30 Jun Dubai Free Zone
Dubai Free Zone The United Arab Emirates is one of the most important trading countries and opens up a large market for investors and business owners. And in support of the efforts of the UAE government and the implementation of its clear, declared and established vision after a deep study of the requirements of investment markets and the nature of various commercial and financial businesses, The government has established more than fifty free zones. It enabled investors to establish businesses in free zones. The free zone in Dubai in the UAE provides investors with many jobs such as storing, manufacturing, packaging, packaging, distribution and re-export of goods. It also provides many functions for service companies such as banks, financial services and business offices.
The state has paid attention to this aspect for thirty-five years. The first free zone was established in 1985 in Jebel Ali.
This was the correct beginning on which international standards were built and the model by which many free zones were established in the UAE.
Thus, Dubai has become one of the leading cities in the field of investment in free zones, as it offers privileges of special encouragement.
What is the free zone?
The free zone in the United Arab Emirates is simply an economic zone launched by the UAE government to support the economy, labor market and investment.
The free zone is characterized by several commercial advantages that make it different from other investment places. Commercial free zones are usually established near the political borders of large neighboring countries or near international ports or airports.
This is in order to make the best use of the ease of movement of entry and exit of goods and to attract investors and business owners to work in an environment free of routine procedures, obstacles and bureaucracy. The vision of the Emirates was, as usual, that it is necessary to enact laws legislating the work system and facilitating procedures in free zones. The United Arab Emirates has enacted a set of laws and regulations that suit and suit business requirements, regulate them and legislate their practice in a flexible manner that helps business owners and investors to overcome all obstacles that they may face in another country. The UAE has issued some laws and legislations within the framework of foundations and principles that are based on the rules of fairness and respect for the rights of all dealers in the commercial regulations and laws that govern economic establishments and their activities in the UAE.
What are the features of the free zone in Dubai?
The aim was to establish free zones within the borders of the United Arab Emirates, It is to attract investors, increase investment, and open new markets and work environment in which systems and legislation prevail to facilitate work and get rid of bureaucracy that prevails in different work environments in most other countries. Some of the features offered by free zones that give them privacy from other business zones are: following:
- Corporate and personal tax exemptions.
- Customs benefits and other incentives for foreign investors.
- Freedom to dispose of the profits in full, without any decrease.
- Possibility of no restrictions on monetary transactions.
- The possibility of full ownership of lands and companies by up to 100% for foreigners.
- Freedom to choose employment without being bound by the rules and laws of sponsorship and usual employment.
- Customs and tax exemptions on exports and imports for investors in UAE free zones, with their distinction and diversity.
These special rules and regulations have been laid down by the government to establish such free zones in Dubai. In addition, opening a company on the mainland requires the presence of a national sponsor at a rate of 51%.
Although this law was amended in 2018, However, many investors prefer setting up a company in the Dubai Free Zone due to the tax advantages mentioned above.
What are the prohibitions for trading goods in free zones?
The government of the United Arab Emirates allows the circulation of all goods with all the privileges granted by free zones within the UAE borders. But there are some prohibitions in trading goods, This is something that the state does not tolerate. It includes the following:
- All types of military weapons, ammunition and explosives, except those licensed by the competent authorities.
- every flammable commodity, except for operating fuels, and goods permitted by the authority supervising free zones and duty-free shops, Within the conditions set by the competent authorities, Refer to the Department of Economic Development of the Free Zone in Dubai, For more information and statements.
- Goods in violation of the regulations related to the protection of commercial, industrial and literary property, And artistic.
- drugs of all kinds, and its derivatives.
- The origin of the goods is from a country that decides to boycott it economically.
- Radioactive materials.
These materials are commercially prohibited in the free zones in the Emirates, as they believe that the free zones are commercial zones whose establishment aims to increase commercial traffic and attract internal and external investments. The Emirates has provided large commercial facilities to investors, the possibility of owning land and many tax and customs exemptions in order to stimulate labor movement, establish companies and attract capital. It is not intended to facilitate the entry of materials that may harm society. The UAE is working to build a healthy, conscious and educated society to form future conscious and honorable generations. This is the perfect investment.
المدة الزمنية لإنشاء الشركات في المناطق الحرة في دبي:
The period of time that an investor or businessman needs to establish his company in one of the free zones ranges between one and two months. The possibility of accelerating this process depends on the speed of providing the required papers and documents, as well as the payment of fees and costs by the owner or investor of the free zones in the Emirates.
الوثائق والتراخيص المطلوبة لإنشاء الشركات في المناطق الحرة في دبي
Every investor wishing to establish a company in one of the free zones in Dubai is required to submit an application that includes a set of documents and papers, among the most important of which are:
- صورة من جواز السفر
- ملخص المشروع
- الوثائق القانونية اللازمة
- الاسم التجاري
After indicating approval of the application, The investor must begin the process of identifying the required licenses and products.
Pay fees and charges ranging from 2,500 to 9,000 AED, depending on the number of shareholders involved.
If the company enjoys a broader range of products and services that it offers, Fee costs can reach up to AED 30,000 for obtaining a general trading license.
Mastery
Itqan provides all the assistance and advice that any investor who wishes to start working in one of the free zones in the United Arab Emirates may require, and a whole team of its members follows up all the requirements required to start working in the Emirates with the aim of facilitating business for investors and preserving their time and money.