Posted on 05-July-2019
A Free Zone area represents a significant opportunity for many expats that want to create a business in the UAE. There are a whopping 40 free zones across the UAE and these areas have now gained traction with overseas business owners. One such reason for this is due to each free zone being governed by its own independent authority. This allows each zone to effectively set its own regulations pertaining to business duties and procedures. Free zones provide business owners with complete repatriation of capital and profits, as well as tax exemptions for personal and corporate tax. Free zones also provide an exemption for import and export duties.
When you establish a company in a UAE free zone, one of the most lucrative drawing cards is that your business is exempt from corporate and personal taxes. This makes it easier to re-invest your company’s profits back into the business. You’re able to generate substantial profits from your business without the worry of having to pay excessive tax. This makes establishing a business far more appealing.
You can have your business registered easily in just a matter of days. It’s a simple process that doesn’t involve an endless submission of documentation. And there’s no lingering bureaucracy that will stifle your registration. When the logistics of your business have been adequately planned, you simply need to apply to the relevant body and approval can quickly be made.
Each UAE free zone has all necessary infrastructure that’s needed to run a successful business. There is a diverse choice of office space, as well as warehouses. These can cater to a variety of businesses and can house a number of products. The free zones have been customized so that there is an ease of access to other businesses and all major infrastructure – transport, amenities, etc.
With 30 free zones in Dubai and 42 across the UAE, there is a location to best suit your organization’s requirements. Each free zone has been specially developed as an ideal business environment that is best suited to a specific industry. Just as there are free zones that are catered to IT, there are also zones that are entirely designed for other industries, including healthcare and pharmaceutical.
As well as providing tax exemptions, free zones give businesses a raft of benefits including the right to either partially or fully repatriate capital to a country of origin. You also fully own the organization and there aren’t any limits on using your money for your day-to-day business activities. In addition, you’re able to easily bring employees into the UAE to assist in your operation.