business set up in dubai -set up business in dubai

business set up in dubai

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The United Arab Emirates is a federation of seven emirates; Abu Dhabi, Dubai, Sharjah, Ras Al Khaimah, Ajman, Umm Al Quwain and Fujairah.

UAE Free Zones (sometimes called a free economic zone, tax free zone, trade free zone or free trade zone) are geographically distinguished areas subject to laws and regulations different from the laws governing resident companies of UAE. Free Zones are insulated from the different laws governing the land of UAE. Allowing 100% foreign ownership is one of such deviations from laws governing UAE lands outside the Free Zones. The companies registered outside free zones allow only maximum 49% foreign ownership and at least 51% of the ownership has to be held by a UAE National. A Free Zone entity is also free from tax on corporate gains - usually guaranteed for 15 or 50 years. Each free zone has its own specific requirements regarding minimum office/warehouse space and permitted activities.

The major attraction of setting up business in Free Zones is the 100% ownership allowed to foreign investors. The incentives for a Free Zone entity are

·         100% foreign ownership

·         Exemption from tax on corporate gains or personal incomes

·         Exemption from tax on corporate gains or personal incomes

·         No currency restrictions

A business may be set up either as

·         Free Zone Company (allows 2 to 5 shareholders)

·         Free Zone Establishment (with just one shareholder / owner)

·         Branch / Representative Office of Foreign Company or UAE company

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set up business in dubai