How to Set up a Company in Dubai Free Trade Zone?
Experts of several renowned business consultancy firms who helping investors to set up businesses in Dubai, mention that entrepreneurs prefer setting up their offshore companies in the free trade zones in Dubai. The primary reason behind this is that companies located within free trade zones offers the benefit of 100% ownership to foreign investors, unlike a Limited Liability Company (LLC).
In LLC formation, the major shareholder should be a UAE national with 51% of shares. Company owners looking to expand their business and having a global presence choose Dubai because this city is conducive to the growth and development of business.
The industry friendly policies of United Arab Emirates (UAE) government have made this region, especially Dubai, an attractive place for foreign investors looking to open an offshore company. However, those who aren’t familiar with how things work in Dubai should take help of a reputed business management consultancy firm. This will ensure that the legalities involved in setting up an offshore company in Dubai are completed without any hitches.
Additionally, the business management consultancy firm that you hire can help you with company registration, obtaining of No Objection Certificates (NOCs), and identifying a suitable location to set up office in one of the free trade zones. In other words, if you hire a consultancy company, it will provide all the support and give answers to all your queries regarding ‘how to set up a company in Dubai’.
Hence, it is advisable that you first avail the services of a renowned business management consultancy firm, and then consider setting up an offshore company in Dubai.
Let’s take a look at the advantages of setting up an offshore company in a free trade zone in Dubai:
- Along with 100% ownership of your company, you will enjoy complete repatriation of the profits earned. You will not be required to share the profits with a local business organization. However, this is applicable only if you set up an offshore company in a free trade zone in Dubai.
- You can set up specific companies offering specialized services in free zones like Dubai Healthcare City or Dubai Media City. Herein, the infrastructural facilities and industry policies are designed to help companies which offer services in particular industrial sectors such as healthcare, media, and others.
- Investors who open an offshore company in Dubai free zone get a UAE residence visa and can access multi currency bank accounts.
- The free zone administrative authorities will provide you with complete support with regard to setting up of an offshore company, hiring local workers, and using the offshore company as a base to trade internationally.
Since Dubai free trade zones offer a number of advantages to both investors and companies, it has become a highly preferred region when it comes to setting up an offshore company. Considered as one of the best economic zones around the world, Dubai free zones offer seamless infrastructure, personalized attention, and quality services to foreign investors and entrepreneurs. With all the benefits and support offered, it is a place where a business can grow and perform at its best.