Set up a Business in Dubai Free Zone
Dubai is the largest emirate (city) in the United Arab Emirates -UAE, situated in the Persian Gulf. It is considered a popular and attractive destination for tourists and entrepreneurs alike as it enjoys many perks that are not easily found elsewhere.
To start with, Dubai, and the UAE in general, has a low tax system. It does not levy income tax on individuals, and only 5% Value Added Tax (VAT) is levied on a majority of goods and services. Moreover, The taxation system is satisfactory especially for business persons interested in performing the activities in the free zones of Dubai where there is no corporate tax.
Dubai has an advantageous strategic location serving the fastest emerging markets that have the highest rates globally. In just 30 years, Dubai went from the beginning of the United Arab Emirates in 1971 when it was a small trading hub, to the leading commercial city in the Middle East. Over the last 10 years, Dubai has expanded amazingly into trading, manufacturing, and tourism, which now dominate the country’s economy.
Dubai’s strategic location is also beneficial for trade as there is a big growth towards Africa and imports from the East and China. And more global companies are establishing their Middle East headquarters in Dubai.
Moreover, Dubai has propelled forward with enterprising free trade zones and regional business parks like Dubai Media City, Dubai Internet City, and Dubai International Finance Centre, making it the regional hub of the Middle East, one of the richest regions in the World.
“Free Trade Zones” or also known as “Free Zone”, in simple terms means a special economic zone where business owners get to keep % business ownership and can be exempted from tax. In this case, as a business owner, one can also keep all the profits accrued and pull them back into your business.
7 Reasons Why To Start a Business in Dubai Free Zone
- Tax-exemption – Dubai is offering a tax-exempted environment, unlike other cities which are always implementing new tax regulations. This lets you invest your money and rope in maximum profits and benefits.
- Ownership – Under Free zones, you get 100% ownership of your business, unlike the Limited Liability Company (LLC) clause where your stake as a foreigner is limited. Moreover, while other business setups require you to have a local Emirati sponsor, under the Dubai Free Zones laws, a single individual can set up the business.
- Ownership and lease options – Eligibility and perks of 25 years of lease options, having assembling and production facilities, and warehouse facilities.
- Indulge more than one activity – You are not restricted to carry out just one business-related activity.
- Bank account rules relaxation – You can open a bank account in your name in Dubai.
- Reasonable renewal fees
- Flexibility – end at your will and discretion
Which are the Free Trade Zones in Dubai?
- Dubai Academic City
- Dubai Airport Free Zone
- Dubai Biotechnology & Research Park (DuBiotech)
- Dubai Car and Automotive City Free Zone (DUCAMZ)
- Dubai Design District
- Dubai Gold and Diamond Park
- Dubai Healthcare City
- Dubai Industrial City (DIC)
- Dubai International Academic City
- Dubai International Financial Centre
- Dubai Internet City (DIC)
- Dubai Knowledge Village
- Dubai Logistics City
- Dubai Media City
- Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
- Dubai Outsource Zone
- Dubai Silicon Oasis
- Dubai Studio City
- Dubai Techno Park
- Dubai Technology and Media Free Zone
- International Media Production Zone
- Jebel Ali Free Zone
- Economic Zones World
- Dubai South or DWC
- Dubai Science Park
This is one of the first free trade zones on the territory of the United Arab Emirates. It is considered to be the most successful government project that combines the largest transportation hubs in Dubai.
Dubai Technology, Media and Electronic Commerce Free Zone (DTMCFZ)
DTMCFZ is an international center for the development of telecommunications and information technologies. Companies engaged in the field of the Internet, modern telephony, international communication, etc. have already opened or are still eligible to set up companies in Dubai and for representation offices in this FTZ.
Dubai Airport Free Zone Authority
Situated close to the International Airport in Dubai and part of the airport. This is the best choice for companies, which require close interaction with air cargo centers and facilities and are involved in international trade.
Dubai Cars and Automotive Zone
This FTZ is located in the district Ras Al Khor and the main focus of this free trade zone is the export of used vehicles to the markets of the Asian and African region. The advantageous location of the zone provides open access to all major transport hubs of the UAE.
Gold and Diamond Park
This FTZ specializes in the sale of jewelry and precious stones. The benefits of this area are ideal for organizing the international jewelry business. Office and commercial space premises, modern communications, tax-free, and modern shopping areas attract here the most famous jewelry companies in the world.
Home to many international companies in the field of medicine and healthcare. moreover, Due to the presence of this FTZ healthcare of Dubai and UAE in addition to the existing ultra-modern hospitals on the mainland, has received a new high level of service and development.
This is only brief information that we have provided only some of the most popular free trade zones in Dubai UAE. If you are thinking of starting a business or thinking of a company set up, get in touch with ITQAN and see how you can easily obtain your trade license. Then you will want to determine if you want to set up a mainland company, an offshore company, or start a business in Dubai free zone.
How to Start a Business in Dubai Free Zone?
At ITQAN we are ready to guide you on how you can start a business company registration in Dubai FTZ. We have a team of professional business consultants that are experts in the industry and will walk you through our easy 3 step business setup program. ITQAN is a prominent business setup consultancy based in Dubai and we have helped hundreds of foreign investors to set up a company in the UAE and made their process to obtain a visa very simple. ITQAN is a Business Consultancy with a focus on communication and providing creative business solutions to our partners regarding company formation in Dubai both mainland and offshore. We are established in the emirate of Dubai in the UAE. Setting up a company in the UAE has never been so easy and mastering it makes it easier. If you are looking for a business partner to facilitate your business formation in the UAE and launch your dream platform without any hassle, contact our team for assistance. Our team of consultancies, admins, and business associates will work with you to seek insight into your business and adapt our solutions to your requirements, from obtaining a visa to getting a license. At ITQAN our work ethic lends us the advantage of being nimble on our feet; our team will be near you at all times to anticipate your needs, and offer services and solutions to steer and promote your business visibility.