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free zone company setup

Dubai free zones, free zone business set up, Free zone company setup
Business Setup

Dubai Free Zones in 2023: Choosing The Right Zone For Your Business!

Dubai Free Zones have long been attracting entrepreneurs and investors from all over the world. These specialized zones offer intriguing incentives and benefits for businesses, which all make them appealing destinations for expat businessmen, start-ups as well as established businesses looking to set up or expand their operations in this region. Moreover, these free zones play a crucial role in the economic growth of the city. They attract substantial foreign investment, offer employment opportunities, encourage collaboration and knowledge exchange, boost trade and export, drive infrastructure development, promote business growth, and enhance competitiveness.  If you are looking for the right zone for your company formation, this article is for you. However, before understanding how to choose the right free zone for company formation in Dubai, let us explore in detail these zones and the advantages they offer. What exactly are Dubai Free Zones? A free zone in Dubai, also known as a free trade zone or free economic zone, is a designated geographic area within a country where businesses enjoy distinct regulatory and tax advantages. Dubai’s free zones were established to promote economic diversification and attract foreign investment by creating environments that foster innovation, trade, and growth. As of 2023, there are over 30 free zones in Dubai, each of which caters to specific industries and sectors. What are the Major Advantages of Dubai Free Zones? 100% Foreign Ownership: One of the most significant advantages of Dubai’s free zones is that they allow foreign investors to hold 100% ownership of their businesses. In many other parts of the UAE and the world, foreign ownership restrictions can hinder investment opportunities. Tax Incentives: Businesses operating within Dubai’s free zones benefit from various tax incentives, including zero corporate and personal income taxes for a specified period (usually 15-50 years). This attractive tax regime provides significant cost savings for companies. Customs Benefits: Free zones offer businesses exemption from import and export duties. This allows for smooth and cost-effective international trade. Simplified Regulations: Dubai’s free zones provide a streamlined process for business setup and licensing. The hassle of dealing with multiple government agencies is reduced, which enables faster company formation. Great Infrastructure and Facilities: Free zones are designed with state-of-the-art infrastructure, advanced technology, and excellent facilities to support various industries. This is conducive for businesses to thrive. Access to Skilled Workforce: Many free zones are located near educational institutions and residential areas, which ensures seamless access to a skilled and diverse workforce. How to Choose the Right Dubai Free Zone? When selecting the ideal free zone for your business setup in Dubai, you will need to consider several factors as below: 1. Industry and Business Type Most entrepreneurs aren’t aware that different free zones cater to specific industries and sectors. Hence, it is necessary that you research the free zones that align with your business activities. For instance, if you’re in the technology sector, Dubai Internet City and Dubai Silicon Oasis are suitable options, while Dubai Multi Commodities Centre (DMCC) is a hub for commodities and trading businesses. 2. Business Activities Make sure to define your business activities and ensure they are permitted within the chosen free zone. That is because some zones have restrictions on certain activities, and it’s essential to align your offerings with the zone’s regulations. 3. Location Also, consider the free zone’s location with respect to your target market, suppliers, and transport hubs. Proximity to major highways, ports, and airports offers significant advantages for businesses dependent on logistics. 4. Infrastructure and Facilities Evaluate the infrastructure and facilities provided by the free zone. This includes office spaces, warehouses, manufacturing facilities, and technology infrastructure. A well-equipped free zone can positively impact your operational efficiency. 5. Licensing Options Dubai’s free zones offer various types of licenses, such as trading, service, industrial, and professional licenses. You need to go for the one that best suits your business model. 6. Company Setup Costs Different free zones have varying setup costs, including license fees, visa costs, and office rental prices. Consider your budget and weigh it against the benefits and services offered by the chosen zone. 7. Flexibility and Expansion Opportunities Check the free zone’s policies regarding company expansion, subleasing, and adding additional business activities. A flexible zone can accommodate your future growth and diversification plans. 8. Networking and Collaboration Some free zones host events, workshops, and networking opportunities that foster collaboration among businesses. If networking is important to your business strategy, choose a free zone that offers such activities. 9. Legal and Regulatory Framework Study the legal and regulatory framework of the chosen free zone. This includes the ease of obtaining visas, opening bank accounts, and navigating labour regulations. 10. Track Record Established free zones with a proven track record of supporting businesses can provide a sense of security and reliability. Top Dubai Free Zones in 2023 As of 2023, some of the prominent free zones in Dubai include: · Dubai Internet City: This free zone is ideal for tech and media companies. It offers a thriving ecosystem for IT innovation and digital media. · Dubai Silicon Oasis: Focused on technology and electronics manufacturing, this zone provides facilities for research and development, light industrial activities, and tech start-ups. · Jebel Ali Free Zone (JAFZA): JAFZA is one of the oldest and largest free zones, which is well-known for trading and manufacturing businesses, offering a comprehensive range of services. · Dubai Multi Commodities Centre (DMCC): Known for its commodities and trading focus, DMCC is home to a wide range of businesses, from diamond traders to financial services. · Dubai Healthcare City: Catering to the healthcare and wellness sectors, this free zone offers specialized facilities and a collaborative environment for medical professionals. So if you are out and about for a free zone company formation in Dubai, then use the above tips, make an informed decision, and position your business for success. Need support with company formation services in Dubai? Get in touch with us at Corpin Consultants. Our seasoned experts will help you form a company from inception to

