PMC Solutions DMCC – Your Strategic Partner in Dubai Freezone Company Setup
Getting an Overview about Dubai
Dubai is situated on the coast of the Arabian Gulf. It is one of the members of the Emirates and also the most developed among the members. Dubai was earlier known for its leading oil industry in the world, but the economy has gone through a drastic change and in the last 2 decades and the scenario has changed from oil-based economy to a multi-business economy.
It has now developed itself as a global city and a business hub of the Middle East region which is not less than any developed city of the western world. The exemplary model of business is much diversified and is the reason which is driving the economy of the country. The federal government has been setting free zones in Dubai, to attract foreign investment in the country. There are various lucrative benefits and incentives to foreign investors for setting up their businesses in the free zones of Dubai.
Why set up a Business in Dubai Free Zone?
There are numerous advantages to setting up a business Dubai Free Zone. Listed are some of the benefits a business could gain:
- The free zones are equipped with state-of-the-art infrastructure, world-class business amenities, tax exemptions, and many other unmatched facilities.
- 100% foreign ownership is allowed, irrespective of their nationality
- 100% exemption on personal income or corporate taxes
- 100% repatriation of capital and gains
- All import and export duties are exempted
- Rental offices and ready to use warehouse facilities
- 15 years exemption on corporate tax and renewable for the next 15 years
- Follows the policy of privacy of operations
- Flexibility to engage in international business
- Fewer renewal charges
- Flexibility to own properties, and open a bank account in Dubai
- Facility to participate in multiple activities
- The option of liquidation is available
- Assistance and guidance in staff visas, housing facilities, and other support services
Free Zones in Dubai – An Ample of Opportunity for Businesses
Currently there are around 28 Free Zones in Dubai which offers a wide spectrum of commercial activities.
Here’s a list of Free Zones in Dubai:
- Dubai Academic City
- Dubai Airport Free Zone Authority (DAFZA)
- Dubai Biotechnology & Research Park (DuBiotech)
- Dubai Car and Automotive City Free Zone (DUCAMZ)
- Dubai Design District
- Dubai Gold and Diamond Park
- Dubai Healthcare City
- Dubai Industrial City (DIC)
- Dubai International Academic City
- Dubai International Financial Centre (DIFC)
- Dubai Internet City (DIC)
- Dubai Knowledge Village
- Dubai Logistics City
- Dubai Media City
- Dubai Multi Commodities Centre (DMCC) or Jumeirah Lakes Towers Free Zone
- Dubai Outsource Zone
- Dubai Silicon Oasis (DSO)
- Dubai Studio City
- Dubai Techno Park
- Dubai Technology and Media Free Zone
- International Media Production Zone
- Jebel Ali Free Zone Authority (JAFZA)
- Economic Zones World
- Meydan Free Zone
- Dubai South or DWC
- Dubai Science Park
- Dubai World Trade Centre (DWTC)
- Dubai Creative Clusters Authority
Available License Options for Setting Up Business in Dubai Free Zones
Many types of Licenses are available in Dubai Free Zone for Business setups depending upon their commercial activities. The free zone authority offers the following types of Business Licenses for Dubai Free Zone Company set up:
- Trading License
- General Trading Activities
- Service License
- Industrial License
Permissible Business Entities in Dubai Free Zone Area
Dubai Free Zone allows the following types of Business Entities
- Free Zone Establishment (FZE)
- Free Zone Company (FZC)
- Branch Office
How to Start a Company in Dubai Free Zone – An outline of the procedure
- Business activity – It starts with the decision on business activity which an investor is willing to undertake. The license type also depends upon the nature of the commercial activity.
- Choose a free zone – Once the decision on the business activity is taken, the next decision is which free zone is right for the business. As there are sector-specified free zones like trading, IT, commerce, healthcare, etc. therefore, some research work is necessary.
- Register a company name – Certain regulations need to be followed before registering a company name; also, some standards must be adhered to. Before finalizing a name, the investor must ensure that the business name is available to the company registrar.
- Apply for a license – On deciding upon the business activity and registration of the trade name, the next step is to apply for a valid license. To apply for the same, the investor needs to fill the application form along with the required documents, as asked in the form.
- Open a bank account – Opening a corporate bank account is another process. Some documents along your business license are required to open a bank account in Dubai in the name of the business.
PMC Solutions DMCC assists you in Establishing your Business in Dubai Free Zone
PMC Solution DMCC is a renowned company formation specialist in Dubai. We provide the best business consultancy services in the UAE. Our team of experts helps in assisting the investor to go through the process of company registration and guide him at every stage of achieving a license. Our years of experience make the process hassle-free for the investor.
PMC Solutions DMCC helps in the decision-making process at various stages, handling of documents, obtaining a license, opening a bank account, and applying for the visa.
Contact us, if you are interested in setting up a business in Dubai and we will be happy to serve you.