The corporate industry for business setup in Dubai has been surging with growth opportunities for entrepreneurs from all over the world. One kind of business setup in Dubai that has been really experiencing growth is that of an established free zone. Free zones are areas for businesses in Dubai that are in place for industry-specific purposes. Starting a free zone business setup in Dubai is a daunting task however with the right professionals this can be made incredibly easier. This is why RAS corporate advisors can aid you in finding the right direction instantly. Free zones are one of the two kinds of company options that the UAE provides you with and these come with multiple benefits for entrepreneurs. So, here is all you need to know about what these economic zones offer and how RAS corporate advisors can help you in starting a free zone business in the UAE:
What is a free zone in Dubai?
Free zones are usually economic zones expressly dedicated to foreign trade enterprises from within the UAE boundaries. These areas ensure 100 percent ownership of the business, including tax retention, which is also given to foreign nationals. The UAE has a range of free zones in place that are eligible for particular uses in the industry.
The difference between a mainland company and a free zone business:
Mainland businesses are the most commonly preferred forms of business setup in Dubai, but a wide range of advantages are given to free zone businesses. A free zone company effectively allows you to conduct business either inside the free zone or outside the UAE market, while a mainland company can conduct business outside and within the UAE. Secondly, 100 percent ownership is allowed by a free zone business setup in Dubai, while a mainland corporation allows an ex-pat to own a 49 percent stake in the business.
Thirdly, free zone companies do not have to have a required office space, although a minimum of 200 square feet of office space is required for mainland companies. Fourthly, free zone companies have a restriction on the number of visas that can be used, but unrestricted visas can be requested for a mainland company. Finally, a free zone business setup in Dubai costs less, but the cost of starting up a mainland company is substantially higher.
Types of free zones in the UAE
- Abu-Dhabi free zones:
- Abu Dhabi airport free zone
- Abu Dhabi global markets
- ADPC Khalifa port and industrial zone
- The industrial city of Abu Dhabi
- Higher corporation for specialized economic zones
- Masdar city free zone
- Ajman free zones:
- Ajman free zone
- Ajman media city free zone
- Sharjah Free zones
- Hamriyah Free zone
- Sharjah Airport international free zone
- Sharjah publishing city free zone
- Sharjah media city free zone
- Ras Al Khaimah free zones:
- Ras Al Khaimah Economic zone
- RAK maritime city free zone authority
- RAK investment authority
- RAK Free trade zone
- RAK media free zone