Free Zone Company Setup in Dubai
Setting up a company in Dubai in the free zone allows a foreign national to have a hundred percent ownership of the company opposed to setting up Limited Liability Company, which is set up in partnership with a local partner who owns fifty-one percent of the company. The costs of setting up either of the two can vary. Today one can hire professional companies to do all the paperwork and to get all the licenses and permits that are required for setting up a business in Dubai. Though these companies charge a fee for their services, they save you a lot of time and hassles. These companies guide you through the complete process of free zone company setup in Dubai, from company formation to the registration complexities.
Free trade zones in Dubai have been set up by the government for foreign business owners to benefit various business opportunities in Dubai. There are a few restrictions on Dubai free zone business setups to protect local interests. For example, a free trade zone company cannot rent an office outside the free zone, and the company cannot directly supply to the local market. Otherwise, free zone company setup in Dubai also provides various benefits. There are exemptions from commercial taxes, import and export duties, land tax, property and building license fees. There are exemptions on restrictions on the transfer of capital invested in free trade zone.
These free trade zones allow full ownership of the company to a foreign national without the need for a local partner. There is also a hundred percent repatriation of capital and profits. These trade zones offer a dynamic and thriving community of various types of businesses. These free trade zones offer a regulated and secure business environment licensing a whole range of business activities, so you can trade with confidence. Dubai free zone company setups can do business only from the free trade zone. There are various kinds of free trade zones such as the Dubai Healthcare city which focuses on healthcare companies and the Dubai Media City which focuses on technology and media companies. Free trade zones offer a liberal and attractive business environment to the companies. Free zone administrative authorities usually provide full support to companies setting up shop there.
Offshore companies are incorporated and used for a variety of purposes such as for setting up holding companies, inheritance planning, holding overseas real estate assets as well as owning overseas financial assets and for tax optimization purposes. An offshore company in UAE is not allowed to do business within UAE. Rather, it uses the UAE as a base to do business with the rest of the world. Both free trade zone companies and offshore companies require a trade license. These trade licenses are usually issued by the Dubai Economic Development Department.
The best part about a free zone business setup in Dubai is that there are no taxes such as the value added tax, income tax and so there is no need to worry about filing tax returns. In some free trade zones, companies are not even required to have an audit.
However, it is important to get a few things in place before you start to setup a company in Dubai free zone. Defining your business activity correctly and then defining the right type of the company for you is the first step in the process. Setting up a business in Dubai can be a complex process and it is advisable to get local guidance and legal advice about the various incorporation and registration formalities. The professional companies providing consultancy and advice in setting up a business in Dubai helps you to streamline the entire documentation and paperwork in a hassle free and smooth manner, so you can focus on developing your business in Dubai.