The UAE is the hub of commerce and finance in Western Asia, and its consistent economic growth and stability have attracted investors from various parts of the world. What makes the company formation in UAE much more attractive to investors than several other countries is its free zones.
Free zones are demarcated areas where investors are allowed to have full ownership of their businesses. Apart from that, free zones offer several other advantages, which are listed below.
You Don’t Have to Pay Taxes
Tax laws in the UAE are very lenient, and that leniency is at its peak in the free zones, where companies are allowed to function without having to pay a single penny in tax money. This allows investors to enjoy greater returns on their investments, and also reduces several paperwork related hassles.
The Best in Business Infrastructure
The free zones in the UAE have been developed with a singular purpose; to give businesses the right kind of infrastructure. A great infrastructure is the primary building block of any successful business, and in the UAE free zones, investors are bound to find the very best in business infrastructure. Businesses that are set up in these free zones also receive additional help from the Department of Economic Development (DED) for setting up basic amenities like electricity, water, and internet.
No Profit Sharing
When a business is set up outside any of the free zones, it needs a national partner who owns over half of the company’s shares. This is mandatory in the UAE, and it results in profit sharing that many investors may not be too fond of. However, a business in a free zone does not have to meet such obligations. An investor can claim full ownership, and there is no obligation to share the profits.
No UAE Labour Legislation Restrictions
Businesses outside the free zones typically have to adhere to the UAE labour legislation when they hire employees. However, for businesses in the free zones, there are no such restrictions, and they can hire the personnel they want.
Setting up your business in a UAE free zone can give you a lot of benefits. However, in order to make the setup process fast, you need the help of business setup agencies in Dubai and other parts of the country. At Goldman Consultancy, we boast of some of the most experienced business consultants who assist you greatly in setting up your business in a dream destination for investors around the world.