Located at a pivotal point in the map of the world with a luxurious way of life and an ever booming economy, Dubai has become one of the most visited countries by entrepreneurs and investors. One of the most lucrative and most common options to start a business in Dubai is by establishing a free zone company. This article will discuss the main advantages of Dubai Free Zone Company setup and its importance in your business.
What is a Dubai Free Zone?
A free zone in Dubai is an economic zone that allows global players to set up and run businesses with full ownership, without being subject to taxes, and other incentives! These zones are set up in order to encourage international trade, investment, and economic activity.
Top Reasons to Choose Dubai Free Zone Company Setup
- Complete Foreign Ownership
In contrast to businesses established on the mainland, companies functioning within a business zone allow 100% foreign equity hence enabling you to run the business without any limitations.
- Fiscal Incentives
Businesses incorporated in free zones usually have several tax incentives which include immunity from both corporate and individual income taxes. This will help in cost reduction of operations hence increasing the profitability of the business.
- Absence of Tariffs
There are usually no tariffs applicable to products brought in or sent out of free zones facilitating and making international trade more convenient and cheaper.
- Ability to Bring Back Profits and Capital
The companies established in free zone areas are able to effortlessly return their capital and profits without limitations, thus offering them protection and encouraging investments.
- Favorable Geographical Position
The United Arab Emirates, in particular Dubai, is located at the meeting point of most of Europe, Asia and Africa, therefore facilitating easy access to trade markets as well as trade routes.
- World-Class Infrastructure
Dubai has shore facilities, airports, and logistics that are as modern as any in the world, enhancing the efficiency of doing business in the region.
- Business-Friendly Environment
One of the most attractive policing structures is the Organization of Economic and Commercial Development of Dubai, which proposes easy company turn up processes and a healthy enforcement policy.
- Access to Skilled Workforce
The emirate of Dubai is well developed and has a vast availability of professional people who are well educated and speak more than two languages hence getting a workforce to facilitate the expansion of one’s business is not a big deal.
- Networking Opportunities
Business setup in Dubai is interesting since there are several people to talk to and businesses to seek to make them potential clients and partners for one’s business and even investment opportunities.
- Lifestyle and Amenities
Dubai has a very comfortable standard of living as it has all and many more, luxury hotels, shopping centers, restaurants, and recreational facilities all available.
Benefits for Specific Industries
Dubai has established free zones with a specific intent that aligns with the trending activities of the times, and protects the benefits of the respective zones:
- Trading: For import and export businesses, free zones are the most convenient and cost effective, providing the most hassle free logistics and low operational costs management platform.
- E-commerce: The advanced online infrastructure and revenue generation prospects make Dubai increasingly favorable for e-commerce businesses which have an enormous technologically aware audience.
- Technology: The dynamic innovation traits and hunger for development clothe technoparks’ Dubai’s free zones promoting technologies and developers both emerging and established fostering the growth and development of the ecosystem.
- Professional Services: The same applies to consulting, legal and finance service companies within offshore zones enabling them to be more efficient as well as dynamic in their operations.
- Media and Creative Industries: World class infrastructure and an energetic creative and media scene in Dubai attracts people and companies from all over the world making it a conducive place for content development.
Key Considerations for Dubai Free Zone Company Setup
Free zones in Dubai have a number of benefits, however there are still additional features to consider below before settling on any of them:
- Type of Business Activity: Free zones are set up for different business activities. Select a free zone that integrates with your business activities.
- Cost: The price of establishing a free zone company differs with the zone as well as the kind of license you apply for.
- Regulations: Every free zone has got its own rules and policies. Take some time to understand these before you continue with your plans.
- Office Space: You may also need to rent an office space in the free zone depending on how your business operates.
Conclusion
The setup of a free zone company in Dubai is really attractive for all those who want to establish their business in a place with good strategic location, attractive tax policies and business conducive environment. The advantages of a free zone along with social media and influencer marketing strategies can successfully enable you to grow your business in the vibrant city of Dubai.
