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What is UAE Free Zone and Your Best Free Zone Options
UAE is a center for economic development, creating numerous opportunities for local and international investors. Business-friendly policies, UAE residents’ entrepreneurial zeal, and a visionary government are the main reasons behind the UAE’s economic progress. The country offers low tax rates and is situated strategically in the middle of the world’s fastest and most significant emerging markets. Therefore, it is the perfect spot for any investor to establish a business. Let’s dig deeper into what is UAE Free Zone.
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What is UAE Free Zone
Free Zones, also called free trade zones, are economic areas that allow trading goods and services at privileged customs and tax rates. Initially, they were rolled out to enhance foreign business in those areas by providing various benefits, like full foreign company ownership. There are 50+ free zones in the UAE. Over time, these free zones have advanced to offer more benefits to the companies, making them more favorable investment zones for investors.Â
Choose UAE is an avenue for businesses to flourish in the UAE free zones as they provide a one-stop-shop for starting a company to running a business.Â
What are the Benefits of Establishing a Business in the UAE Free Zones?
Choosing UAE’s Free Zones to set up your business comes with numerous benefits. The following are some key reasons you should choose to invest in a free zone:
- Full Foreign Ownership:Â When you establish a company in a free zone, you have 100% ownership of your business. Therefore, you do not have to work with any local partner.
- Fantastic Tax Regimes: Free zone companies are exempted from export and import tax and can transact without any currency restrictions. Also, they are charged 0% personal and corporate tax, making it one of the most compelling reasons you should select a free zone.
- Fast-track Setup Processes:Â In most free zones, the business setup process is straightforward. The application process primarily depends on your chosen free zone and business activity. However, you only need to provide basic documentation like business paperwork and a passport in most cases.
- Business Support: Most free zone authorities provide support during the business setup process and beyond, making it easier for the investor. They will help you in the visa application process for your family, domestic staff, and shareholders, easing tension during the setup process.
Choose UAE can help you obtain the right free zone license for your business. Our Company Formation Specialists will help you decide which free zone you will benefit from the most.
Best Free Zones to Consider in the UAEÂ
1. Meydan Free Zone
Meydan is Dubai’s latest free zone that offers entrepreneurs everything needed to establish a profitable business venture, giving startups a competitive edge in a premium Dubai location. It is a world-class society situated in the palatial Meydan hotel with a view of the world’s famous Meydan Racecourse known for hosting Dubai’s world cup. Companies in Meydan free zone operate as LLCs and are private to a secure, vibrant, and well-connected networking community.
2. Sharjah Publishing City (SPC) Free Zone
Sharjah Publishing City (SPC) was established in 2017. It is the first free zone dedicated 100% to serving worldwide media and the publishing industry. It offers simple and flexible company setup packages, making it one of the fastest-growing free zones. With top-class infrastructure and equipped offices and workspaces, Sharjah free zone cements its position as a top investment destination for anyone looking to invest in the UAE.
3. Sharjah Research and Technology Innovation Park (SRTIP) Free Zone
SRTIP is a specialized free zone that focuses on technology innovation and research. It is the startup hub where many innovators and startups test their new technological ideologies and projects. Sharjah research and technology innovation park has several business incubators that support startup growth in the area. It provides numerous business opportunities for investors, including trading, media, and consultancy licenses at the cheapest cost.
4. International Free Zone Authority (IFZA)Â
This free zone has become famous in recent times, and it is among the most economically free trade zones for business setup in Dubai. IFZA provides an affordable setup process for entrepreneurs and startups. You can get different business licenses for your business, such as trading, commercial, service, and e-commerce licenses. What’s more, you do not need to have a physical office to be allowed to operate a business in IFZA, making it cost-effective.
Establishing your business in the UAE’s free zones is simple. Once you choose which jurisdiction would benefit your business the most, you’re good to start trading in the UAE. So, what are you waiting for? Set up your business in the free zone today to start reaping the gains that come with it!
How Can Choose UAE Help
Still go questions about what is UAE free zone? Our dedicated team of professionals can help you with a wide range of end-to-end services from licensing to running your business.
- Cost-Effective License Packages: Our license packages are amongst the lowest in the market. Ultimately, we don’t charge license processing fees, making us the best choice for your business setup.
- Efficient License Processing: We help you obtain your license and choose the right jurisdiction for your business with our impartial business setup advisory. Enjoy fast and hassle-free processes with Choose UAE.
- Visa Applications: Our PRO services with dedicated Government relationship officers will help you with documentation from A to Z and handle visa applications for you.
- Other Services:Â Our business support services will help your company gain a competitive edge in your chosen industry, with our startup foundations like Corporate bank opening, branding and logo design, company email and domain registration.
Contact our Free Zone Company Experts and schedule a free consultation today.Â
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- Trustworthy Reputation
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- Dedicated Support
