always been a fantastic destination to set up a business. One of the world's largest and fastest emerging markets, the government encourages and supports business. There's another important reason why they are setting up the business - Free Zones.
What are Free Zones?
Free zones, also known as free trade zones, are economic areas with special tax fee status to promote import and export goods without paying customs. In Dubai, there are places like seaports, airports established as free zones for trading opportunities.
Read Your Ultimate Guide to Free Zones in Dubai
Benefits of Free zones in Dubai
If you are looking to set up your business in Dubai, you're in for some attractive benefits. Some of them are
Easy Setup: The setup process in most free zones is simple. In the application process, you have to choose the free zone depending upon the business's activity; the whole process usually takes a week or two.
Complete Ownership: One of the most significant benefits of setting up business in free zones Dubai is that you will have 100% ownership of your company. You don't require a local sponsor to set up the company in free zones.
Tax Exemption: Free Zones in Dubai provides 100% tax exemption on corporate and income tax, so you can have all the profits that your business makes.
Repatriation benefits: Free Zones in Dubai are eligible for full repatriation benefits on capital and profits, including financial assets.
Own or Lease Property: You can either purchase or lease the business-related property; free zones in Dubai provide all kinds of mobility you need to launch your business smoothly.
Labour Recruitment: In the Free Zone, Companies can manage labour recruitment paperwork easily in a cost-effective manner.
Import and Export Exemption: Import and Export duties are not restricted to the free zone territory in the UAE. It encourages international trade and helps your business more.
Thus, if you are also planning for Company Formation Service In Dubai in any UAE Free Zones, it will be a great idea to do lots of initial research. An authorized company registration service provider helps you to start your own free zone company in UAE anytime.