What is a Dubai Free Zone?
These are the special economic zones that offer various benefits and incentives to foreign investors to attract foreign investment and promote economic growth. They provide businesses with multiple facilities that support them and help them flourish.
Benefits of free zone company in Dubai
- Tax benefits
Companies registered in the free zone are exempt from corporate and personal income tax as well as import and export duties. This help businesses to save a whopping amount of money and invest that money to expand and flourish the business.
- Additional support services
Free zone company in Dubai are offered a wide range of support services to help businesses succeed. These services are: –
- Legal and Administrative support.
- Marketing assistance
- Network of suppliers
- Training and development programs.
- 100% foreign ownership
- Simplified process
Setting up a free zone company in Dubai is relatively easy. It requires less documentation and the setup process is designed to be quick and efficient. These areas have minimum bureaucracy and help the business set up and run faster.
- Access to infrastructure
The free zone offers access to world-class infrastructure to meet the needs of different industries. They are designed to offer access to state of art tech including high-speed Internet, telecommunication, and transportation. These zones are the perfect location to get access to modern spaces.
Cons of setting up a business in Dubai free zone
Some of the key limitations of free zone company formation in Dubai up a business are: –
- Restrictions on trade
There are certain restrictions on trade for businesses set up in the free zone. Many times there is a restriction to trade inside the country only.
- Multiple sets of regulations
Free zone authorities monitor free zone companies and they have different regulations that the business has to abide by. This creates a hassle to follow multiple regulations.
- Separate governing body
Authorities in the free zones are not controlled by the government but are controlled by a governing body of their own.
After knowing the disadvantages of free zone companies in Dubai, you must know that limitations are less as compared to the advantages the free zone offer.
Business setup in Dubai with IFZA
IFZA is more than just a free zone community. We are the hub of premium standards in business solutions for micro, small, and medium enterprises with the help of our network of professional partners and government authorities.
We offer a wide range of services:-
- Professional license
We offer professional licensing to multiple types of businesses and provide them with top-notch professional consultancy.
- 100% ownership
We provide businesses with 100% ownership of commercial enterprises and they can expand, diversify, and run their business as per their mission, vision, and goals.
- No physical presence is required
In the world of digitisation, we approve of your virtual presence. We do not require your physical presence during the incorporation process.
- Multinational teams to advise
We offer the support of multinational teams for multiple business activities. They provide you with expert advice and ensure that you have a hassle-free experience.