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In the United Arab Emirates, there are around 40 Free Zones now in operation, with more in the planning stages. In each Free Zone, a certain set of business sectors are the focus, and only firms that fall within those categories are eligible for a licence.
In the UAE’s Free Zones, foreign ownership is not restricted. Firms are governed by an independent Free Zone Authority (FZA), which issues operating licences and regulates companies’ operations within the Free Zone.
A further advantage of a Free Zone is that it allows owners, directors and workers to get UAE resident permits.
- 100% capital and profit return
- Exemption from all federal and state income taxes for businesses and individuals
- Monetary limitations are not in place.
- A wide range of activities are licensable;
- Ample and reasonably priced energy;
- communications with modern efficiency
- Efficiencies in logistics as a result of the business cluster effect
- SMEs and start-ups can use serviced desks and offices.
- Outstanding support services.
The following documents and due diligence from all shareholders/directors of the proposed new business will be required before we can begin the process of establishing up a Free Zone Company:
- Copies duly certified of identification documents, as well as UAE visas and entrance stamps (if non-resident)
- 2 Address Verification Documents (dated within 3 months)
- Letter of Recommendation from a Bank or Company
- Biographical Information on the Candidate
- Form for Starting a Business (which we will provide)
- Please be aware that certain Free Zones may need a thorough business plan depending on the proposed new company’s business activity. To help you, Creative Zone provides a wide range of templates.
Once a Free Zone’s legal presence is established, a company must lease space or land and get an FZA operating permit. Different licences are required for various free zones. Businesses having trade and industrial licences can only work in the Free Zone or other countries. A UAE authorised agent and a joint venture is necessary for goods sales in the UAE. Requirements differ from one Free Zone to the next because each has its regulating authority. The majority, on the other hand, adhere to a standard set of guidelines. A Sole Establishment (FZE) in the Free Zone has one shareholder, whereas a Free Zone Company (FZC) has two or more shareholders. Shareholders may be either an individual or a corporation.
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