Establishing a company in the Dubai Free Zone

١٢ يناير Establishing a company in the Dubai Free Zone

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Establishing a company in the Dubai Free Zone Establishing a company in the Dubai Free Zone is an interesting investment option for many entrepreneurs, as these areas provide an ideal business environment for startups, medium and large companies. Free zones are distinguished by their advanced infrastructure, flexible laws, and attractive tax facilities, making them an ideal destination for establishing companies.

Itqan Company provides comprehensive services for establishing companies in the Dubai Free Zone, helping clients start their businesses efficiently and smoothly. The services provided by the company include providing advice on the best free zones suitable for the type of company to be established, arranging the necessary licenses, preparing the required documents, and other important services.

Among the famous free zones in Dubai, Jebel Ali Zone, Dubai Investment Zone, Dubai Aviation Zone and Dubai Media Zone can be mentioned, as these zones have a distinguished business environment that attracts companies from all over the world.

In short, establishing a company in the Dubai Free Zone is an excellent option for companies seeking to benefit from a flexible and favorable business environment, and Itqan Company provides the support and expertise necessary to achieve this goal at the lowest possible costs.

Establishing a company in the Dubai Free Zone

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Conditions and requirements necessary to establish a company in the Dubai Free Zone

To establish a company in a free zone in Dubai , there are specific conditions and requirements that must be met. These conditions and requirements may vary between different free zones in Dubai, and the following are some general requirements that may be among the basic standards:

Company type: You must specify the type of company you wish to establish, such as a limited liability company (LLC), joint stock company, or external branch.
Required Capital: Establishing a company in a Dubai free zone usually requires specific capital. The amount of capital required varies depending on the type of company and the specific free zone.
Company name: The company name must be determined and ensured that it complies with the laws and directives of the free zone and does not conflict with registered trademarks.
Required documents: You will need to submit a range of documents such as copies of passports of shareholders and directors, business plan, and shareholding agreement (in the case of multi-shareholder companies).
Licenses and Permits: The necessary licenses and permits must be obtained for the company’s activity in the designated free zone. These licenses may include business and trade licenses and licenses for economic activity.
Bank Account: A commercial bank account must be opened for the company in the UAE. You will need to submit the required documents and contract with the chosen bank.
Contracts and Agreements: You may be required to sign contracts and agreements with the specific free zone and adhere to specified obligations and conditions.

Investment advantages of establishing a company in a free zone in Dubai

Establishing a company in a free zone in Dubai provides many important investment advantages. Here are some key advantages:

Full foreign ownership: Foreign investors are allowed to own 100% of their companies without the need for a local partner. This provides greater freedom and flexibility in managing the business and making decisions.
Ease of establishment and operation: Free zones in Dubai are characterized by quick and easy establishment and operation procedures. Administrative and organizational procedures are simplified, making it easier to set up a company and get started quickly.
Financial Facilities: Dubai free zones offer a wide range of financial facilities. This includes benefiting from favorable tax policies, such as not imposing corporate income tax for a specific period. Banking, financing and investment services are also available to meet corporate needs.
Access to the global market: Investors in Dubai free zones enjoy significant strategic benefits due to Dubai’s distinguished location as a global trade and logistics hub. Companies can easily access the markets of the Middle East, North Africa, Asia and Europe.
Advanced Infrastructure: Dubai’s free zones provide modern and advanced infrastructure that includes facilities for business, transportation, communications and technology. This helps companies carry out their work efficiently and achieve development and growth.
Availability of Skilled and Multinational Workers: Dubai provides a diverse and skilled workforce from all over the world. Companies can leverage this multicultural and multilingual workforce to meet their needs.

Simplified steps for establishing a company in the Dubai Free Zone

Here are simple steps to establish a company in a free zone in Dubai:

Search and choose a free zone: Search and explore the free zones available in Dubai. Check out the available options and click on the area that best suits your business and requirements.
Market study and business plan preparation: Conduct a market study to understand the potential opportunities and challenges for your business in the free zone. Prepare a business plan that includes the company’s main goal, financial strategy, and marketing plan.
Obtain licenses and permits: You may need to obtain specific licenses and permits to establish your company in the free zone. Contact local authorities for information about legal requirements and necessary procedures.
Choosing a company type and registration: Decide what type of company you want to establish, such as a local company or limited liability company. You may need to employ the services of an attorney or legal advisor to assist you in preparing the necessary documents and submitting the registration application.
Open a bank account: Open a bank account for your company in a recognized local bank in the free zone. You will need to provide the required documents and financial information related to the company.
Rent a space: Get an office space or warehouse in the free zone to carry out your business. Contact the free zone authorities for information about contracts and terms related to renting.
Completing the necessary procedures: You may need to complete some other procedures such as employment insurance, visas, and residence permits if you intend to employ foreign employees.

Tax and customs benefits for companies in free zones in Dubai

Companies located in Dubai’s free zones enjoy several tax and customs benefits. Here are some key benefits:

Not imposing income tax: Free zones in Dubai are income tax-free zones for companies residing there. This means that companies are not obligated to pay income tax on the profits they make. This provides significant financial benefits and makes the business environment in the free zone more attractive.

No value-added tax (VAT): In 2018, VAT was imposed in the UAE, but companies located in Dubai free zones are exempt from paying VAT. This means that it is not obligated to impose this tax on its products or services.
Dealing in foreign currencies: Companies in Dubai’s free zones are allowed to deal in foreign currencies freely, without the need to convert the local currency (UAE dirham). This facilitates dealing with international customers and suppliers and reduces the cost of cash transfers.
Customs duty exemption: When importing goods into Dubai free zones, customs exemptions are applied to the goods. This allows companies to obtain materials and goods at a lower cost and promotes international trade.
Ease of re-export: Free zones in Dubai are re-export centers, where companies can import goods into the free zone, make the necessary modifications or equipment, and then re-export them to global markets with ease and without paying customs duties.

Our services in establishing a company in the Dubai Free Zone

In conclusion of this article, we find that establishing a company in the Dubai Free Zone is a fruitful and attractive option for many entrepreneurs and investors. Dubai’s free zones provide an ideal business environment characterized by simplicity in procedures and low administrative costs, making it easier for companies to achieve success and grow quickly.

With Itqan Company, you can employ this exceptional potential efficiently and confidently. Itqan Company works to provide the necessary support for establishing companies in the free zones in Dubai, through a specialized team that undertakes all necessary steps with precision and professionalism.

In short, establishing a company in the Dubai Free Zone represents a unique opportunity to benefit from the distinguished economic environment in Dubai, and with Itqan Company, you can achieve this opportunity with ease. Choosing Itqan Company is the first step towards building a successful and prosperous company in the Dubai Free Zone.