— Posted in Business
Information about the Free Trade Zones in UAE
If you are considering starting a business in one of the Free Trade Zones in UAE, you must understand that there are dozens of Free Zone authorities throughout the UAE. Each one of these Free Zones has their own regulations that may differ from Free Zone to Free Zone. This is why you must have proper information about all the Free Trade Zones in UAE before deciding on an RAK Free Zone company setup.
Today, you will find independent Free Zone authorities in every Emirate of the UAE that will be offering state of the art facilities and best business opportunities for foreign investors. But, it was Dubai who took the initiative in 80’s to attract foreign investors to contribute in its economy. Jebel Ali Free Zone was the first Free Zone authority that enticed international investors to invest in UAE.
The unmatched features and facilities of Free Zone authorities attracted entrepreneurs from all around the world. Phenomenal success of Jebel Ali Free Trade Zone pushed Dubai to offer more Free Trade Zones in the Emirate to promote foreign investment in all major sectors. Soon other Emirates realized the role of Free Zones in the growth of economic activities for the Emirate as well as for UAE.
Free Zone authorities allow investors have complete ownership of their businesses. Minimum restrictions and significant relaxations in taxes and duties make Free Trade Zones an ideal place to invest. Moreover, Free Zones offer easy and stress free company formation facilities for those who want to invest in UAE by establishing a business in Free Trade Zone.
You will also have to be sure that what legal form of company suits best for your business. Following are the different forms of companies that you can choose from to setup your business in UAE.
1- Free Zone Company
2- Free Zone Establishment
3- Branch Company
Advantages of setting up a company in a Free Trade Zone
1- You will not have to look for a UAE national to add as a partner for the formation of your company.
2- You will enjoy 100% ownership of your company which will provide you complete control over your business.
3- A number of benefits on taxations and custom duties.
4- You will enjoy the freedom of engaging in more than one business activity on the same trade license.
If you feel that Dubai Trade Free Zone is not the right choice for your business you can look for other options like Fujairah Free Zone company setup.