Industries are considered to form the pillars of a nation’s success. The UAE was early to realize that they need entrepreneurship of the highest order, to build their economy. Subsequently, they incorporated numerous innovations to create a liberal domestic market, where all premier global business establishments thrive. This includes the conception of Freezones.
Freezones are specialized industrial zones distributed all over the UAE which are meant to encourage the development of certain forms of industry. Licenses are certified to only those companies who operate in the mentioned sectors.
Benefits for a Business Establishment within a Freezone
- A Freezone company is allowed to be of absolute foreign ownership, without the necessity for a local sponsor.
- Little or no corporate taxes are levied within Freezones.
- No personal taxes are applicable, thus, attracts human resources.
- Taxes are only levied if goods are brought into the Emirates.
- A flexible administrative framework, requiring minimal documentation.
- Land may be leased on a long-term basis for business ventures in Freezones.
- Freezone regulatory authorities provide legal aid, immigration, housing, and manpower to the industries.
- The entire capital of an offshore industry, along with a chunk of its profits, may be repatriated.
- The procedure to start a company involves minimal stress and a short span of time.
Freezone Business in Abu Dhabi
Investors are offered 3 avenues for registration of their business ventures; Free Zone Establishments (FZE), Free Zone Companies (FZC), or as auxiliaries of the parent company based either, in the UAE or overseas. The major economic zones of Abu Dhabi are:
- The Khalifa Industrial Zone (KIZAD) in Abu Dhabi is amongst the most expansive and well-designed Freezones of the UAE. It encourages logistics, trade, and manufacture. Industries are offered supreme qualities of infrastructure, requiring low operational expenditure.
- The Abu Dhabi Airport Free Zone is another comprehensive industrial park targeted at the aviation, aerospace, cargo, freight, and logistics sectors.
- The Masdar City Free Zone is a unique industrial zone which is aimed at the development of clean technology and renewable energy.
- Twofour54 is a media free zone in Abu Dhabi developed to promote mass media entrepreneurship.
Freezone Business in Dubai
Dubai, a city which is a pioneer of global open trade, is home to an astounding number of specialized industrial parks. A Freezone Company formation in Dubai may be done in the form of a Freezone-Limited Liability Company (FZ-LLC), frequently necessitating, the presence of a native corporate individual as a shareholder. The eminent Freezones in Dubai are:
- The Dubai Internet City (DIC) is targeted to optimize productivity in the sectors of software development, hardware sales, e-commerce, marketing, business consultancy, and business services. Sprawling across an extensive space of one and a half million square feet, it is home to all the major global technological giants. It accommodates a countless number of start-ups as well.
- The Dubai Airport Free Zone (DAFZ) is the leading economic zone in the UAE. Boasting of a long history, its regulatory authority provides exemplary infrastructure to entrepreneurs for conducting business in a wide array of sectors.
At Goldman Consultancy, we provide a variety of services to assist entrepreneurs, in their effort to tap the unending potential for financial growth in the UAE. Our organization is based in Dubai and possesses the expertise to effectively guide your venture in the best direction.