Freezone Company Setup

SET UP A COMPANY IN UAE FREE ZONES

Understanding how to decide if a Freezone company set up is right for you, firstly you need to have a better understanding of how free zones works. Free zone in the UAE are special economic trade zones that offer 100% Ownership and most offer Tax Exemptions to foreign & expatriate investors in the country.

Companies within the UAE Mainland require the involvement of an Emirati national, either taking on the role of a Local Partner or Service Agent. Freezone’s provide investors an alternative, allowing them to set up their businesses in Dubai with 100% rights.

With about 37 free zones in the UAE, investors can choose the ones that fit their business activity requirements and financial budget.

Setting up a Free zone entitles you to:

  • 100% Ownership.
  • To open a business bank account in Dubai.
  • 100% Confidentiality.
  • 100% Tax Exemption, with some exclusions.
  • Engage in business internationally.
  • Trade freely within their own Freezone and other free zones within the UAE.
  • Lease Property.

THE PROCESS FOR COMPANY FORMATION IN FREE ZONE

Each Free zone has its own requirements for setting up under them. However, the basic process remains as below:

  • Firstly, select the right legal structure within the Free zone:
    • Freezone Company Establishment (FZE).
    • Freezone Company (FZC).
    • Branch Office.
  • In the meantime, determine the type of license required for business activity:
    • Commercial License
    • General Trading License
    • Consultancy License
    • Industrial License
    • Trading License
  • Further, find an appropriate Free zone that offers the business activity and license your setup requires.
  • After that, find office/desk spaces and other facilities within the Free zone.
  • Then, understand the costs and fees involved in setup.
  • Create a Business Plan for the proposed business in Free zone.
  • Submit application to concerned Free zone authority.
  • Make payment to Free zone authority on securing approvals.
  • Finally, signing agreements and receive a license for your newly formed Free zone company.

Read more about the pros & cons of Free zone setups to find out if it is the right option for you.

For Freezone company set up, you can contact our experts for a free consultation. We will help you in selecting the right free zone based on your business requirement and financial budget.