Jebel Ali Free Zone setup guide
Free zone company setup

Your Ultimate Free Zone Setup Guide: Jebel Ali Free Zone(JAFZA)

Your Ultimate Free Zone Setup Guide: Jebel Ali Free Zone(JAFZA) Housing over 8,700 businesses, consisting of 100+ Fortune Global 500 companies, Jebel Ali Free Zone accounts for more than 20% of the UAE’s foreign direct investment and 50% of Dubai’s total exports. Ever since its inception in 1985, this freezone is one of the largest and most modern free zones in the UAE. Jebel Ali Free Zone is located in the Jebel Ali area at the far western part of Dubai, close to the borders of Abu Dhabi. It is connected to the Port of Jebel Ali, the world’s largest manufactured port that handles over 19 million TEUs (twenty-foot equivalent units) of container traffic per year. The Dubai International Airport, the world’s busiest airport in terms of international passenger traffic is also closer to this free zone. JAFZA is one of the most sough-after freezones in UAE for entrepreneurs who are planning to expand into the Middle East region due to its strategic location, world-class infrastructure, and investor-friendly environment. Benefits of setting up your company in Jebel Ali Free Zone Vicinity to Major Markets: Jebel Ali Free Zone is strategically located with easy access to major markets in the MENA region, Europe, Asia, and Africa. Air, Land, and Sea-port Connectivity: JAFZA has easy connectivity to a sea-port, an airport, and a road network. Multiple-Entry Access: JAFZA has multiple-entry access, which permits business owners and employees to enter and exit the UAE multiple times. Presence of Fortune 500 Companies: JAFZA has warehouses and offices of over 100 Fortune 500 companies that consists of Nestle, PepsiCo. Mitsubishi Motors Middle East and Africa, Mercedes Benz Cars Middle East and Tetra Pak. Supportive Government Policies: Companies set up in JAFZA can avail many benefits including tax exemptions such as zero percent import or export duties and free trade agreements. There are no restrictions on capital repatriation and profits. Skilled Manpower: Jebel Ali Free Zone has a vibrant, experienced, and English-speaking workforce. World-Class Infrastructure: JAFZA’s infrastructure meets international standards, focusing on safety, security, and efficiency. Multiple Office-Facility Options: JAFZA offers numerous office space options like ready-to-use office suites to custom-built office space. This free zone also provides options such as warehouses, storage facilities, and retail space. These office spaces are equipped with the most advanced technology offering amenities such as high-speed lifts and comes with ample parking space. Value-Added Services: The zone also provides value-added services to support your business, including customs clearance, storage and warehousing, transportation, business counseling, legal and financial advice etc. 24×7 Assistance: JAFZA’s customer service team offers 24×7 assistance. They can be contacted by phone, email, or the live chat function on the JAFZA website. Jebel Ali Free Zone Business Setup Process For setting up a business in JAFZA, first you need to obtain a trade license from JAFZA depending on the nature of the business. There are three trade license options in JAFZA: Commercial Trade License Industrial Trade License Service Trade License After obtaining the trade license, you can apply for visas for owners and employees. After obtaining the trade license, the next step is to get a visa for the business owner and employees. The third step is to open a company bank account. The next step is to find an appropriate office space or industrial land within the free zone. Once the office space is finalized, you can obtain the necessary approvals and licenses from the relevant authorities. The final step is to register the company with the Dubai Chamber of Commerce and Industry. After the company registration process is completed, you can start operating the business from the office or industrial facility in JAFZA. If you require any assistance regarding company incorporation in JAFZA or expanding your operations, we at CORPIN can guide you. With our years of experience in business setup, we can ensure you a smooth journey in obtaining the necessary licenses, permits and set up your company in JAFZA as soon as possible. Contact us today to get more details.

