Your Ultimate Guide to Free Zones in Dubai in 2021
October 30, 2023 - 11:38 AM
Your Ultimate Guide to Free Zones in Dubai in 2021
Free zones in Dubai have become very popular destination for companies worldwide.
Free zones provide many advantages, such as access to seaports, airline terminals, and warehousing. Additionally, to encourage entrepreneurs, the UAE has introduced new laws that allow foreign companies 100% ownership of their business and exemption from all types of taxation.
A Limited Liability Company (LLC) and a Free Zone company are two different types of companies you can set up in Dubai.
To get approval for your trade or business name, you need to pay a one-time fee. Dubai requires that all businesses also have an office space in order to be legitimate. A Free Zone company also has to pay a bank guarantee, registration fees, and a local agent fee.
Ownership: One of the biggest perks of opening a business in Dubai free zones is that you retain 100% ownership of your company. Furthermore, you don’t even need a local sponsor or promoter for opening a company in the free zone. You can solely establish a company without unnecessary hassles.
Tax Exemption: There are places in the world where businesses pay a hefty tax to set up shops. But that’s not the case in Dubai free zones. Dubai offers you tax exemptions so that you can pocket all the profits that your business makes.
Own or lease property: Your business-related assets can be either purchased or leased. Dubai offers you all the flexibility you need to get your business off the ground.
100% Repatriation of Capital and Profits
Steps Involved in Starting A Business in a Dubai Free Zone
Starting a business in Dubai may seem like a daunting task. Here is a breakdown of the steps involved:
Determine the type of business entity: Choosing the type of business activity you want to do and the type of legal entity you want to form is the first step of a Dubai free zone company setup. Dubai Department of Economic Development (DED) offers a plethora of business opportunities that you can choose from.
Choose a trading name: You need to choose an appropriate business name that complies with the criteria spelled out by the government of UAE. Generally, your company name should not be offensive to the local sentiment and culture.
Apply for a business license: Once you have the trade and business name sorted, you can apply for your license. Your application form should include your business plan and a copy of your passport.
Choose an office space: You also have to select an office space. Your business consultant will be able to help you with identifying and finalizing your office space in an ideal location.
Get pre-approvals, register your business and get your license
Apply for a visa: You can apply for a visa while you are applying for your business license. That way, you can get your business license and visa together.
What Are the Different Free Zones in Dubai?
Dubai has over 30 free zones. Some of them are as follows:
DAFZA is one of the most vibrant free zones in Dubai. It houses over 1,800 registered companies and 17,000 professionals. For a company looking to open a branch in Dubai, DAFZA offers:
Dubai Design District is owned by TECOM Group and is specifically built for the design community. The free zone is open to businesses for startups, entrepreneurs, and luxury and fashion brands. It offers a creative ecosystem to forge Dubai’s name as a leading destination of design, art, and culture.
Launched in 2002, DHC is a free zone dedicated to healthcare. DHCC offers the most comprehensive range of services in healthcare, medical education, pharmaceutical distribution, medical equipment, and wellness all aimed at promoting medical tourism to Dubai.
DIC is the innovation and technology hub of Dubai that houses 1600 companies and 24,000 professionals. It offers ownership, taxation, and customs benefits to tech companies for 50 years.
The freedom and flexibility offered by DIC have attracted Fortune 500 companies like Facebook, Google, Linkedin, Microsoft, IBM, and many more.
DIFC is a free zone that happens to be the financial hub catering to 72 countries including Middle East, Africa, and South Asia. It comprises over 2,500 companies and close to 26,000 professionals companies making it the region’s largest financial ecosystem.
DSO is an integrated technology park that offers state-of-the-art infrastructure for anybody who wants to start a company in Dubai. It is located in the heart of Dubai Digital Park with ready-to-move-in office and living spaces.
DPC was launched in 2003 and is a business hub that aims to foster global and local publishing and printing industry. Formerly known as International Media Production Zone (IMPZ), DPC offers a vibrant community for media professionals.
Dubai South is an upcoming economic zone and was previously called Dubai World Central. Launched in 2006, It is a 145 square km city that includes Al Maktoum International Airport.
DSC is the media hub that caters to media production. Located opposite Dubai Motor City, the free zone has world-class production facilities and studios. Its offers commercial spaces, co-working spaces, and boutique studios.
DMC is a sought-after real estate hub for renting and buying property in Dubai. It’s a sports-themed free zone with residential spaces, business centres, theme parks, and motorsports facilities.
Jebel Ali Free Zone is in the western part of Dubai and is the world’s largest free zone. With over 7,000 companies operating in the free zone, it provides employment opportunities to over 1,50,000 people.
DMCC is the center of global commodities trading. It is located in the heart of Dubai and is an ideal location to set up and grow your business. DMCC was awarded ‘Global Free Zone of the Year’ six times by the Financial Times.
Cheapest Free Zones in Dubai
Although most of the free zones in Dubai offer a lot of benefits at a cost-effective price. There are some that are comparatively cheaper. They are:
Free zones are attractive for international investors, but the intricacies of the new laws may require external consulting.
Business consultants can help new entrepreneurs with their business ideas, such as setting up their business and providing ongoing support through accounting and other areas.
1. What Are the Types of Companies You Can Set Up in the Free Zones?
You can set up either of the following two types of companies:
Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
Free Zone Establishment (FZE)
2. What Are The Types Of Businesses You Can Open In The Free Zones In Dubai?
You can open many types of businesses in Dubai free zones. From retail, education, technology to hospitality - the opportunities are endless.
3. What is the PRO Services Free Zone?
Setting up your business is a tedious process because of the legal formalities and numerous paperwork involved. PRO services is a type of service provided by business consultants in Dubai to assist you in processing your documents to set up your business in Dubai. With the help of PRO services, you can sit back and relax while your consultant runs all the errands on your behalf saving you time, effort and money.
