How to start a business in Dubai free zone?
Starting a business in Dubai has become increasingly popular among investors due to its thriving market and investor-friendly laws. Whether you’re a budding entrepreneur or an established business, Dubai offers equal access to every investor. When it comes to starting a business in mainland Dubai, however, investors have to choose a local partner, which can be a turnoff for many. Fortunately, free zone company formation in Dubai has become a popular choice as it provides hassle-free access to various resources and tax benefits, among other things.
A free zone company in Dubai is a special economic area where an investor can enjoy special tax-free status and trade conditions that allow for the manufacturing and import/export of goods without having to pay customs duties. Free zones have been established at strategic locations like seaports and airports to help investors increase their trading opportunities. Each free zone has been set up for a particular business activity, providing targeted benefits for each sector.
One of the biggest advantages of a free zone business in Dubai is the ability to own 100% of the business without the need for a local partner. This allows investors to have complete control over their business operations and the ability to repatriate all profits earned. Additionally, tax-free business zones and the absence of any duties on goods make Dubai’s free zones a lucrative option for investors.
Investors in Dubai’s free zones also enjoy the benefits of no foreign currency exchange controls and no limits on fund transfers. The energy needs in all free zones are very inexpensive, making it a cost-effective option for businesses. The process of applying for a business license is easy and office spaces are available for sale or rent in abundance. Obtaining visas for skilled workers is also affordable, and there are no restrictions on office hours, allowing for 24/7 operations.
Overall, starting a free zone company in Dubai provides a wealth of benefits for investors, making it an attractive option for those looking to start or expand their business in the UAE.
Advantages of establishing a Free Zone Business in Dubai include:
- Complete foreign ownership as no local partner is required.
- Ability to repatriate the whole of the profits earned.
- Tax-free business zones with no obligation to pay any kind of taxes.
- No controls over foreign currency exchanges and no limits on funds transfer.
- No duties charged on any type of goods.
- Inexpensive energy needs in all Free Zones.
- Easy and streamlined process for obtaining a business license.
- Abundance of office spaces available for sale or rent.
- Affordable and easy to obtain visas for skilled workers.
- Ability to operate offices 24/7 with no timing restrictions.