COMPANY IN THE UAE FREE ZONE
Free zones in the UAE are limited territories in regions that have a special legal status in relation to the rest of the territory and preferential terms for entrepreneurs. In fact, this is a zone with no taxation. By their type of activity free zones are divided into trade, industrial and service. Constant progress and the development of free economic zones attract more and more businessmen from all over the world every year, as the high level of life and security in the Emirates, as well as simplified conditions for the registration of companies, contribute to the rapid development.
Advantages of company registration in the free zone:
1. 100% ownership of the business, since the owner no longer needs a local sponsor
2. Absence of duties on imported or export goods
3. Obtaining a residence permit and a resident visa for the owner of the company and personnel
4. There is no currency control completely
Free zones are mainly located in the most developed Emirate - Dubai. There are also free economic zones in other Emirates - Abu Dhabi, Ajman, Sharjah, Fujairah, Ras Al Khaimah and Umm Al Quwain. Each zone has its own line of business, which should be taken into account when opening a company.
Dubai Emirate is the most expensive and prestigious free zone in Dubai:
1. DMCC - Dubai multi-industry commodity exchange, where it is possible to design all types of
trade licenses, including jewelry.
2. Dubai International Financial Center - only here you will get a license for banking, financial, insurance, asset management.
3. Dubai Silicon Oasis - the area is popular for the registration of IT companies, engineering and consulting.
4. Jebel Ali - is located next to international trade hubs, so it is the most suitable for logistics companies.
5. The Dubai airport free zone authority - located near the main airport in Dubai, is suitable for trade operations.