Definition:
- Free trade zone, an area in which goods may be landed, handled, manufactured or reconfigured, and re-exported without the intervention of customs authorities
Major Benefits of
having a Free Zone:
Free trade zones in UAE are benefiting from
·
100% foreign ownership of the enterprise
·
100% import and export tax exemptions
·
100% repatriation of capital
·
100% repatriation on profits
·
Corporate tax exemptions
·
Zero personal income taxes
·
Eligible for sponsorship of family members and housing
·
Eligible to recruit Labors and business support services within
the Free Trade zones.
·
To buy Free hold properties under the Company
Categories
of Free Zones in UAE:
Mostly in UAE Free zones are designed with
certain Industry or Categories and they encourage such licenses within these
categories only.
There are nearly 38 Freezones currently
operating here in UAE and still some more under development stage.
An Investor has variety of options to
choose from all these Free Zones depending upon his Activity Category, area of
Operation (like within UAE or Outside UAE) and the geographical location. An
Investor also has an option of structuring his Company either forming a Sole
Establishment called FZE(Free Zone Establishment) or a Free zone Company(two
and more partners) or Branch/ Representative Company with having Foreign or
Local Parent Company. A FZE is a Limited Liability company complying with the
Rules and Regulations of each and every Free Zones separately.
Some
example:
DAFZA(Dubai Airport Free zone Authority) –
As the Name depicts this Free Zone is located at the close vicinity of the
Dubai Airport Terminals. And here they mostly encourage the
Activities/Categories similar to Logistics & Cargos Handlers etc….
DWC(Dubai World Central) – This is the
Latest and Newly formed Free Zone which
mainly promotes the Logistic and Flight Engineering Companies.
Likewise there are different Free zones
within UAE serving toward the Needs of the New expats who is willing to Start a
100% Owned Business.
Why you
need to Choose LexBiz Consulting as your Advisor?
We in LexBiz Consulting have expert
Consultants ,who can advise you in a more practical and legal way of doing
business here in UAE. A One Stop shop for all your business needs. Based on the
past experience and the information from the Case study that we had with other
project would add a valuable input for you to decide on which Business you
should adopt.
Special
Offers on this Summer:
Look out for our Special Offers and
Packages that we had rolled out exclusively for this Summer and make use of it.
This is an unbeatable Offer with 3 options to choose.
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