According to the World Bank's Ease of Doing Business 2021 report, the UAE is the perfect location for businesses for a number of reasons, including the fact that it has the cheapest free zone in the whole Middle East. Numerous foreign and local investors are drawn to it because of its strategic position and tax rate of 0%. UAE offers a quick business climate, whether you're trying to grow your current firm or launch a new one.
In addition to the alluring advantages provided by the emirates, freezones are another factor contributing to the UAE's growth as a major international economic center. Free zones are becoming increasingly popular due to the UAE's booming business environment. However, new age investors can get help from Dhanguard’s company formation experts in choosing the best and most affordable free zone in the UAE.
Thus in this blog, Dhanguard will extensively discuss the cheapest freezones in the UAE. So without any further ado, let’s learn!
Why should you choose a Freezone to start your Company?
Below mentioned are the top reasons as to why starting a company in a freezone is advantageous-
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The UAE government, which has an exemplary infrastructure, is particularly hospitable and supportive of modern investors.
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Businesses operating under UAE law are not subject to currency control limits or import or export levies.
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The full ownership rights that come with starting a business in a freezone are one of the most alluring features. An investor can benefit from 100% ownership in a freezone without the assistance of a UAE sponsor.
The Cheapest Freezones in the UAE
Below mentioned is a list carefully curated by our Company Formation experts, which elaborates the cheapest freezones in the UAE-
Dubai Silicon Oasis (DSO)
In Dubai, DSO is the epicenter of cutting edge technology and development. The employees have access to housing and employment opportunities in this free zone.
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In Dubai Silicon Oasis, you may discover a number of technologically significant businesses, telecommunications firms, etc.
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Despite the fact that this freezone's main draw is technology, you may also find law firms and consulting organizations here.
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The price of a trade license from DSO is also the lowest in the UAE, at less than AED 15,000. This allows you to immediately begin operating your business.
Benefits of forming your company in Dubai Silicon Oasis include:
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The DSO is in close proximity to Jebel Ali Port, Port Rashid, and Dubai International Airport
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It has modern IT infrastructure and a Tier 3 data center
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There are exemption from a number of taxes (including income, corporation, and import/export taxes)
Read More: Why is it Compulsory to Register a Company with Dubai Chamber?
International Freezone Authority (IFZA)
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As one of the main sites for company formation in the UAE, IFZA has gained popularity.
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Over the years, IFZA has developed into a strong platform with an enormous global network of more than 800 partners.
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The best thing is that if you choose IFZA, you can get the cheapest license in the UAE.
Benefits of forming your company in the IFZA include:
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Owners and staff may be granted a visa for up to three years.
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Obtaining authorization to operate a virtual office
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provides a variety of options/ packages for investors to choose from
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There is no requirement for the investor to provide an annual audit report.
Dubai Media City (DMC)
Dubai Media City is the place to go if you're looking to start a media company. With best in class facilities, it serves as a hub for international media and makes it easier for businesses to operate within and outside of Dubai.
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In addition, the DMC jurisdiction offers media and creative business businesses the cheapest business license in the UAE.
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One of the greatest and most affordable free zones in the UAE, DMC has quickly developed into a magnet for international media.
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Businesses including event management, advertising, news media, and many more call it home.
Benefits of forming your company in the DMC include:
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There is exemption from paying customs duties (goods and services)
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There 24 hour visa assistance
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100% foreign ownership
Jebel Ali Freezone (JAFZA)
The UAE's oldest free zone also offers the most affordable terms for starting a business. JAFZA is also one of the biggest free zones on the planet.
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There is no better free zone in the UAE to conduct business than JAFZA for logistics, commodity trading, and shipping enterprises.
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You can operate the company of your dreams in the free zone with one of six different types of business permits.
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In the JAFZA, you are able to start up businesses that are involved in manufacturing, trading, development, and services.
Benefits of forming your company in the JAFZA include:
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There are 0% taxes and duties
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Jebel Ali Seaport and Al Maktoum International Airport are nearby.
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The MENA (the Middle East and North Africa) region's most influential business community
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If you're searching for the UAE's lowest free zone license, you don't need to look any farther than the Jebel Ali Free Zone.
Dubai Healthcare City (DMC)
The first medical free zone in the world is Dubai Healthcare City (DHC). The industries that predominate in this free zone are top tier healthcare institutions, clinics, pharmaceutical education, dealing in medical equipment, etc. It is under DHCA's direction (Dubai Healthcare City Authority).
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The cheapest business license in Dubai for the healthcare industry is available by approaching the DHC's authority and submitting the necessary papers.
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There are also a lot of opulent 5 star hotels, villas, and apartments in the area. Therefore, DHC's goal is to become the world's foremost provider of healthcare.
Benefits of forming your company in the DHC include:
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100% foreign ownership
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DHCA provides administrative support
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There is complete exclusion from taxes and customs fees
Sharjah Media City (SHAMS)
The cheapest freezone license in the United Arab Emirates is presently offered by Sharjah Media City, better known as SHAMS, which offers business setup packages for as little as AED 5,750.
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In addition to one of the 13 activities on the list, the package includes a professional media license.
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One must spend AED 1,000 for each additional activity if they choose to add more.
Benefits of forming your company in the SHAMS include:
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SHAMS is currently one of the best free zones for both seasoned companies and fresh investors.
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A vast number of business pursuits are available through SHAMS.
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The company's operations are not just focused on the media industry, as the name might imply.
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As there are a number of business activities allowed, you can conduct any of them depending upon your license.
The Media Activities conducted in SHAMS include-
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Market research
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Graphic design
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Fashion design
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Advertising
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Digital marketing
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Interior design
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Publishing
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Translation services
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Programming and consultancy
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Media production
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Photography
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Web portal
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Printing
The media license is most appropriate for new entrepreneurs, UAE citizens, and owners of established businesses because this company registration package does not contain any visas. In order to help innovative firms, both small and large, SHAMS facilitates the most affordable company formation in the UAE.
List of the Freezones in UAE
Here is the following list of freezone to learn which businesses are most likely to prosper, as well as how easy it is to set up a firm in the UAE.
Conclusion
With the assistance of Dhanguard, you can compare prices and identify the UAE's cheapest free zone. As a result, they help you select from the various jurisdictions and rules that are applicable to particular free zones. To prevent mistakes, you can follow the advice of our experts as you go through this process. To maximize profits and experience exponential business growth, it is essential to implement your business idea in the ideal free zone ecosystem in the UAE. Thus we hope this blog provided you with insightful information. For more information on other related aspects, feel free to visit our Branch Office or our website as well.