Free Zone Company Formation

 

Free Zone Company Formation

A Free Zone in UAE, is a specialized zone offering 100% foreign ownership, In addition to tax free and free custom duty, which makes a free zone company in Dubai and UAE ideal for international operations, And especially for import and export businesses, Therefor each free zone has its own laws and regulations and not follow the UAE commercial companies law, In fact, free zone companies don’t generally require any UAE nationals as partners or sponsors, You can usually consider them as offshore or outside the UAE.

Advantages of a free zone company Formation

  • 100% foreign ownership, Which means No UAE partner required
  • Also no restrictions on capital repatriation
  • Besides 0% corporate tax
  • And 0% personal income tax
  • Additionally, no duties required to be paid for imports and re-exports
  • As well as no restrictions on the use of currency
  • Can open a bank account in Dubai
  • Allowed to acquire UAE residency Visas too
  • And allowed to hold shares in other UAE and worldwide companies
Free Zone Company Formation

 What is The Process to setup a Free zone in UAE :

  • First, choose the type of legal entity
  • Then choose the trade name
  • Next, Apply for a business license
  • And choose an office space
  • After that get pre-approvals, And register your business
  • Finally Get your license

On January 9, 2018, The Federal Tax Authority announced 20 designated zones, which are exempted from the five percent VAT in the country, This usually means that the transfer of goods between designated zones are considered tax free.

 

 

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