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Dubai is consistently ranked as one of the top business locations in the world. Foreign nationals account for more over 80% of the population, and 35,000 new firms are anticipated to open each year. It’s understandable.
The benefits continue when you open up shop in a UAE free zone. Businesses in free zones have no currency limitations, can repatriate their capital and profits, and are immune from all customs taxes. On top of that, there’s a positive business climate and a variety of customised support services.
Why Emirates Free Zone Is The Top Choice?
The emirate is strategically located between East and West, with good connections to the world’s largest and fastest-growing emerging markets. In addition, the UAE continues to charge 0% tax on both corporate and personal income, with a VAT rate of 5%.
As a result of these advantages, establishing a business in a free zone is the most cost-effective and advantageous option to do so in this region. This is why, if you’re trying to get started in this field, a free zone is a good place to start.
What is the definition of a Dubai Free Zone Company?
Companies incorporated within designated economic zones are referred to as “free zone” companies. The UAE’s standard jurisdiction does not extend to these zones. Mainland firms are companies that are registered under the ordinary UAE jurisdiction.
Free zone businesses do not need any further approvals to trade because free zones are self-regulating. Free firms are also not obligated to rent real office space, with many opting for virtual, flexi-desk, and coworking options instead.
To deal with the local UAE market, free zone enterprises need a service agent, and in all situations, foreign investors can hold 100 percent of the company. Companies from the mainland are free to trade without the use of an agent, however 100% ownership requires approval.
How much does it cost to start a business in a free zone in Dubai?
The entire cost of establishing a business in the Dubai free zone is determined by a variety of factors. The price you pay might be influenced by a variety of factors, including the size and nature of your business and the zone you choose. Prices for a licence and visa package should start at AED 30,000.
Therefore, setup your business in Dubai, outside of Dubai, in emirates such as Fujairah, you may be able to locate more cost-effective packages.
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