In the wake of the noticeable shift away from the oil trade, investors in Dubai have been looking for alternative business activities and potential income opportunities for some time. The United Arab Emirates is becoming increasingly popular among foreign investors due to its strong economy and the free zones have become popular locations for foreign investors to set up shop.
There are incredible benefits available in the UAE for hardworking professionals. With more opportunities for investment and income sources than ever before, the UAE economy continues to thrive, which is why this location has attracted such an international appeal.
What Is A Free Zone?
Free zones are economic zones that allow the exchange of goods and services. It is common for free trade zones to have 0% tax rates, preferential customs duty rates, and a 100% exemption from import and export taxes. Free zones are particularly popular among entrepreneurs who place a high value on privacy. As the company is 100% foreign-owned and there is no open directory of company details, sensitive corporate information, such as shareholder details, is not disclosed to the public.
Dubai’s bustling areas and services offer investors and businesspeople easy access to each industry. Within each free zone authority, multiple corporate activities can be conducted. A free zone can be established for the purposes of infrastructure, education, construction, and retail, just to name a few.
Why You Should Consider Free Zones For Your Business
A thorough understanding of what a free zone is and why foreign investors prefer them will assist you in deciding whether to establish your business in one. Throughout this section, we will examine the plethora of reasons why free zones are outstanding trade areas where domestic and international businesses can flourish.
In order to begin with, you should be aware of the advantages that an investor can enjoy through a business set up in Dubai’s free zones. These advantages enable them to grow easily and without having to undergo lengthy procedures. If you are a new investor, you can take advantage of the following benefits:
- The income of individuals and corporations is exempt from taxation, as well as imports and exports of goods and services.
- Obtain 100% foreign ownership of your company and repatriate all profits and capital.
- A world-class infrastructure, office space, and warehouse are already in place.
- A legal framework and company regulations that are business-friendly.
- The ease of the setup process and the quick access to professional workers.
- A friendly business environment and easy incorporation of the company.
- Global connectivity, transportation, and other resources are efficient.
Build your own enterprise in a Dubai-free zone today, whether it’s an entrepreneurial dream or a large-scale endeavour. Take advantage of the free zone benefits by trading from the UAE. As you learn more about what a free zone is and the advantages it offers, it will give you a better understanding of the best way for foreign businessmen to develop their companies with guaranteed success.