Free Zones in the United Arab Emirates (UAE) are planned to help boost operations between international traders with the provision of 100% ownership and capital repatriation. For a new business owner who is yet unsure of the UAE Market and how to thrive, taking a Freezone license will be helpful.
Free zone offers are by far one of the most prolific methods to setting up a business in the UAE. Usually, the Freezones are well equipped with up-to-date infrastructures, world class business facilities, supple policies and exemption from tax, to name a few. To be more apt, here are more benefits you will enjoy from setting up a Freezone company in the UAE:
- Exclusion from all import and export duties
- 100% ownership for investors regardless of their nationality and domicile
- 100% tax exemption on personal or corporate income or gains
- 100% repatriation of capital and profits
- Exemption from corporate tax for 15 years, with an additional renewal option for 15 years
- No or little capital deposit required
With these benefits in mind, there may be one or more limitations to note:
- A Freezone licensee is usually unable to engage in or conduct business activities with clients and suppliers on the mainland of the respective Emirate.
Additionally, each Freezone has its own advantage over the other. For example, the more than 30 freezones in Dubai are specialized in certain areas and cater to different businesses. Should you wish to be involved in import and export and the need to access Sea and airports, the Jebel Ali Freezone will be most beneficial. If your business is focused on the provision of IT Services, then the Dubai Internet City Freezone or the Dubai Media City Freezone will be the best place to incorporate your company. If you will be trading, the Dubai Multi Commodities centre will be applicable in that regard.
If you are interested in setting up a Freezone Company, Legal Maxims’ Business Consultants are well equipped to allay your fears, worries and answer all your questions while holding your hands through every step of the way. We would ensure that you receive the service you deserve and boycott the stress associated with applications, attestations and all other requirements involved in the Freezone setup and incorporation process.
Here is a list of Freezones in the UAE:
Abu Dhabi
- Abu Dhabi Airport Free Zone (ADAFZ)
- Abu Dhabi Global Markets (ADGM)
- ADPC – Khalifa Port and Industrial Zone (KPIZ)
- Twofour54
- Industrial City of Abu Dhabi
- Higher Corporation for Specialized Economic Zones
- Masdar City Free Zone
Dubai
- Dubai Academic City
- Dubai Airport Free Zone
- Dubai Biotechnology & Research Park (DuBiotech)
- Dubai Car and Automotive City Free Zone (DUCAMZ)
- Dubai Design District
- Dubai Gold and Diamond Park
- Dubai Healthcare City
- Dubai Industrial City (DIC)
- Dubai International Academic City
- Dubai International Financial Centre
- Dubai Internet City (DIC)
- Dubai Knowledge Village
- Dubai Logistics City
- Dubai Media City
- Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
- Dubai Outsource Zone
- Dubai Silicon Oasis
- Dubai Studio City
- Dubai Techno Park
- Dubai Technology and Media Free Zone
- International Media Production Zone
- Jebel Ali Free Zone
- Economic Zones World
Sharjah;
- Hamriyah Free Zone
- Sharjah Airport International Free Zone
- S.A. Regional Trade Center (USARTC) Free Zone
- Sharjah Publishing City Free Zone
- Sharjah Media City Free Zone
Ajman
- Ajman Free Zone
- Ajman Media City Free Zone
Ras Al Khaimah
- Ras Al Khaimah Economic Zone (RAKEZ)
- RAK Maritime City Free Zone Authority (RMCFZA)
- Ras Al Khaimah Investment Authority
- Ras Al Khaimah Free Trade Zone
- Ras Al Khaimah Media Free Zone
Fujairah
- Fujairah Free Zone
- Fujairah Creative City
- Fujairah International Freezone
Umm Al Quwain
- Umm Al Quwain Free Trade Zone (UAQFTZ)
Should you decide on a Freezone company setup, don’t hesitate to Contact Us and we will be happy to grant you a Free Consultation.