why setup your business in a uae free zone?

www.iqtesadi.com | [email protected] 1

Register Your Business in UAE Free Zones Why setup your business in a UAE Free Zone? UAE is the only country in the Middle East where a big number of Free Trade Zones and Free Industrial Zones are available for investors who wish to gain more from their investment. The first Free Zone formed was Jebel Ali , Dubai, in 1985 which witnessed a tremendous growth in the years to come by way of increased number of investors. Many have established their offices, factories or warehouses and invested millions which in turn had given them huge returns from the UAE Free Zones. That is precisely the reason why even more foreign investors are being attracted nowadays to the UAE Free Zones. Currently, over 12.000 companies, many of which being major brands, operate under the UAE Free Zones Authority. The main benefits investors enjoy when starting a business in the UAE Free Zones are:

• 100% Foreign Ownership • No Minimum Capital Required • National Sponsor Not Required • 100% Repatriation of Capital and Profits • 0% Corporate, Personal Tax • Residence & Employment Visas • Exemption from all Import and Export Duties • Free Zone Company Formation is Quicker than Incorporation outside of

the Free Zones • Inexpensive Workforce and Easy Recruitment Procedures • Typically, no restrictions on recruiting labour • ‘One-‐stop-‐shop’ for Administration Services • On-‐site Customs Inspection • Legal Documentation & Setting Up Bank Accounts


Free Zone Limitations

• A Free Zone Company is not allowed to trade directly with the UAE market. The Free Zone Company can undertake the local business only through locally appointed distributors.

• Custom Duty 5% is applicable for the local business. Some of Free Zones that we facilitate in starting business

• Dubai Airport Free Zone Authority (DAFZA) • Dubai Multi Commodities Center (DMCC) • Dubai World Central (DWC) • Ras Al Khaimah Free Trade Zone (RAKFTZ) • Fujairah Free Zone Authority (FFZA) • Fujairah Creative City (FCC) • Ajman Free Zone Authority (AFZA)

Even though all free zones provide many attractive schemes for the benefit of the investors, not all are the same when we consider the facilities offered by them. Therefore it will be worthwhile to have a glance over the facilities offered by each, one by one. It is important that new investors get in touch with IQTESADI for latest details before they plan a business activity in any UAE Free Zone. Documents Required for Registering a Business in the UAE Free Zones There are some similar formalities to be completed with regards to the documents which are submitted to each free zone depending upon the type of business an investor chooses. In general, the following are the main options:

• Free Zone Establishment (FZE) (One individual share holder) • Free Zone Company (FZCO) (More than one member) • Branch Office

All of the above types may not be available to every free zone, therefore an investor should seek IQTESADI advice to finally arrive at whether his choice is possible in the concerned free zone and also to know about the details of documents needed. However for the advantage of the investors, descriptions of documents commonly needed are being listed below: FREE ZONE ESTABLISHMENT (FZE)

• Application form duly filled • Business profile of the owner • Passport copy of the owner • Original bankers reference


FREE ZONE COMPANY (FZC)

• Business profile of individuals • Passport copy of owners • Original bankers reference • Board Resolution • Manager’s valid passport copy • Specimen signature of the manager • Original FZCO application

BRANCH OFFICE

• Certificate of Registration • Memorandum and Articles of Association • Board Resolution • Manager’s passport copy and his attested signature • Parent company‘s profile

For More Information and/or a FREE Phone Consultation with a company formation consultant please fill out the Contact us form, Email or Call us TODAY!

WE ARE A ONE-‐STOP SHOP FOR ALL ASPECTS RELATED TO COMPANY FORMATIONS IN UAE

Contact us: [email protected]