Entrepreneurs continue to turn to free zones owing to their numerous advantages. UAE free zones offer perks such as exemption from corporate tax, among other tax benefits, full foreign ownership, and freedom to repatriate profits and capital, to mention a few advantages, although not all are the same and that’s the reason for this article.
The extensive network and support resources also make setting up a company in UAE free zone alluring and profitable. Before you pick a UAE free zone, quick research to find out if it is best suited to your business industry is recommendable. Let’s look at some of the best UAE free zones to get you started.
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DMCC Dubai has featured in Financial Times, winning the Global Free Zone of the Year award more than once. Apart from being the largest Dubai free zone and strategically located, DMCC appeals to more entrepreneurs as it offers a freehold option. This means that you can buy a property and the land it occupies even if you aren’t a UAE resident. From the financial to commodities industry, DMCC got you covered as you aspire to run a successful venture in UAE free zones.
Are you looking to venture into trade or logistics? KIZAD is an industrial hub that offers exciting packages, including Flexi desks, meaning that you don’t have to deal with the hassles of finding and renting property for your business. The Abu Dhabi free zone also provides competitive rates that are lower than you’ll find in Dubai, making it a cost-effective region. The best part is that even without a physical office or Visa, you can open a bank account in UAE after registering your company.
In 2017, Ras Al Khaimah Economic Zone (RAKEZ) was declared by FDI as the most cost-effective free zone. While the small Emirates region doesn’t offer numerous free zones, they deliver inexpensive solutions. The best part is that setting up a company in the region is easy. Cost-effectiveness, setup ease, and catering to various industries are the main highlights that make RAKEZ an appealing destination for investors.
Umm AL Quwain is a startups’ and smaller businesses’ marvel. The region isn’t focused on a single industry but instead offers an amazing environment for businesses in various sectors. UAQ FTZ also offers competitive financial incentives, not to mention that you won’t be required to pay tax for setting up a company. The best part is that you won’t be dealing with fierce competition as the region isn’t in Dubai.
If you are looking to tap into the ever-booming media and creativity, AMCFZ is your go-to UAE free zone. Setting up a company is easy; you’ll enjoy quick registration, with your business taking as fast as one day to be issued. The free zone offers a wide range of business packages, making it easier to find a solution that best matches your situation.
How would you fancy setting up multiple business activities using a single license? That’ possible at SHAMS, the fastest growing free zone in UAE. Setting up your business won’t cost you a fortune as the free zone is relatively cheaper than the rest. Another notable perk is that SHAMS utilizes a proactive method to support businesses, making it easier to set up your company and get it running with little to no friction. Much like the name suggests, the progressive free zone is a go-to for entrepreneurs looking to tap into the media industry.
Is connectivity a concern for your business? If yes, then Dubai South UAE free zone is your go-to. The free zone is in proximity to Jebel Ali Seaport and AL Maktoum International airport. Due to its well-connected nature, the free zone is best suited to businesses looking to tap into aviation, hospitality, and logistics. Still, it doesn’t mean that you won’t thrive in other areas as it offers an extensive pool of resources.
UAE offers a rich pool of free zones. As you hit the ground, comparing various free zones and enlisting reliable professionals to facilitate setting up a company in a UAE free zone is recommendable to make the process as painless and productive as possible.