Posted on 03-December-2019
It is essential to identify the free zones of the country. This is specifically for those who have decided to start up a company in the UAE.
Spread across the UAE, free zones provide a range of opportunities to entrepreneurs that can't be found anywhere else. Delve the specifics of each free zone a tad bit lower, and you'll see that each one offers a unique range of advantages.
Dubai Silicon Oasis is a free zone that offers an extensive range of business set up services, startups, as well as private equity investment vehicles. It was introduced in 2004, providing businesses with the best possible environment to develop in the fast-growing high technology region of the emirate. DSO is a free zone made specifically to encourage both emerging and experienced tech entrepreneurs. It also allows investors to realize their vision of transformation and innovation, now making it much easier for people from the technology sector to start a business.
DSO provides the same set of corporate structures as any other free zone. There are three types of business set ups.
FZE – Those who wish to start a company individually, without any partners, may opt for the Free Zone Establishment. This business entity doesn’t require any additional shareholder and can be owned by a single shareholder.
FZCo – The Free Zone Company is one of the most preferred setups in Dubai. It typically requires a minimum of two shareholders and can be owned individually or as a company.
Branch Company – The branch company is suitable for any entrepreneur who already owns and runs a business outside UAE. It does not require share capital when starting the business.
It is essential to choose a license that covers every business activity. Entrepreneurs who are looking at starting a business in DSO, have three types of business licenses to choose from. The detail of each are given below.
TL – Trade License is ideal for those who want to import, export and distribute goods, as stated in their license.
IL – Industrial License is mandatory for those who want to carry out industrial activities. This includes importing materials, assembling, packing and exporting the finished goods.
SL – Service License is ideal for investors who want to carry out a specific service business.
Those who want to setup a business in Dubai, should know the benefits associated with it. Some of these benefits include complete ownership, full repatriation on profits, world class infrastructure and a range of shopping and entertainment options. Additionally, investors also benefit from fast-track business setup and license in DSO as well as innovative facilities.