Doing Business in Free Zones, Dubai
Looking forward to establish business in Dubai? Then Yes, Dubai is one of the easiest places to do business on earth. A Free Zone Authority offers business licenses to foreign-owned businesses. There are more than 20 Free Zones in Dubai including Dubai Airport Free Zone, Dubai Healthcare City, Dubai Media City and so on. Around 9 free zones in Dubai are under establishment. Before getting started there are certain legal terms and conditions that you need to know. may sound very hard, especially if it’s first time. Following the rules and regualtions will make your path clear and make it easy to establish a business in Dubai. Free Zone Company and Offshore Company are the two types of business that you can set up in Dubai Free Zones.
Person who sets up Free Zone Company can own it 100%. There is no need of a sponsor or an agent. Business set up in a Free Zone offers 100% ownership, Tax exemption, Less renewal charges, Opening account in Dubai and more for the owners. Other benefits include 100% Secrecy maintainance, Less renewal charges, Can be liquidated anytime, Doing international business, Holding properties etc.
On the other side Offshore Company registration refers to a business operating outside its boundaries to cater for companies who need to have a regional "tax relief-invoicingfacility". There is actually no need for a minimum capital or office facility. The off-shore companies will have to register minimum one director per company, keep financial records and issue an annual financial report audited by a professional auditing company approved by the free zone. Each company must hold annual general meetings, perform and act as a normal company. Local companies allowed to deal with Offshore Company includes Legal consultants, accountants, management companies etc carrying on business within the UAE. Offshore company wishing to conduct trade or business in the free zone or elsewhere in the UAE must obtain the licence to conduct the business activity from the concerned authorities.
You will definitly need advice from business advisors for Dubai company formation. They give you proper advice that you can rely upon. Companies legal framework is something that is
important to get right. UAE Free Zones can help you out in many ways. UAE free zones offers advice regarding structure that best suits your current and future plans, Visa and work permit processing with Emirates ID, Partnership options and Approvals from concerned departments.
Doing business in Dubai is a dream for many ambitious entrepreneurs worldwide as Dubai has been involved in trading for over six centuries. Dubai continues to have a thriving economy and is the second largest of the seven Emirates. Doing business in Dubai is subject to several rules and regulations. There are many professional advisory companies in UAE that assists clients to comply with such laws. Company Formation in Dubai involves many procedures. Dubai Chamber of Commerce & Industry, is the statutory body that regulates the licensing procedures for company formation in Dubai. There are various kind of Licenses issued in Dubai. Trade License, Industrial License and Professional License are the major kind of licenses issued for firms doing business in Dubai based upon the nature of bussiness. UAE Free Zones has always been eager to assist investors and businessmen to make Dubai company formation a reality.