4. What is the cost of setting up a business in the Dubai free zone?
The cost of setting up a business in Dubai free zones varies drastically. Since there are over 30 free zones in Dubai, each with its own unique and specific criteria, it’s hard to estimate a definite figure. Schedule a call with your experts so that we can tailor an estimate based on your business expectations.
Foreign investors who acquire real estate in Dubai worth a minimum of AED 2 million can now apply for a 10-year Golden Visa, a remarkable opportunity provided by the DLD. This initiative has been implemented to encourage more investments in the Dubai property market and boost the economy.
The Golden Visa is an excellent opportunity for those
Here's what you need to know about it.
As is commonly understood, a Golden Visa is a residency permit valid for 5 or 10 years, that confers various advantages, such as the ability to reside and work in the UAE for a prolonged period, without the requirement of a local sponsor or employer. A Golden Visa presents investment prospects, elev
The UAE has made significant progress in promoting female entrepreneurship over the years. In the UAE, 77.6% of women-owned businesses (WOB) are run by people under the age of 40, according to a recent survey by NAMA Women Advancement in collaboration with UN Women.
The results of this study were published in the book "Women-Owned Businesse
According to E-commerce DB, the United Arab Emirates is the 28th largest market for e-commerce with an expected revenue of USD 11,782.3 million by 2023. E-commerce has helped many businesses gain access to the world market, allowing small businesses to expand their reach.
Setting up an e-commerce business has numerous benefits. Not only does it
CORPORATE BANKING
Opening a bank account for your company has many advantages. It contributes to the improvement of the company’s credibility, improves the financial management of the company, and offers protection for business funds, creating easier financial transactions. Clients of the company will feel reassured about its legitimacy, a
The United Arab Emirates mesmerizes with its incredible scenic beauty and unmatched modern infrastructure! It is impossible to believe it was once a vast desert with no amenities or life. However, the gracious rulers of the region had the vision and foresight to turn around the fortunes and make UAE a powerful and modern nation highly respected tod
The United Arab Emirates (UAE) offers a Golden Visa program for investors, entrepreneurs, and talented individuals looking to live and work in the country. This program grants long-term residency to individuals who make significant investments in the UAE, allowing them to stay in the country for up to 10 years and potentially even apply for citizen
The United Arab Emirates (UAE) has constantly been leveraging its limit to broaden the business scope. The Emirati Government's visionary leadership has aided in transforming the concept of business incorporation. Various segments and dedicated regions have been developed across the UAE to focus on specific business industries. Because petroleu
Business in the United Arab Emirates (UAE) has been growing to make many ex-pats into Business entrepreneurs. The investor-friendly regime has ensured that Dubai, Abu Dubai, and other emirates in the country are fertile for the growth and development of businesses. Consequently, the UAE witnesses one of the pinnacle enterprise locations around the
The idea of setting up a business in Dubai can be a lucrative opportunity for a company to broaden its reach and establish a reputable brand name internationally. You can benefit from Dubai's cutting-edge infrastructure, strategic location, easy access to nearby markets, and world-class connectivity whether you're a small, medium, or large
Dubai has been the flag-bearer of the United Arab Emirates's global progress for quite some time. The city provides expanding economic opportunities, diverse business start-ups, and investor-friendly policies to entrepreneurs from all over the world. Before you start forming your company, you must decide which free zone you want to operate in.
The United Arab Emirates (UAE) continues to attract more businesses around the world due to its strategic locations and business-friendly ambiance. To set up a business in Dubai legal procedures and documentation must be followed for ensuring the Legal Setup of your Business in Dubai. Once you've completed all of your legal procedures, starting
A business setup in Dubai can be a lucrative opportunity to expand the company's reach internationally and establish a reputable brand name. Whether you're a small, medium, or large business, you can take advantage of Dubai's cutting-edge infrastructure, strategic location, easy access to nearby markets, superior connectivity that makes
Trading is one of the most critical industries in the United Arab Emirates (UAE). According to new data, the UAE is the world's 25th largest exporter in the world. before that, we must see the trend. In 2014, Dubai was ranked first for airport connections to business districts and fifth for the most affordable city, making it a global 'City
The United Arab Emirates is one of the top trade and commerce destinations in the world. Authorities of Dubai have taken certain measures to boost the trade and commerce activities in the country to make the business hub of global trade. It has persistently seen trade and commerce growth in the past few years and it is continuing to do so. With a b
The first step in starting a business is to develop a winning business idea, but ideally, you will create a business that both interests you and fills a market need. When expanding your business in the city, you must raise awareness among the locals. It is critical to strike deals with local import and export dealers to maintain good connectivity.
Anyone Who is wondering to start a business in Dubai always considers the cities of the UAE as their first preference. For investors, the UAE has become a household name. As a result of doing business in the UAE, many residents have become successful entrepreneurs. The investor-friendly regime has made Dubai, Abu Dubai, and the country's other
When we look at how far Dubai has come in such a short period, it is easy to see why starting a business in Dubai is such an attractive prospect to many entrepreneurs. A business setup in Dubai is often a moneymaking chance to form a business, grow internationally, and build a reputed brand name. Whether you are a little, medium, or massi
Dubai is a grounded destination for business investors to step forward. Over the years, Dubai has become one of the most significant places to set up Business. From broad diversity in population to a flourishing economy, Dubai is a city of opportunities to large investors.
One of the attractions to set up business in Dubai is its tax r
The government in the UAE offers various incentives to Foreign business owners to register a business in Dubai. With the investments pouring in, there has been an increase in the number of companies in Dubai. The city's economy is flourishing, with no taxes, and their world-class infrastructure, business registration Dubai is on an all high. Al