Incorporation of companies in free economic zones in the UAE
A free economic zone is a limited area with a special legal status in relation to the rest of the territory and concessionary economic conditions which allow registration of full-fledged companies with the right to open resident visas.
Free economic zones in the UAE have developed rapidly due to a stable legislative base, extensive infrastructure, favorable geographic location of the Emirates and absence of taxes on most activities. To date, the UAE has more than 30 free economic zones which offer various opportunities for development of your business.
Companies registered in free economic zones have several advantages:
– freedom of capital mobility;
– 100% ownership of the business by foreign shareholders or investors;
– absence of tax on exports of goods and services; import of goods into the UAE is taxed (5% on average);
– absence of VAT;
– absence of any restrictions on repatriation of capital and profits;
– absence of profits tax;
– cheap power resources;
– stable legislative base;
– stable political and economic situation.
There are no restrictions on residence and citizenship of shareholders and managers of the company in the FEZ. Business shareholders and investors can be both private individuals and legal bodies.
In addition, presence of the company in the Free Economic Zone allows the shareholders of the company, its managers and employees to obtain a resident visa in the UAE.
To register a company in the UAE FEZ one should have an office (some FEZs offer a virtual office), entry visas for each co-founder, and bring in a standard registered capital (after the registration is completed, the capital is returned). Some free economic zones require no registered capital. The next stage of registration is obtaining a license.
For companies in the UAE free economic zones, several organizational and legal forms and types of licenses are provided. You can incorporate either a new independent company or a branch office of the existing one, and select a license depending on the potential activities.
Business in the free economic zone in the Emirates is a dream that can become a reality!
Our specialists will help you choose the form of the company that is most suitable for your goals and prepare and certify all the documents necessary for its incorporation and operation.