Dubai’s free zones are designed to attract international investors and entrepreneurs. Here’s why you should consider setting up your business in a free zone:
- Full Foreign Ownership: Unlike mainland companies, no local sponsor is required.
- Tax Advantages: Benefit from 0% corporate and personal income tax.
- Customs Duty Exemption: No import or export duties within the free zone.
- Streamlined Processes: Fast-track business registration and licensing procedures.
- Global Market Access: Located strategically for international trade.
2. Types of Businesses You Can Start in Dubai Free Zones
Dubai free zones cater to a variety of industries, including:
- Trading and Import/Export
- IT and Technology
- Media and Advertising
- E-commerce
- Manufacturing and Warehousing
- Education and Consultancy
Each free zone is tailored to specific business sectors, offering licenses and regulations suited to different business activities.
3. A Step-by-Step Guide to Setting Up a Free Zone Company
Step 1: Choose a Free Zone
Select a free zone that aligns with your business type. For example, Dubai Internet City is ideal for tech companies, while Jebel Ali Free Zone is perfect for logistics and manufacturing.
Step 2: Define Your Business Activity
Clearly define your business activities to determine the appropriate license type.
Step 3: Register Your Business
Submit the application and necessary documents to the free zone authority.
Step 4: Obtain Your License
Once your application is approved, the free zone authority will issue your business license.
Step 5: Open a Bank Account
After obtaining the license, open a corporate bank account to manage your finances.
Step 6: Lease Office Space
Depending on the free zone, you may need to lease office or warehouse space as part of the setup process.
4. Documents Required for Free Zone Business Setup
To establish your business, you’ll need the following documents:
- Passport copies of shareholders and managers
- Proof of residence (utility bill or tenancy contract)
- Business plan (if required)
- Application form from the free zone authority
- Initial approval certificate
5. Costs Involved in Free Zone Company Setup
The costs for setting up a company in a Dubai free zone can vary depending on the free zone and the type of business. Common expenses include:
- License Fee: Ranges from AED 10,000 to AED 50,000 annually.
- Office Space Rental: Starts from AED 15,000 per year for shared workspaces.
- Visa Fees: Approximately AED 3,000 per visa.
Some free zones offer bundled packages, which include licenses, visas, and office space, providing a more cost-effective option for entrepreneurs.
6. How Raes Associates Can Help
Setting up your business in a Dubai free zone can be a seamless experience with expert guidance. Raes Associates has extensive experience helping entrepreneurs navigate the complexities of establishing a business in Dubai’s free zones.
Our comprehensive services include:
- Choosing the right free zone for your business.
- Preparing and submitting necessary documents.
- Assisting with visa applications.
- Setting up corporate bank accounts.
With Raes Associates by your side, you can confidently establish your business in Dubai and focus on growing your company.
Contact Raes Associates today to begin your journey toward launching a successful business in one of the world’s most business-friendly environments. Let us handle the details, so you can focus on what you do best—growing your business!