Once a town surrounded by swathes of desert, Dubai is now arguably the world’s greatest business destination for start-ups, investors, entrepreneurs and corporations. Key to this transformation is the Emirati government’s commitment to introducing a solid and comprehensive set of business structures and jurisdictions, including UAE free zones, for entrepreneurs looking to set up their business in the UAE and Dubai.
From mainland to offshore and free zone, there are countless options available, guaranteeing a structure and jurisdiction that will perfectly suit your company requirements and personal circumstances. In this post, we’re going to delve a little deeper into UAE free zones, starting with what they are, the best free zone in UAE and the benefits of free zones. Keep reading to discover more.
What is a free zone in the UAE?
UAE free zones are independent business areas that are often located near a port or business hub. Each free zone has separate legislation from the government rules and regulations that govern onshore or mainland companies in the UAE. Consequently, each UAE free zone has a separate free zone authority.
There are currently 45 UAE free zones, which focus on a particular sector. Dubai Healthcare City, for instance, caters to healthcare companies while DMCC is home to commodities trading and tech. Dubai has the highest number of free zones in the UAE, offering investors a whole host of benefits, including incentives regarding company costs and infrastructure.
The economic importance of UAE free zones
The authorities decided to create free zones in the UAE to promote the UAE’s economic growth. Free zones offer countless incentives for business set-up in each of their respective sectors, attracting foreign companies to come and operate in the UAE.
The Emirati economy has witnessed remarkable growth and the introduction of free zones has played an important role in elevating the nation’s status as an exceptional place to do business. As Dubai and the other Emirates have looked to diversify beyond the traditional oil and hydrocarbon sector, free zones have helped non-oil external trade growth.
The benefits of free zones
While each specific free zone has its own specific set of advantages, all UAE free zones have the following in common: they enable companies to do business seamlessly across borders. But beyond this undeniable plus, investors and entrepreneurs benefit from the following four benefits:
- 100% foreign ownership.
- 100% repatriation of capital and profits.
- 100% import and export tax exemption.
- 100% exemption from income and corporate taxes.
UAE free zones additionally provide registered companies with everything they need to make their business an international success, namely world-class infrastructure tailored to the sector in question, incredible office spaces, storage and warehousing, and premium connections.
The best free zone in UAE
What is considered the best free zone in the UAE will depend on your particular set of circumstances. To guarantee you register your company in the most beneficial free zone, it is recommended you entrust an experienced business solutions provider, like Europe Emirates Group, to guide you through every step of the process.
To give you an idea of some of the UAE free zones and Dubai free economic zones available, please see this non-exhaustive list:
UAE free zones
- Sharjah Publishing City.
- Hamriyah Free Zone.
- Sharjah Airport International Free Zone.
- Masdar City Free Zone.
- Khalifa Port Free Trade Zone.
- twofour54.
- Ajman Free Zone.
- Ras Al Khaimah Economic Zones.
Dubai free zones
- IFZA
- Dubai Commercity.
- Dubai South.
- Dubai Airport free zone.
- Dubai Healthcare City.
- Dubai Maritime City.
- Dubai Media Free Zone.
- Dubai Design District.
For a full list of UAE free zones and Dubai free zones, please click here to see the United Arab Emirates Ministry of Economy webpage.
Are you interested in UAE Free Zones company registration?
Turn to Europe Emirates Group for your company registration and benefit from our expertise in the minutiae of each and every UAE free zone. We will take a comprehensive look at your business requirements and find the best free zone in the UAE for your company, striking the balance between access to local markets and tax efficiency. Get in touch with us today and start your journey to business success.
