The Flourishing Economy of UAE
UAE is one of the fastest growing economies in the world and the second largest in the Arab world. GDP of UAE economy which stood at $382.58 Billion in 2017 is projected to trend around $425.00 Billion by the year 2020. The economy of UAE has grown by nearly 231 times, since its independence in 1971.
Free zones in UAE
The UAE has been excelling economically over the last few decades and the lion’s share of the credit goes to free zones! Free zones are the strongest pillars of UAE’s economy, that generate billions of jobs and helps in boosting foreign investment. They help spur economic diversification and contribute significantly to the non-oil sector.
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.