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Freezones are the special economic zones that in a country provide multiple benefits to businesses and residents regarding the various economic aspects. Freezones provide tax benefits, business setup benefits, licensing benefits, etc. to the businesses.
For businesses interested in a freezone business setup in UAE, the process is even more advantageous due to Dubai’s strategic location, robust infrastructure, and business-friendly policies. These zones empower companies with 100% ownership, no import or export duties, and simplified customs processes, making them ideal for new ventures and expansions.
In the UAE, there are around 40+ free zones, which allows the entrepreneurs to have multiple benefits. These zones present highly efficient infrastructure and distinct services that ensure smooth work. Dubai is a hotspot in the global economy thanks to its network of free zones. These free zones are there to encourage investment and growth while providing a favourable environment for companies operating there. Setting up a business in Dubai free zones is the right choice if you are an entrepreneur.
These are the 9 reasons why you should start a business in the UAE free:
Dubai free zones are most attractive to entrepreneurs because they allow them to have full ownership of their business. The mainland also allows this for some businesses, but free zones are designed to foster foreign investment. Which presents many added benefits. This allows stakeholders to have complete control over their endeavours without local intervention or ownership. This also makes it easier to set up and operate a business on your own.
In financial terms, repatriation means the conversion of capital and profits earned from abroad to one’s home country. Companies operating in the UAE’s free zone have the privilege of 100% repatriation of profits and capital, meaning they can freely take their earnings and initial investment back to their home country without any government restrictions. UAE provides a robust and supportive platform for growing your enterprise while ensuring that your capital remains under your control. For businesses looking to establish or expand their presence in the Middle East, the UAE’s repatriation policy is a clear advantage.
Freezone business setup in UAE is designed to be as simple as possible. Entrepreneurs can set up their business with quick processing time for licenses and permits. Free zones also have comprehensive administrative services for convenience. Some free zones even have specialized services that are tailored to business in specific sectors.
Operating in Dubai gives you access to a thriving business environment. Which is also a key place in the global economy. Dubai is a global business hub, and setting up a business in a free zone will give you access to international exposure while benefiting from Dubai’s established infrastructure. These free zones have multinational corporations, startups, and service providers creating an ecosystem that allows partnerships, joint ventures, and new opportunities.
Free zones offer competitive pricing in various aspects, making them accessible to all kinds of businesses. Free zones in Dubai provide affordable solutions in license and registration, cost-effective visa services, elimination of the need for a local sponsor, and so on. There are also industry-specific zones with tailored costs, like Dubai Media City for media and entertainment, Jebel Ali Free Zone (JAFZA) for logistics, etc.
Companies operating in free zones are exempt from paying corporate tax based on their eligibility, personal income tax, and value-added tax (VAT). These incentives allow entrepreneurs to take bold moves they are afraid of taking anywhere else and reach new heights in business.
They can reinvest these savings into business expansion, hiring, and development. This feature of the free zone also makes it a great spot for setting up your headquarters, research facilities, and distribution centres.
This is another incentive for setting up a business in a free zone. Free zone companies are not charged custom duties for goods imported, exported, or re-exported from the free zone. This is beneficial for every business, particularly trading, manufacturing, and logistics. This is ideal for companies aspiring to become global trading hubs with an international supply chain, as they can import raw materials, produce goods, and re-export them all the while without incurring any additional expense.
Free zones in Dubai operate under their own independent laws and regulations, separate from the UAE legal framework. These are designed to make free zones convenient for businesses. Free zones have their own customized legal framework for specific industries and sectors. These free zones have flexible labour laws, making hiring and employment contracts better than on the mainland. Free zones also do not impose any currency restrictions allowing free movement of capital. This adds to a free zone business-friendly environment.
Everyone is familiar with Dubai’s world-class infrastructure. Dubai Metro and aviation are the world’s finest, and it’s also the same story for logistics, architecture, and landmarks. Companies operating in free zones can leverage these for their benefits by choosing from a range of industrial facilities depending on their needs. Free zones are offering the best of Dubai by offering specialized infrastructure and support services to meet even the needs of niche markets.
Dubai’s free zones are designed for foreign investment, and the government is trying all they can to make it more attractive to business prospects. The above benefits allow entrepreneurs to take advantage of the city’s global importance, strategic location, and world-class infrastructure. Dubai’s free zones are what you are looking for if you are seeking to establish a business in the Middle East or expand into global markets.
Being one of the leading business setup consultants in Dubai, CDA has a team of well-versed experts who are equipped to serve the businesses with multiple business set up services inclusive of PRO services, Licensing services, HR services, Compliance framework, selection of the best location etc. Our team is always on standby to serve your needs and provide your business with a competitive edge over the others.
To know more about our services, connect with CDA team now.
