Have you ever considered starting a business in the land of opportunity? Exploring the list of finest free zones in the UAE is a great place to start. The United Arab Emirates has positioned itself as a business incubator. The UAE is also an excellent investment destination due to its favorable tax structure, numerous incentives, incubator programmes, and other factors. Setting up a business in a free zone is a good place to start. Freezones are jurisdictions that will help you grow your company and keep your entrepreneurial path on track.
Thus in this blog, Dhanguard will extensively discuss the best Freezones which have a lucrative advantage for your business in UAE. So without any further ado, let’s learn!
Benefits of establishing a business in a UAE Freezone
The benefits of establishing your business in a UAE Freezone are the following-
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Foreign ownership is 100 %
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There are no individual, business, or income taxes.
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Capital and earnings are fully repatriated.
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Opportunities from a strategic location
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The setup is simple and quick.
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Infrastructural excellence.
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Import and export duties are not charged.
Best Freezones in United Arab Emirates
Dubai Multi Commodities Center (DMCC)
DMCC has become one of the UAE's most prestigious free zones. It is regarded as the world's number one free zone. DMCC has also played an important role in the development of Dubai's trade and commerce, making it an ideal industry to enter and establish a business in. The DMCC free zone is open to practically any type of business and provides a variety of office options.
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A single DMCC license can cover up to six commercial operations from the same group. The DMCC freezone license is not only confined to industrial, service, and general commerce, but it is also one of only two free zones that allows crypto commodity trading.
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Another appealing feature of the DMCC free zone is that it is one of the few that permits entrepreneurs to obtain a dual license. Businesses with dual licensing can expand their operations to the mainland or onshore. Entrepreneurs must obtain a DMCC license as well as a mainland license in order to be eligible for a dual license.
Jebel Ali Freezone Authority (JAFZA)
Dubai Ports (DP) World considers JAFZA to be its flagship free zone. It is a key component of the integrated business hub of the DP World UAE region. JAFZA is one of the UAE's oldest free zones, having opened its doors in 1985. It is conveniently positioned near Jebel Ali Sea Port, the world's seventh largest cargo port. As a result, it is the best free zone for imports and exports.
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JAFZA has established a standard for other free zones to emulate over the years. This is due to its distinct location and forward-thinking work processes. The jurisdiction has also received ISO certification, which allows for business module diversification.
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Trading licenses, service licenses, industrial licenses, and even e commerce licenses are all issued by JAFZA. JAFZA is an excellent free zone for international firms because of its popularity and expansion (MNCs).
International Freezone Authority
In the United Arab Emirates, IFZA is one of the most sought-after free zones. This is due to the fact that, despite its youth, the free zone has quickly established itself as one of Dubai's most cost-effective business locations.
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The free zone is strategically positioned and has a very low establishment cost. As a result, it is one of the most promising free zones for company development. Entrepreneurs can get a variety of licenses from IFZA. Consulting, service, e-commerce, commercial, and trading licenses are among the types of licenses available.
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One appealing feature of forming a company in IFZA is that it is not necessary to have a real office space to begin a business. This makes it easier for entrepreneurs who wish to start an internet firm because they won't need a physical location, unlike in other jurisdictions.
Fujairah Creative City Freezone
One of the fastest-growing media free zones in the MENA region is Fujairah Creative City. It provides a number of flexible choices for commercial entities to establish themselves.
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Its appeal is also owing to the ease with which one may start a business there. It is not only cost effective, but it is also one of the few free zones that requires the least amount of effort and paperwork.
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Entrepreneurs can perform a wide range of commercial operations in Fujairah's Creative City. These activities mostly focus on the media, events, consultancy, education, marketing, and other related fields. It's also one of the few open zones that allows businesses to set up a virtual office, allowing them to operate from anywhere.
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The company can be founded without the need for the investor and employees to obtain a visa. It also provides low-cost options for individuals who want a visa. The fact that entrepreneurs can obtain up to 20 visas under one trade license sets Fujairah Creative City apart from other free zones.
Sharjah Media City Freezone (SHAMS)
Shams free zone, which opened in 2017, is one of Sharjah's few free zones that offers an easy and rapid startup process with low upfront and renewal charges. Shams has quickly established itself as the UAE's fastest expanding free zone.
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Shams is the ideal free zone for branch enterprises looking to expand their business because of its simple startup process and affordable pricing. They can also choose between forming an LLC and establishing a branch. Entrepreneurs can also register in the free zone without the need for proven documentation.
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Despite its name, Sharjah Media City is not limited to media related activities and encompasses a wide range of others. Shams offers a variety of licenses, including service, industrial, freelancing, trade, and holding.
Sharjah Publishing City Freezone
Another potential free zone with limitless possibilities. The first printing and publishing free zone in the world is Sharjah Publishing City. The free zone provides world-class infrastructure as well as a business-friendly environment to meet varied corporate needs.
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Although the free zone's primary industries are publishing and printing, additional activities such as trading, consultancy, e-commerce, and information technology are permitted. One of the most significant benefits of forming a company in the free zone is that it allows entrepreneurs to undertake up to five activities under one license without incurring additional costs.
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Entrepreneurs who establish a business in the SPCFZ can also apply for a dual license. Residents of the United Arab Emirates can choose from a variety of packages. The free zone allows three types of business structures: free zone establishment (FZE), free zone company (FZC), and branch company.
Ras Al Khaimah Economic Zone (RAKEZ)
When it comes to business settings, RAKEZ is one of the most popular free zones. The free zone's strategic position is one of the most appealing aspects of doing business there. The jurisdiction is close to a seaport and the Ras Al Khaimah (RAK) airport.
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Although RAKEZ is suitable for practically all types of enterprises, it is particularly well suited to those engaged in manufacturing. This is due to the fact that it is one of the few free zones in the UAE that provides custom-built warehouses and industrial land parcels for development.
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RAKEZ is one of the largest free zones in the emirates, allowing for a variety of activities. The free zone's activities are separated into several areas, ranging from commercial, media, and e-commerce to educational activities.
Conclusion
Business registration in the UAE free zone is without a doubt one of the greatest options for entrepreneurs wishing to start a business in the country. Dhanguard is one of the greatest business establishment businesses in the UAE, and they can help you register your business in as little as a week.
Dhanguard guarantees that your company's setup goes as smoothly as possible. Our skilled advisers will walk you through the entire process, from registering your business to comprehending the cost of a freezone license to gaining government permissions. Thus, we hope this blog provided you with insightful information. For more information on other related aspects, feel free to check out our website as well or get in touch with our Experts by visiting our Branch Office.