We all have dreams and ambitions, and our professional career is the key to realizing them.
While some people prefer to be an employee, others need to begin their own journey and set up their own business to achieve their goals.
So, if your career plan is to start your own business, then choosing to set up in a Free Zone is the best business choice you can ever make.
Free Zones are designed to attract direct investment and boost international business by providing 100% foreign ownership to expatriates. If you are looking for total freedom “how to choose THE RIGHT Free Zone for your business in the UAE?”.
Benefits of Company Formation in a Free Zone
There are a lot of benefits to setting up your business in a Free Zone, and as explained above, the 100% foreign ownership is one of the first motivations pushing the entrepreneur to set up in a Free Zone.
But Free Zones also offer other advantages. Here are some of the mains reasons why you should initiate your business in Free Zones:
- Full foreign ownership: this means you can operate alone without an Emirati “silent” partner. You are the single owner and stay in control of your business;
- Free Zones are considered business hubs and allow you to quickly enter your products/services into the market. Free Zones are often specialized in industry or product types, but some of them are generalized and can accept almost any kind of activity;
- You have the right to repatriate the totality of your funds to the state of your origin: both profits and capital;
- 100% transfer of funds;
- There is no personal or corporate taxes on your income and gains: TAX FREE, everything your earn is for you;
- Export/import duty is very minimal making the Free zone very attractive and lucrative to penetrate. Free Zones businesses enjoy a 100% duty exemption on all exports to non-GCC countries but customs duties apply when you’re selling on the local and GCC market. If you want to move your goods from Free Zone to mainland you will pay taxes;
- There is a wide range of set up solutions in the UAE, be sure you can find the right fit for your business (visit our shop here). It is the perfect location for SMEs and start-ups;
- Readily available workspaces: a lot of options for warehouse and offices spaces are available within the Free Zones. Note that some Free Zone require a minimum office size, but most allow you to have a flexi-desk (shared workspace);
- Some laws in mainland are not applicable for a Free Zone. For example, employees of Free Zone entities have visa validity for 3 years as opposed to 2 years for employees of mainland companies;
- 100% confidentiality: your data is kept confidential by the free zone authority, no one can access it;
- The procedures are simplified and easy: employee recruitment, sponsoring family members, etc. ;
- The costs in a Free Zone are less expensive than for a mainland business. Although some Free Zones are more expensive than others, there is a Free Zone for everyone budget;
- Support and assistance: very smooth and accessible authority. There is no excessive bureaucracy to deal with.
Are you ready to start your business in a Free Zone?
With these insights, it is time to think seriously about a business set up in one of the 40+ UAE Free Zones, spread out across the seven emirates.
Although the rules and laws can be similar, each Free Zone is totally independent and different. You might face differences in the business environment and the services they offer. Choose your Free Zone wisely!
Don’t start this journey alone. Get rid of the anxiety and the hassle posed for newcomers.
As an authorized company registration agent, we have THE solutions to help you set up your business correctly and smooth your path through the registration process. Call us now +971 58 514 2021.
With FreeZoneMarket.ae you can even set up from the comfort of your home, find the RIGHT Zone HERE.