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The Benefits Of Setting Up In A Free Zone In The UAE

The United Arab Emirates is considered to be one of the most attractive jurisdictions for carrying on business and setting up companies. The UAE’s authorities aim to make it as easy as possible for foreign companies to start a business in the country. This is the guiding idea behind the wide range of options available in the UAE’s free zones, offshore companies and mainland businesses.
There are numerous advantages of setting up a company in one of the UAE Free Trade Zones:
  1. 100% Ownership. This feature of free zone companies is what attracts the majority of the interest.
  2. Tax Exemption. Companies within the free zone are allowed exemption on taxes.
  3. Import Duties Exemptions. Imports within free zones are exempted from the 5% custom duty.
  4. 100% Confidentiality. The assets owned by a free zone company is kept in confidence by the Freezone Authorities.
  5. No Trade Barriers. Companies are free to trade with other companies all over the world with no trade limitations, and to trade freely within their own free zone and other free zones within the UAE
  6. Strategic Global Location. It is often said that a third of the world’s population lives within four hours of the UAE – meaning many of your clients in Asia, Africa and Europe can be easily reached. In this way, a base in the UAE provides a central location from which to expand internationally.
  7. State Of The Art Infrastructure. Free zones have a competent infrastructure and provide a constructive business platform for various businesses to grow and excel in their respective verticals.
  8. Support Services. The free zones assist foreign entrepreneurs in labor recruitment and other services like sponsorship and accommodation.
  9. Easy Administrative Processes & Auditing. Setting up a branch in the UAE is usually fast and efficient, and you can expect to open your premises within days. You won’t need to set up a separate finance function within your branch office as you won’t be required to submit audited accounts in the UAE. But, if your parent company does require its books to be audited, all money that passes between the parent and branch is legally tracked, offering you a watertight audit trail.
Another favourable feature of using the UAE FTZs is the provision of residence visas for all the members of the management board, shareholders and company employees. The possible number of such visas usually depends on the total area of the rented space (1 visa — 10 square metres). However, the exact terms may vary in different FTZs.
World CEO Forum platinum sponsor, SAIF Zone, are one such free zone within the UAE. With a business setup of just 24 hours and dedicated to quality and excellence, SAIF Zone is the symbol of efficient operations. Accessible to seaports on the Gulf of Oman (Port Khor Fakkan) and the Arabian Gulf (Port Khalid), SAIF Zone is built adjacent to the Sharjah International Airport.
Book your tickets to attend the World CEO Forum, where you will receive first-class access to connect with SAIF Zone CEO Saud Salim Al Mazrouei, as well as first-rate service into getting your business set up here in the UAE. For more information and to book, visit https://www.worldceoforum.com/.