The Ultimate Guide to Freezone Business Setup in Dubai

Apr 7 01:59 2022 Alexis Rodgers Print This Article

Registering a Freezone Business in Dubai is a simple process. This guide will show you how to do it right.

Doing business setup in Dubai can be a great opportunity for your company. With its booming economy and strategic location,Guest Posting Dubai offers many advantages to businesses looking to set up shop in the region. In this guide, we will walk you through the process of setting up a business in a free zone in Dubai. We will cover everything from choosing the right free zone to getting your license and setting up your bank account. Many people are excited to hear about the Free Zones.

People who are looking to set up their business will not have to worry about different types of regulations to start their business. There are several different Free Zones to choose from, so businesses can find the perfect fit for their needs. There are a few reasons why company formation in Dubai's free zones is so popular. . It does not require going through the often lengthy and bureaucratic process of setting up a company in the mainland. Additionally, companies registered in free zones enjoy 100% foreign ownership, which is not possible in most other parts of the UAE.

They will have full control over their business operations. Finally, many of Dubai's free zones offer attractive tax rates and generous exemptions from corporate taxes, making them an extremely cost-effective option for doing business in this dynamic city.

The following are most prominent Free Zones exist in Dubai:

 

Dubai Media City (DMC):

DMC is a world-class free zone offering a unique mix of media, technology and entertainment companies an opportunity to benefit from 100% foreign ownership with no local partner involvement; zero import duties on production equipment, broadcast facilities & satellite dishes.

Jebel Ali Free Zone Authority (JAFZA):

JAFZA is the largest free zone in the UAE and is considered to be the Middle East's most important logistic, industrial and services hub. JAFZA offers over 1,800 business categories in 27 different sectors.

Dubai Airport Free Zone (DAFZ):

DAFZ has two locations in Dubai International Airport and one in Dubai Cargo Village at Al Maktoum Airport. DAFZ offers over 100 different business categories in 29 sectors.

Dubai Silicon Oasis (DSO):

DSO is the region's leading knowledge-based free zone, offering full infrastructure and facilities to entrepreneurs, innovators and technology ventures including website hosting, co-location services, trading floor space for companies requiring high bandwidth Internet access, shared office space and a wide range of IT amenities.

Dubai International Maritime Center (DIMC):

DIMC is a Free Zone located at Jumeirah Lake Towers, Dubai. It offers businesses an opportunity to operate from the heart of Dubai's maritime industry offering free zone benefits, including 100% foreign ownership with no local partner involvement.

Dubai Knowledge Village (DKV):
DKV is a fully serviced, technology and education-oriented free zone in the heart of Dubai Knowledge Park.

Jumeirah Lakes Towers (JLT):

JLT is a multi-purpose specialised free zone located on Sheikh Zayed Road between Interchange 5 & 6 offering companies, entrepreneurs and investors access to a wide range of flexible business solutions.

Dubai International Financial Centre (DIFC):

DIFC is the region's premier financial services, investment and business hub offering world-class infrastructure that caters exclusively to banks, investment funds, insurance companies, leasing companies, foreign exchange dealers, accountants and law firms looking for a regulated, secure and tax-neutral environment to do business.

Dubai Science Park (DSP):

DSP is a free zone that houses the region's largest science park showcasing cutting edge research facilities catering to biotechnology, material sciences, R&D, ICT & Life Sciences. DSP has over 75 world-class corporate tenants drawn from over 30 different countries.

Dubai Healthcare City (DHCC):

DHCC is a multi-disciplinary healthcare free zone offering companies the opportunity to benefit from 100% foreign ownership and capital repatriation; no local partner involvement, and zero import duties and corporate taxes.

Dubai International Academic City (DIAC):

DIAC offers international schools and colleges a world-class free zone environment to benefit from 100% foreign ownership and capital repatriation; no local partner involvement and zero import duties and corporate taxes.

Dubai Studio City (DSC):

DSC offers film, TV & production studios the benefits of 100% foreign ownership and capital repatriation; no local partners involved, zero business and income taxes and zero import duties on equipment.

Dubai Aviation City (DAC):

The DAC offers a unique platform for global aviation players who want to create their own maintenance, repair and overhaul (MRO) facilities or in collaboration with MROs that have already been established in the region. - Energy Zone: The Energy Free Zone was established as a specialized free zone under the Ministry of Energy to support the diversification of the UAE's energy balance and strengthen its position as a world leader in renewable energy. The benefits of an energy-free zone include 100% foreign ownership; a 99-year renewable lease.

Process of Setting up a Freezone Business in Dubai:

The first step in setting up a business in Dubai is to choose the right free zone. There are many different free zones in Dubai, each with its own set of regulations and benefits. When choosing a free zone, it's important to consider the nature of your business and the type of license you will need. Some free zones are better suited for certain types of business than others.
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Apply for license:

Once you have chosen a free zone, the next step is to apply for your license. This process can vary depending on the free zone you choose but typically includes submitting an application form and paying associated fees. It's important to note that not all businesses are eligible for every type of license. You may need to do some research into which licenses are available for your business.

Setup a bank account:

The next step is to set up your bank account. This process can also vary depending on the free zone, but most banks in Dubai offer special accounts for businesses operating in free zones. It's important to have a local bank account so you can easily conduct transactions in and out of Dubai.

Difference between Freezone and Onshore:

Onshore companies are regulated by the Department of Economic Development (DED) and must comply with local company laws and regulations. The main advantage of setting up an onshore company is that it is easier to get visas for foreign employees.

Freezones are located outside of the city centre and offer more relaxed company licensing and visa regulations.

Benefits of Free Zones in Dubai

If want to set up your business in Dubai then you can avail different perks and benefits easily.

Ownership:

After setting up your business in Dubai you can easily get 100% ownership of the company without any issue. Also, there is no need for you to get connected with any local sponsor and financer if you want to open your company in any free zone. You will not face any hassle as you can solely establish your company easily.

Exemption of Tax:

There are many regions in the world where you will have to pay a healthy amount of tax to set up your business or open a company. In Dubai, you will not have to pay hefty taxes to create your shops.

Conclusion

When considering which free zone business setup in Dubai is right for your needs, it's important to understand the qualifications you need to meet. This will allow you to better determine whether or not this program is a good fit for your company.

These include creating an account with the Department of Economic Development (DED). Once registered, businesses can enjoy benefits such as freedom from double taxation and easier transfer of ownership shares while operating within one base currency.

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About Article Author

Alexis Rodgers
Alexis Rodgers

Alexis Rodgers is a freelance writer for different platforms and the website which is integrated with them. He has been doing Technical and SEO writing for 5 years and providing unique and fresh content to boost the organic traffic on the company's website.

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