Free Zone Company
Formation in UAE
UAE is one of the best places in the world for business growth. It provides an environment that flourishes new businesses and allows more established companies to expand with minimal risks. A free trade zone is a geographical area characterized by free trade policies, tax-free status, and low trade barriers. Free Zone Company Formation in UAE will provide 100% foreign ownership and is cost-effective. There are more than 40 free zones in the UAE striving to provide a safe and secure company formation without hassle.
Business owners can manufacture, alter, export, or import goods in the UAE free zones without custom duty fees. So, free zones are a beacon for aspiring business owners, investors, and owners of multinational companies as they are attracted to the incentives provided in these free zones. Each free zone is sector-specific and is a hub for businesses related to that sector. In UAE, these free zones are even more popular as they allow business establishment in one of the best markets in the world without restrictions.
Benefits of Free Zone Company Formation in UAE
- 100% foreign ownership
- 100% repatriation of capital and profits
- 100% free transfer of funds, and no foreign exchange controls
- 3-year UAE residence visa
- Easy business setup process
- Abundant and inexpensive energy
- Inexpensive workforce, and easy recruitment procedures
- Efficient communication procedures and single-window administration
- Liberal government policies and legal framework
- The timely and streamlined immigration process
- Sponsorship and visas for an affordable skilled workforce
- Flexibility to operate 24/7
- Freehold offices available for sale or lease
- Ready-made offices, factories, and warehouses
- Easy start-up and licensing procedures
- Unique industry clustering and purpose-built infrastructure
- No restrictions on hiring expatriates
Procedures Involved in UAE Free Zone Business Setup
- Choose the business activity you are planning to do
- Select the legal entity that should come under UAE free zone
- Choose your trade name or company name concerning the rules and limitations mentioned by the free zone authority.
- Apply for the business license according to your business activity.
There are different types of licenses available in the UAE free zone. They are:
- Trading license
- Warehouse license
- Industrial license
- Commercial license
- Manufacturing license
- Service license
The documentation process will be different for different licenses.
- Find an office space that better suits your business activities and license. Flexi desk options are also available in the UAE free zone.
- Take initial approval and external approvals from the concerned authorities and departments.
- Register your company under the free zone authority.
- After 2-3 weeks, obtain the license and start your company.
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Documents Required For Free Zone Business Setup
- The application form should be filled out and signed
- Passport copy and business plan
- Attested and notarized MOAA
- Reference letter from the bank
- In case of a consultancy license, educational certificates are mandatory.
- In case of an industrial license, an existing company profile and investor project profile form are also required.
How does Booming Bytes Business Consultancy Help?
Booming Bytes Business Consultancy helps to establish businesses across the free zones in UAE. Business setup in UAE free zones is a specialty of our firm and we take pride in helping aspiring business owners establish themselves in the competitive market. Booming Bytes Business Consultancy educates our clients about the different free zone and their specialties. This allows them to select a free zone that best aligns with their business activities, and thus UAE free zone business setup is made easy with our professional consultants.