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UAE boasts a multitude of free zones – designated areas within UAE where expatriates can fully own and operate their business, which provide a wide range of incentives for investors from around the world. The incentives given by Government to promote investments and business in the country make it the major trading hub of the region. Political stability, life security, law and order, tax haven status and ease to do business are the major attractions of UAE. The choice of the right free zone depends on the type of activity to be carried out and requirements in terms of facilities.
There are more than 30 free zones operating in UAE. Free zones in UAE, especially Dubai are goldmine for investors around the globe.
The types of entities that can be established are:
- A free zone company (FZC) – this entity requires a minimum of two shareholders
- A free zone establishment (FZE) – this entity requires a minimum of one shareholder
- Branch of a foreign company
- Representative office from the parent company
Benefits of setting up within a Free zone:
- 100% ownership of business
- 100% import and export tax exemptions
- 100% repatriation of capital and profits
- Fast-track document clearance
- No currency restrictions
- Simplified recruitment process
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