MoEntrepreneurs are most interested in launching their businesses for the lowest possible price. The UAE offers a wide range of options to entrepreneurs, which can be overwhelming! We have outlined a few factors to consider if you are starting a new business, so you will make an educated decision. You can run a business with minimum costs if you choose the right free zone for your business.
Free zones are designed to boost international business by providing the following features:
- Foreign ownership is allowed at 100%
- The following are examples of tax havens: no corporation or personal taxes, no VAT, no import and export taxes, etc.
- The exchange rate is not restricted
- No trade activities permitted inside the country; international trade only
- Secure and private
- Moreover, there are minimal requirements for registering a company in the Free zone
What makes free zones so attractive to investors?
Investments in the free zones of the UAE will benefit from a number of advantages. In addition, 100% ownership of the business entity, tax-free conditions, a secure banking environment, stunning infrastructure, and an incredibly easy set-up process are some of the most important elements.
UAE Free zones have varying levels of popularity based on various factors. It is suitable for trading, consulting, and services. As Dubai is the center for all business operations in the UAE, the Free Zones in Dubai are among the most popular for setting up a business.
Furthermore, the cost of setting up a business in Dubai’s free zones is on the higher side. In the UAE, you can establish a business efficiently and profitably, and gain a competitive advantage over your competitors, thanks to the many cost-effective business setup zones.
Free zone investment in UAE – the cheapest options
Ras Al Khaimah Economic Freezone (RAKEZ)
RAKEZ has customized solutions for your dream company. Providing cost-effective and state-of-the-art business setup packages is a specialty of RAKEZ. It has the state of the art infrastructure and hi-tech facilities for industrial growth and development.
Rakez’s easy-to-use and fast-to-set-up platform offer a user-friendly environment for investors. There are more than 14000 companies in the RAKEZ database from more than 100 countries. Five parks have been built in the Freezone to meet the needs of investors. In addition to organizations and business parks, RAKEZ also provides industrial parks as well.
It is possible to form a company in a Freezone or a Non-Freezone under RAKEZ. Business and industrial facilities are available in the area. Moreover, RAKEZ is a preferred destination for investors because of the easy access global markets are provided through the UAE’s seaports and airports.
Free Zone of Ajman Media
The cheapest free zone is in Ajman Media City. Investors are attracted to the country for its business permits and also activities. There are shared and Flexi office options available at Media City Ajman. Licenses are either media & creativity licenses or trading licenses. The prime location is favored by entertainment and media companies for setting up offices. Additionally, the profitable establishment of a business enterprise can access by creative and media agencies.
Within the Ajman Media City Freezone, a number of company types can be formed, including Freezone establishments (FZE), Freezone companies (FZCO), branches of foreign companies, subsidiaries of foreign companies, and also branches of UAE companies.
The Ajman media city free zone offers a number of benefits
- Foreign ownership at 100%
- Taxes on income or corporate
- One license for multiple activities
- Profits and capital will repatriate 100%
- Licenses can issue in a matter of days (2 days)
- Registration is quick and easy
IFZA (International Free Zone Authority)
As one of the most efficient business centers in the UAE, the International Free Zone Authority (IFZA) is located in Dubai. In addition, you can use it to set up your first business in the UAE, and it offers many viable options.
Offering modern office solutions that meet international standards, investors have access to a wide array of options. The warehouse facility can build according to several international logistics standards. Through IFZA, investors can also reduce their operational costs through flexible leasing and Flexi-desk solutions.
IFZA offers the following types of licenses
- Management Consultants, HR Consultants, etc., can benefit from this license.
- The Service License can use for the creation, transformation, and distribution of businesses that offer services license for industries — Suitable for companies that manufacture, package, import, and also export products.
- Holding Licenses allowing you to own assets or shares of other companies
- Licenses for trading best suits to companies that deal in specific goods
- License for general trading – for companies that trade a variety of products
- Managing and incorporating a company is simple and fast
- Our company offers a wide range of services (Consulting, Trading, etc.)
- 100 percent foreign ownership
- FX restrictions are not in place
- It is not necessary to have a physical office
- You don’t need to capitalize
- It is also possible to incorporate holding companies
- The ability to create an LLC with the suffix LLC after the company name
- Tax exemption of 100% for corporations and individuals
Sharjah Media City Free Zone (SHAMS)
In 2017, the Sharjah Media City, also known as SHAMS, inaugurated this creative hub in the United Arab Emirates. SHAMS has a good number of startups in attendance. Using the platform, you can set up a small business, a startup, or an enterprise of all sizes at an affordable price. In addition, it offers several licensing options at a very low cost of $50 per year for media, advertising, production, and design. Aside from this, it also offers a vast array of services, consulting, and trading.
SHAMS offers the following licenses:
- Service License- Businesses that focus on providing services receive service licenses
- Commercial License – A license given to a company that conducts trade of a specific type of merchandise
- Professional License – A license conferred on specialized professionals who also provide consulting services
- Media Licence – Admitted to operating as a provider of advertising, production, and production support services.
- General Trading License – A license granted to a company that carries out multiple types of business
The ease of doing business in the UAE, the government’s support for entrepreneurs, the availability of secure banking facilities, and also its proximity to airports and ports have all helped to position the UAE as a strategic business location. In other words, being in the United Arab Emirates will guarantee your brand growth and success.