In the context of Dubai, a free zone designates a specific locality within the city where businesses operate under distinct privileges and incentives. These zones are strategically created to entice foreign investments and stimulate economic growth, offering a business-friendly environment marked by lenient regulations, tax advantages, and the opportunity for 100% foreign ownership.
Different types of companies can leverage the city’s strategic geographical position, well-developed infrastructure, and global market accessibility by establishing their presence within a Dubai freezone. This approach has proven exceptionally effective in attracting foreign investments and nurturing entrepreneurial ventures, making substantial contributions to the diversification and expansion of Dubai’s economy.
Setting Up a Business in a Dubai Freezone
Embarking on a business venture in the United Arab Emirates (UAE) holds great promise for entrepreneurs and companies seeking to expand their operations. When it comes to launching a business in the UAE, one of the paramount considerations is the choice of location. While numerous options are available, UAE’s free zones have gained immense popularity due to their multifaceted advantages. Here, we will delve into the concept of free zones in the UAE and explore the exceptional services associated with free zones offered by Afdal business setup.
A free zone delineates a specific region within the UAE where foreign investors can seamlessly establish their enterprises and enjoy a plethora of benefits. These zones are meticulously designed to attract foreign direct investments and foster economic prosperity in the region. They provide a business-friendly environment characterized by streamlined regulations and procedures, making them an appealing choice for both local and international entrepreneurs.
Advantages of Freezone company formation
- No foreign exchange restrictions
- 100% Exemption from Taxes
- Logistics advantages
- Flexibility to operate 24/7
- Low freight charges
- Exemption from all import and export duties
Steps to start a business in the UAE freezones
1. Determine type of business
2. Trade name
3. Apply for business license
4. Office space
5. Get additional approval
Popular free zones in the UAE
DUBAI SILICON OASIS
AJMAN FREEZONE AUTHORITY
HAMRIYAH FREE ZONE
LOW COST FREEZONE
IFZA (International freezone AUTHORITY)
RAKEZ ( Ras Al Khaimah Economic freezone)