UAE is fast growing as one of the most sought after destinations for businesses. For a long period, the Middle East was looked upon as a destination only for oil companies. However, with the evolution of technology and a change in the mindset, locations like the United Arab Emirates are now offering companies a significant value proposition. This is evident from the ranking provided to the UAE by the global business community on different aspects.
If anyone wants to start a business in the UAE, there are many free-zones for you to choose from. It can be established in many ways –
- Open a business firm that is affiliated with a foreign company
- Open a business firm that is affiliated with their local company in the UAE
- Open a business firm that is affiliated with a foreign company
- Open a new business, which is owned by two or three local business partners
Essentially, a Free Zone (specific to an industry or attached to ports) or Free Trade Zone was created to encourage the growth of international businesses. It offers the convenience of single window administration and allows for 100% foreign ownership.
Starting a business in the UAE free zone offers many incentives to investors:
- They can have 100% of business ownership of the Foreign Investor
- They do not have to pay any customs duty or corporation taxes for 50 years
- A Sole-Proprietorship can have 100% foreign investment without involving the local partners
- They do not have to pay any personal income tax to the government
- The UAE Free Business Zones incorporate state of the art infrastructure
- The business zones have an attractive working environment as well as modern communication facilities
- The work personnel is comparatively cheaper and can they follow a hassle-free recruitment procedure
- Faster to incorporate a company within a Free Zone
In the UAE, there are around 45 Free Business Zones. Some of the important ones are listed below:
Abu Dhabi Airport Free Zone:
Abu Dhabi offers one of the most lavish and the premium free zones of Abu Dhabi Airports Company. This free zone offers many advantages to the companies like foreign company ownership; they have direct access to the airport for easy import and export of the products, online customer support, and modern business facility at only one stop.
Dubai Airport Free Zone:
The Dubai Airport Free Zone is ranked one among the busiest airports in the world with most important trade units, which connect to the world. The access to all the large vehicles with efficient handling of cargo makes it the ultimate destination for all types of the business.
Ajman Free Zone:
This is one of the biggest free trade zones in the UAE, This Free zone contribute 20% of the industries. It has easy access to the Arabian Gulf, and this zone is well equipped to handle both the eastern and western markets.
