The Free Trade Zones in UAE have been set up with the specific purpose of facilitating and enhancing foreign investment. The procedures and process of setting up of free zone companies in UAE depends on the activity, entity and the free zone which you choose for company formation. The companies operating in the Free Zones are treated as being offshore, or outside the UAE for legal purposes. The free zones are suitable for companies intending to use UAE as a regional manufacturing or distribution base, with the bulk of their business outside the UAE.
Features of Company Formation in UAE Freezone
- UAE Freezone allows 100% foreign ownership to the expatriate
- UAE national or 100% UAE national owned companies participation not needed in freezone
- 100% import-export duty exemption for freezone companies in UAE
- Setting up a freezone companies are eligible to open multicurrency bank account in Dubai/UAE
- Business setup in UAE freezone allows to get resident visas in UAE
- UAE freezone company allows local trading by paying 5% duty (through a distributor)
- Tax residency certificate can be issued under UAE freezone company
- Freezone companies in UAE are eligible for100% repatriation of capital and profits
- Freedom from corporate taxation for 50 year;
- Efficient recruitment procedures ensuring the availability of a skilled and experienced workforce;
- A high level of administrative support.
Companies approved for operation in Free Trade Zones, can apply for one of the following types of licenses: Trading; Industrial; Service; or Industrial. These licenses are renewable annually. Trading licenses are granted to locally incorporated companies, and to companies incorporated outside the UAE. Trading licenses are also issued to Free Zone Establishments (FZE) and Free Zone Companies (FZCo’s).Industrial licenses are issued to companies incorporated outside the UAE, FZE’s and FZCO’s. Service licenses are only granted to companies holding a UAE license
NEX Consultants provide Free Zone company formation services in UAE to companies and investors in a wide range of industries. We have worked with different Free Zone authorities, government departments and their respective document processing requirements. We recognize all the formalities and requirements of all the Free Zone authorities and government departments in UAE. We are always set to go the extra mile to have all the needs of yours. Our know-how, competitive rate and trusted and quality service have made us one of the most preferred company formation consultants and corporate service providers in the UAE. Kindly contact us for free zone business setup consultation in UAE.