Whether you are looking for a start-up business or are looking for ways of tax concessions, Dubai Freezone Company Formation is the answer for you. Don’t be confused by this term. We are here to explain to you the details behind it. Plus, there are plenty of Dubai Freezone company formation consultants that can assist you with the queries.
However, with this blog, we will be aiming to resolve your basic questions that are associated with this term. So without further ado, let us get started.
Dubai Free zone Company Formation
Basically, a free zone area in Dubai means that trading zones where goods and services are traded at favorable tax and customs rates. Initially, they were established to power up the international business of the region.
However, today, this has proved to be super advantageous for businesses that function within them.
They have helped to grow Dubai’s economic status to a great extent. Plus, the companies that operate in these zones are essentially profited here.
Benefits of setting up in the free zone
Despite having the obvious benefit of tax concessions and preferential custom rates, the Dubai Free zone has a lot more to offer for businesses around the world.
Some of these benefits are listed below –
Simplified setup process – If you are looking for an expansion in the international market then setting up your business in Dubai Free zone area is preferable. You can set up your business here without much of a hassle.
The application procedure depends upon your activity of business and the free zone area that you chose to set up. However, for the majority of cases, you are needed to provide basic documentation only.
The entire procedure of setting up your business will take a maximum of two weeks’ time. It is that much convenient here.
Privacy – One of the highlighting benefits of these areas is that it offers businesses with privacy. Companies that are looking for more secure trading options can get just that by operating in these free zones.
Since there is no option of an open directory for company ownership your companies’ details are intact. Additionally, other company information, for instance, shareholder details never get disclosed to the general public.
Trading in UAE – Even though you won’t be able to trade directly with the market that is established locally in UAE you can overcome this by appointing a local distributor. Alternatively, you can trade in the UAE by establishing your business in the free zone and then opening up a branch office of the free zone business throughout the country in later dates. These branches will be able to help you market your offers and initiate business in the UAE mainland.
Foreign ownership – You can maintain 100% ownership to your business if you set up your company in the free zone of Dubai. This is another essential benefit that Dubai free zone provides.
No need to work with local business partners. Set up your company in Dubai free zone and retain full ownership of your company.
If you are still not considering setting up your business here then rethink your decision. You can take the help of Dubai Freezone company formation consultants to further clarify your doubts.