Blogs, Business Consultancy

Setting Up a Company in Sharjah Airport International Free (SAIF) Zone

Setting Up a Company in Sharjah Airport International Free Zone Established in 1996, Sharjah Airport International Free (SAIF) Zone is one of the oldest UAE zones located next to Sharjah International Airport. With a well-developed infrastructure and strategic location makes company setup in SAIF Zone ideal for setting up trading, manufacturing and logistics businesses. It offers ready-to-move facilities such as fully air-conditioned and furnished executive suites with reception, pre-built warehouses in four sizes with adjacent office space and lease land for unrestricted private development, bunkers, container parking area and temporary storage space. Categories of Licenses Available in SAIF ZONE Trading License – This license is issued to businesses concerned with industrial and manufacturing activities. Commercial License – Import, export, distribution, consolidation, storage, or warehousing of goods are specified in the license. Also, the maximum permitted limit is three similar product lines or company activities. Service License – Allows the holder to carry out activities specified in the license only within the SAIF zone. Industrial License – This license permits the import of raw materials, fabrication, processing, assembling, packaging, and export of finished goods. Benefits of Setting up a Business in SAIF Zone No corporate or personal income tax Fast and affordable licensing including 4-hour licensing service option. No need for share capital Easy access to seaports and airports 100% repatriation of capital and profits 100% foreign ownership permitted without any requirement for partners A wide range of options available for all types of businesses: warehouses, single offices, manufacturing units, and industrial plots. Company Setup in SAIF Zone Company formation in SAIF Zone can be done by owners or by Power of Attorney holders. License will be issued quickly on the day of application. Documents Required for Company Incorporation Passport Passport size photo Residential address, contact number and email ID of the owner Documents Issued by SAIF after Company Registration include: Certificate of Incorporation License Memorandum and Articles of Association Investment Service Agreement Share Certificate Lease agreement Corpin Consultants can assist you in the entire process of company incorporation in SAIF zone. Our experts handle the entire Banking, Visa, Legal, and Licensing formalities, so you can focus on the other aspects of your business.[/vc_column_text][/vc_column][/vc_row]

company setup in UAE, corpin business setup consultants
Business Consultancy

How To Find The Ideal Free Zone For Your Company Setup In UAE?

How to Find the Ideal Free Zone for Your Company Setup in UAE?  Establishing a business in a free zone is an ideal option for foreign investors to have full control over their business and receive considerable tax exemptions. However, there are around 50 free zones in UAE and selecting one is a cumbersome task. Through this article, we would like to clear things for you so you can choose the best one for your business. Determine the type of business activity for your business Every free zone has its own set of specific activities that are allowed to be performed within the jurisdiction. The more activities you choose, the more your license will cost. One way to avoid this is by choosing several activities within one activity group and from the same license type, so you don’t have to pay any additional fees. Select the facility type your business may require A business will have many facility requirements depending upon its business activities. If your business requires meeting with clients regularly or you are planning to hire employees, it is better to opt for an office. Take into consideration the availability of these facilities as some free zones don’t offer them. Also, make note that a company registered within the free zone is only allowed to have a facility within the UAE Free Zone where it is registered. Select a free zone depending on the amount of capital you wish to invest For registering a company in the UAE, you are supposed to deposit a share capital amount which varies in each free zone. Free zone Company registration cost is another key aspect to consider. Check the licensing requirements Every free zone in the UAE has its own type of business licenses. There are three license types available in free zones such as trading license, professional license and service license. Some free zones also offer additional licenses based on the activities of the company. Check the exact requirements before selecting a free zone. Check the reputation of free zones with local banks It is better to seek the guidance of a business setup expert who can assist you in opening a corporate account in an established bank in the UAE. Every free zone has different procedures, requirements and licensing costs. Considering the complexities involved, it would be wise to seek the advice of company formation experts for a smooth process. We at Corpin Consultants have a successful track record of handling the company formation process in free zones. Contact us today to know more.[/vc_column_text][/vc_column][/vc_row]

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