10 Nov Free Zones Law in the Emirates
Also, the government of the United Arab Emirates fully believes that the facilities it provides are what attract investments and businessmen to establish their companies on its lands. For more of these facilities, the UAE government decided to allow electronic work to complete many transactions related to establishing companies. Where you can communicate with the economic development departments in most of the Emirates of the country electronically, Without the need to go personally to the workplace in the Development Department.
To obtain these approvals for the establishment of companies, the investor must follow up with the relevant authorities concerned with the field of work he wishes to establish.
investment attraction factors
There is also a notable attraction which is the lack of taxes on income for individuals and corporations. Which makes the UAE a global destination for investment. To further attract investors, The state has passed a law to regulate the work of free zones in the Emirates so that investors can avoid any legal complications in the future. All investors must look at all aspects of the law and study it thoroughly before starting to make any investment decisions, as the United Arab Emirates does not allow any manipulation or negligence in applying the law.
Constant knowledge of business and corporate laws is one of your duties as a business owner in the UAE. In order to keep up to date with developments, And avoid any situations that may negatively affect your facility, Among those systems are the systems that govern practical activity. and consumer rights systems, intellectual property rights and systems that protect your rights, and the rights of employees and workers in your facility, and economy in the various emirates of the country, health, environment and safety systems, And regulations for free zones or specialized economic zones. and regulations for the geographic regions in which it operates, Both areas of development departments.
In addition, the laws concerned with regulating business and economic activities are generally applied to free zone companies. Except for Federal Law No. (2) of 2015 regarding commercial companies, which applies to commercial companies established within the country. Free zone companies are bound by the laws related to the type of economic activity in terms of its practice. property protection, health, safety and environment systems, In addition to the applicable instructions in the concerned free zone. In this, it is possible to rely on a company to help you facilitate the procedures for establishing companies, such as Itqan Company , which will provide you with legal and financial advice, In order to advance the work and accelerate its pace.
Why should you open a company in the free zone?
The UAE has announced that free zone companies within the borders of the UAE have special treatment. It is different from companies established in any other region.
The free zone has many advantages that made it different from other places, as it is characterized by:
- Tax exemption on all commodities and companies in which they are established.
- exemption of goods from customs duties, Which makes the price of all things lower than their counterparts in other regions.
- Ease of procedures for establishing companies.
- The ease of owning the company, even if you are not one of those who hold the UAE nationality, and there is no need for a partner or sponsor from the UAE.
The United Arab Emirates includes many specialized economic and industrial free zones. Among the most famous of these areas, for example, but not limited to, is the Jebel Ali region in the Emirate of Dubai, which is considered a global hub thanks to its central location between east and west. Being the navigation stopping point for world trade traffic, In addition to Khalifa Industrial City (Kizad) in the Emirate of Abu Dhabi, which is one of the most prominent industrial cities in the world. a center for industry, logistics and trade, Thanks to its wide area and strategic planning methodology, And many other industrial areas in the rest of the United Arab Emirates, Noting that the Higher Corporation for Specialized Economic Zones is the largest operator of free zones in the Emirates.
What types of companies can investors establish in the United Arab Emirates?
It should be noted that investors wishing to establish these types of companies must own a partner who is a citizen of the country (the United Arab Emirates) or a citizen of the Gulf Cooperation Council countries, There are many types of these companies available for incorporation in the United Arab Emirates as follows:
- Solidarity and simple recommendation.
- Sole proprietorships, both industrial and commercial.
- Businesses that have a home business license.
- Small and medium enterprises in Dubai
Conclusion
One of the advantages of the free zone in Dubai is that it is suitable for any type of business. It also welcomes hosting different types of companies. It is also worth noting that all free zones allowed 100% foreign ownership and full return of capital. In addition, it is the “Dubai Multi Commodities Center” that provides the effective establishment of a community of start-ups, small companies, medium-sized companies, and large companies, It also provides training courses and networking events from time to time and to enhance the value of the work.