8 December, 2019
What makes free zones business setup beneficial for you
The main focus for you as an entrepreneur is to create the most profitable environment for your business to make sure that it keeps flourishing. Probably like the majority of your peers, entrepreneurs, owners of local or multinational businesses around the globe, you would opt for free zones to set up a company in the UAE. But what makes free zones beneficial for company formation in the country? Especially the emirate of Dubai ranked as one of the easiest places to register a company in the world? What is constantly increasing the number of foreign investors opening companies here? Before that, we need a board understanding of the free zone’s concept and objective, categories, and benefits, etc.
Free zone concept and objective
Since a major objective of creating free zones is to increase exports, most free zones around the world are either ring-fenced enclaves exempt from national import and export duties; or they formally operate outside the customs area of their host country. Governments often add other benefits to the package, such as tax, regulatory, administrative and financial incentives.
Free zones categories
1. Free trade zones are typically located near seaports or airports, mainly offering exemptions from national import and export duties on goods that are re-exported.
2. Export processing zones go a step further by focusing on exports with significant value-added, rather than only on re-exports.
3. Special economic zones apply a multispectral development approach and focus on both domestic and foreign markets. They offer an array of incentives including infrastructure, tax and customs exemptions, and simpler administrative procedures.
4. Industrial zones are targeted at specific economic activities, like media or textiles, with infrastructure, adapted accordingly.
But why the UAE? Why Dubai?
What Are The Pros?
1. Business-Friendly Legal Environment
Dubai and UAE are famous for the gentle and business-friendly approach to regulating business activities aimed to attract further businesses through:
2. Hassle-Free Registration
Easy registration with a minimum amount of documents required to submit. Focus is on quick paperwork to get your business operational.
3. Needed Infrastructure available
Free zones company formation is designed to have the required infrastructure that is essential to carrying out business activities. For instance, there is a wide choice of offices and warehouses. Besides, each free zone provides facilities that are required for a specific line of business.
Depending on your business activities, the most important choice you will make is selecting the free zone that will be the best for enhancing your enterprise. This is why we always suggest reaching out to specialists that will help you make the wisest choice. Contact us for further information on how to setup your business in the freezone