Many companies prefer to establish their businesses in Dubai’s free zones, as it offers various economic privileges for such companies. Therefore, Dubai becomes the perfect destination for many investors worldwide. Here in this article, we will tackle all the information you need to know about the process of Dubai freezone company setup.
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What is the Dubai Free Zone?
The United Arab Emirates (UAE) authorities offer more than 20 free zones in Dubai for investors and businessmen who intend to set up a company in the UAE. These free zones have many advantages that facilitate the process of setting up and operating a business in Dubai, such as efficient infrastructure, facilities that smooth workflow, and many economic privileges.
Benefits of Dubai Free Zones for Investors
- In Dubai free zones, the foreign investor could fully own the business set up in Dubai, regardless of the rules of business set up in the mainland, which requires UAE citizens to be your sponsor or partner in order to set up and operate their businesses.
- Dubai free zones have fast and easy company set-up procedures, helping the investor to establish and operate their businesses quickly.
- One of the most important economic privileges that Dubai free zones offer is complete exemption from corporate tax and income tax.
- Dubai free zones have advanced infrastructure with modern and smart offices and buildings that provide comfort to their employees to do their jobs quickly and efficiently.
- All companies that are located in Dubai free zones enjoy a distinguished commercial and logistical location, which paves the way for them to easily enter global markets.
- Dubai free zones have their own laws and regulations that comply with global standards and laws, serve the interests of foreign companies, and facilitate their work.
Types of Dubai Free Zones
Dubai has around 20 free zones that have the facilities and equipment to serve any industry efficiently. Here are the most common Dubai free zones:
- Jebel Ali Free Zone
- Dubai Financial Services Authority
- Dubai Auto Zone (DAZ)
- DAFZ INDUSTRIAL PARK
- Dubai Silicon Oasis Authority (DSOA)
- Dubai International Academic City (DIAC)
- Dubai Healthcare City (DHCC)
- Dubai World Trade Centre (DWTC)
Steps of Dubai Freezone Company Setup
We will explain the steps of setting up a company in Dubai free zones:
- Choose the suitable free zone
Dubai has 20 free zones; every free zone is designed for specific industries. Therefore, you have to choose the right free zone that is suitable for your business industry and activities.
- Determine your free zone company structure
Dubai free zones offer many legal structures for the companies. So, you have to determine the structure of your company from the following types:
- Free Zone Establishment (FZE)
- Free Zone Company (FZCO)
- Public Limited Liability Company (PJSC)
- Private Limited Liability Company (LLC)
- Branch of a Local or International Company
- Know the setup costs
The cost of a free zone company set up varies according to many factors, such as license type, office space, and number of visas. You can find more information about the cost of every company set up on the website of the Ministry of Economy.
The Process of Dubai Freezone Company Setup Online
UAE free zones provide a streamlined online process for completing the procedures of setting up a free zone company in Dubai. Every free zone has its requirements; however, we go through the common steps of company setup:
- Registering the company by submitting the required documents, such as a passport copy of the owner(s), address proof, personal photos, and a business plan.
- Obtaining a signed lease agreement for your rental office space.
- After you get approval for your documents, you can apply for a business license according to your business activities. Your license will be issued after the free zone authorities ensure that your business meets all the requirements.
- You can start obtaining visas for you and your employees through the services provided by the free zone authorities.
- The issued license will facilitate the process of opening a bank account to start your financial transactions.
- After completing the previous steps, your company is ready to be operated and grown globally.
Alsun: Freezone Company Setup Consultants Dubai
Alsun Bookkeeping and Taxation is a FTA-registered tax agency in Dubai that provides taxation, bookkeeping, and business consultancy services for companies in the UAE. Our team has the proper experience in providing such services competently. We have extensive experience with laws and regulations regarding business setup in Dubai to provide the proper assistance and consultancy for investors who intend to set up a free zone company.
Alsun stands out from other tax agencies in Dubai because of
- Its deep knowledge of Dubai’s free zones, knowing their rules and regulations.
- Comprehensive services that are needed for every business in the UAE.
- Cost-effective packages that lift the burden of the exorbitant costs of financial and legal consultants.
- Expert team of tax agents, financial consultants, and business setup consultants.
To set up your free zone company, book your free consultation now with Alsun Taxation and Bookkeep’s expert team.
Conclusion
The process of Dubai freezone company setup is on the mind of every investor looking to enter the global markets, taking Dubai as the starting point. Dubai free zones ease this process, as we tackle in this article by putting simple requirements and documents. For more information or free business setup consultants, please don’t hesitate to contact us.
FAQs
How to start a freezone company in Dubai?
The steps of starting a freezone company in Dubai are to determine the type of free zone that aligns with your business activity, know the cost, and prepare the required documents.
What is the cheapest free zone company setup in Dubai?
The cheapest Free Zone in Dubai is IFZA (International Free Zone Authority). To know the costs of free zones, you can check the website of free zones or the Ministry of Economy.
What is the difference between freezone and LLC in Dubai?
Freezone companies are the companies that are located in a freezone, have complete foreign ownership, and follow independent laws and regulations. On the other hand, LLCs are companies registered in the mainland and follow the local laws and regulations with the requirement of the presence of an Emirati partner to start their business.