- July 27, 2017
- Posted by: Aswani
- Category: Blog
Setting up a new business in Dubai is a highly popular choice among foreign investors and businessmen nowadays. Dubai is a business-friendly destination that offers the perfect environment and taxation benefits for the profitability of a business, which in turn helps it to perform at its best. Moreover, the process for setting up a business in Dubai is also quite well-structured.
The initial cost is affordable, and consultants are there to assist you for each and every aspect. If you are planning to set up your business in a Dubai free zone, you should know that there are several benefits and facilities on offer. But before you move ahead with it, you need to know more about Dubai Free Zone and the associated benefits.
Benefits of Dubai Free Zone Company Setup
Free zone business setup in Dubai is a lucrative option when it comes to starting a new venture or expanding existing business horizons. The industry friendly policies of UAE Government encourage foreign investors to enjoy the attractive Business Opportunities in UAE. No wonder Dubai free zone company setup is the most preferable option among entrepreneurs and investors.
The Ministry of Economy in collaboration with various free zones in Dubai provides several benefits to the business owners. Let’s take a glance at some of them:
100% tax benefits
Free transferring of funds
No import and export charges
No restrictions on currency usage
Full repatriation of capital and profits
Easy recruitment procedures
Quick incorporation procedure
Access to local free zone facilities
Access to multicurrency bank accounts
Points to Consider Prior to Setting up Business in Dubai
Company Registration Process
First of all, to set up business in Dubai free zone, you will have to go through the process of company registration. Let us check the steps involved in company registration in Dubai free zone.
Decide who will be the shareholder of the company.
Decide the share capital.
Get approval for the name and activity from the Department of Economic Development (DED).
Submit all essential documents.
Get tenancy contract approval.
Create MOA and submit to the DED.
Pay all the fees and wait to get the license.
Dubai free zone company setup is regarded as one of the swiftest business setup procedure for entrepreneurs.
Also, it is not very expensive affair. Even then, it is good to consider the following points:
Find a reliable management consultancy firm to get your company registered.
Choose the most suitable free zone to own your business 100%.
Choose the most suitable location that is profitable for your business.
Get visas that permit you and your workforce to live in Dubai and run your business.
In this age of technology, it is possible to get through the procedure of business setup through the online mode as well. You may easily register the name of your company and fulfil other required criteria within a few clicks. In case, you face issues in doing the same, then there are highly experienced professionals who can work on your behalf and communicate with the authorities to set up your business conveniently. Historically, that has been the right way to go about it, which is why you should strongly consider it too.