How to choose a suitable free zone for business in the UAE
In 1985, a law that allowed the opening of the first free zone in Dubai called Jebel Ali was passed in the UAE. It breathed new life into the economy of the emirate but also attracted international investors. The idea turned out to be so successful that other emirates began to adopt the experience of Dubai, new free zones appeared rapidly and in large numbers.
Today in the UAE dozens of free zones successfully work and we will tell about the best free zones for your business.
Dubai International Financial Centre is considered one of the most prestigious UAE free zones. Usually it is chosen by companies associated with the financial markets.
The founders of regulated companies must first submit a letter of intent to the DIFC and be present at the meeting with representatives of the zone. As soon as the appeal will be considered informally, the entrepreneur will be able to submit his full application. For unregulated companies, the process is less stringent, although specific requirements depend on the nature of the proposed business.
With this, DIFC provides very attractive tax conditions. The free zone company formation will ensure that the tax rate will be zero for 40 years, and this applies to both personal income tax and corporate income tax. Note that DIFC has a wide network of double taxation avoidance agreements with global regulators and central banks.
Sharjah – another perfect option for company registration in the UAE
The SAIF free zone in Sharjah provides an attractive business environment, especially the high speed of service and convenience of work is worth noting. SAIF ZONE offers a 24-hour licensing service that allows you to register and launch companies faster than in many other places.
Business setup in Sharjah will provide you with such benefits:
- A foreign investor may own 100% of the company;
- No restrictions on the withdrawal of capital and profits;
- No taxes on personal and corporate income;
- The absence of duties on all imports and exports in the free zone;
- Strategic location;
- Global and regional communications with excellent sea, land and air transport links;
- Global air lines through Sharjah International Airport;
- Rent for 25 years, with the possibility of renewal for the same period;
- A selection of ready-made warehouses and office space of various sizes;
- The license is issued in 24 hours;
- Equipment and workers for cargo operations are provided for 24 hours;
- The possibility of obtaining UAE resident visas for all company employees;
- Low prices for the registration of companies, which makes the zone very competitive today;
- No restrictions on hiring foreign workers (the number of visas depends on the size of the business);
Ideal place for IT companies in the UAE
Dubai Internet Free Zone was created in 1999. It was made as part of an information technology development project in Dubai and the Middle East. The Dubai Internet City Free Economic Zone is located 25 kilometers south of downtown Dubai.
Dubai Internet City is managed by TECOM Investments, and more than 1,100 IT companies have already been registered on its territory. This company represents such areas of the IT industry as software production, Internet and multimedia companies, telecommunications, network companies and companies that provide other IT services.
When registering a company in the Dubai Internet City free zone, all procedures are simplified as much as possible. The legal framework can be called transparent simple and even friendly to entrepreneurs. Bureaucratic procedures are reduced to the principle of one window and significantly saves time of registration and obtaining licenses.