Free zones refer to the special zones and jurisdictions that grant business establishment license to the company along with tax exclusions. In UAE, there are a total of 40 free zones in which the company can operate. The company has to take the license from the Freezone Authority to execute operations in the Freezone Company. But now, the Dubai free zone council allows the company to plan a Single License to operate in all Free Zone.
The single license system can help hundreds of businesses to grow rapidly and enhance their operations. This can provide an opportunity to the small scale businesses to grow big and better.
What are the Benefits of forming a free zone company?
The importance of forming a free zone company is that it allows the business owner to get foreign ownership. It can allow forming a company without a local sponsor.
No currency regulations
The businesses operating in UAE free zone can easily make foreign currency transactions. The government of UAE does not impose currency restrictions on the company’s operating in free zones. This makes it easier for the companies to run their businesses out of the country.
The companies operating in Dubai free zone can get 100 percent exclusion in income and corporate tax. The companies operating in the free zone can take maximum benefit of the unified license for the free zone. Due to this benefit, they can enhance their activities effectively and efficiently.
Easy labor recruitment
The important benefits of the unified license are that the free zone companies can conduct the labor recruitment process effectively with a minimum budget. Also, the companies can recruit foreign nationals which provides a brilliant opportunity for the business to grow in other countries too.
The companies can easily find the warehouse and office spaces in a free zone. Which can help the company to start their operations smoothly and quickly. Also, the UAE free zones are very ideal for start-ups and small businesses.
Hassle-free immigration procedures
The UAE free zones have a good connection with the immigration department that can help the companies to complete their immigration process effectively and efficiently.
The incorporation procedures in the free zone areas are very easy and do not require complex activities. So, the companies can accomplish the incorporation procedure in less time as compared to other zone jurisdictions.
The free zone provides the company a chance to enhance their activities help them to grow in the market. The government decision of the single license to operate in a free zone has given a chance to many small scale company, to enhance their work and to become a large scale company.
The company plan to set-up their business in Dubai should definitely set-up their business in Dubai free zone. To get the desired output and also to achieve the goal of the company in less time.