From the last few decades, the economy of the UAE is continuously shining in the Middle East. More and more investors are coming to this country because here their business can get financial stability. Apart from economic stability, investors and businessmen are also attracted by other factors such as superior infrastructure, investment support, manpower availability and free zones. In the region of the free zone, your business can operate with much flexibility. In the free zone the businessmen and investors receive a lot of benefits. While establishing a company, the businessmen must learn about the jurisdictions. Important factors must be considered such as goals, customers and the business activity,
The special economic zones or jurisdictions known as free zones issue operating licenses for commercial establishment and grant financial exclusions. In the seven Emirates, there are more than forty free zones. Before taking the final decision, the investors must consider other benefits of establishing a company in the free zone.
- Full foreign ownership – Complete foreign ownership is possible if you have opted for forming a free zone company in the UAE, and there is no need to look for a UAE national sponsor.
- Easier financial transactions – In the free zones, there are no currency regulations. As a result, the financial transactions become easier. This factor also encourages foreign investors to opt for free zones.
- Exemption of import and export duty – In the free zone jurisdictions, the export and import duties are not applicable. Hence, it automatically promotes international trade.
- Repatriation benefits – The companies formed in the free zone receive the full-repatriation benefits that include financial assets as well as profits.
- Tax exclusion – For the free zone companies, tax exclusion is applicable. This includes corporate as well as income tax.
- Easy labor recruitment- In the free zone, the formalities of conducting labor recruitment are easy. At the same time, labor recruitment can be carried out in a cost-effective manner. The companies can easily recruit foreign citizens.
- World-class infrastructure – You will find that in the free zone, there is a presence of world class infrastructure. This encourages the investors to set up in a free zone.
- Easily available workspace – In the free zone jurisdiction, office space and warehouses are easily available. Hence, many SMEs and start-ups are heading to the free zone.
- Easy incorporate procedures – In comparison to other jurisdictions, in the free zone, the company procedures are straightforward and very simple. The licensing procedures can be quickly accomplished, and this saves time.
There are business set up and support services who give the best guidance to the investors and also help them to learn about benefits of jurisdictions. You must look for the cheapest freezone in Dubai and consult with the experts while setting up your business.