What is a freezone in UAE?
Free Trade Zones or the Freezones as they are called in UAE are special industrial areas in the country set up to attract foreign investment and thereby empowering the country’s economy. They provide tax and company setup benefits and full ownership benefits for foreign investors so that they can freely trade across the country. There is a designated authority for each freezone to operate and manage its activities and administration.
Why choose a freezone for company setup?
- 100% foreign ownership
- Exception of taxes
- Customs privilege
- No foreign exchange controls
- Low freight charges
- World-class infrastructure.
- Lowest tariffs in the region.
- Cheap energy.
- Modern business approaches.
- Excellent support services.
- Permitting directors, shareholders and employees will get residency visas in the UAE.
How to set up a business in a freezone?
Fimkin will assist you to find the right business to set up in the freezones and help you with the setup procedures. With us, your way to freezones is made much easier. The freezone business setup procedure is as follows:
- Choose your activity- Opt for a business type that is allowed in any of the freezones and is suitable for you at the same time.
- Choose your area – Find a freezone designated to the type of activities like your business and the one most favorable for business growth.
- Get a trade license – There are 3 types of entities allowed in these zones - Free Zone Establishment (FZE), Free Zone Company (FZC), and Branch Office. Choose the type best suited for your business and register for a trade name & license under the same.
- Open a bank account and find a suitable office space.
How to set up a business in a freezone?
Fimkin will assist you to find the right business to set up in the freezones and help you with the setup procedures. With us, your way to freezones is made much easier. The freezone business setup procedure is as follows:
- Dubai Airport Freezone (DAFZA)
- Jebel Ali Freezone (JAFZA)
- Internet City in Dubai (DIC)
- Media City in Dubai (DMC)
- Dubai Knowledge Village (DKV)
- Studio City in Dubai
- Dubai International Academic City
- Dubai Outsource Zone
- Intl Media Production in Dubai (IMPZ)
- Dubai Int. Financial Centre (DIFC)
- Dubai World Central (DWC)
- Dubai Silicon Oasis (DSO)
- Dubai Maritime City