Also in the news...
Relocating to a new country to start a business or get an exciting new role is an exhilarating process, but you need to make sure that you’re fully prepared.
Secretary of State for International Trade, Anne-Marie Trevelyan, welcomes overseas investors and delegates to the Global Investment Summit in London.
Guidance for UK businesses on rules for selling services to Croatia.
The strategic partnership with the Breakthrough Energy Catalyst will mobilise £200 million of private sector funding over 10 years.
It’s recent news the Superbonus 110% has been recently extended to 2023, and this is great if you intend to renovate your home. Superbonus 110% isn’t the only available tax break on house renovations; find out how you can save on your taxes whilst renovating your Italian home.
4 Cost Effective Freezones in the UAE
The Freezones in the UAE has already gained acclaim among investors. The Freezones in the UAE offers a whole lot of infrastructure and business support to the investors. There are more than 40 Freezones currently in the UAE.
The Freezones in the UAE is categorized broadly based on the business activities each Freezones are specialized in. For example, a Media Company is advisable to be registered in any of the Media City Freezones such as the Dubai Media City, Fujairah Creative Zone, Sharjah Media City, etc.
Why is Freezones the Popular Choice of Investors?
The Freezones in the UAE offers a host of benefits for its investors. The most important ones being the 100% ownership of the business entity, profit repatriation, tax-free environment, secure banking system, world-class infrastructure, fast and easy business setup, etc.
There are various factors that determine the popularity of a Freezone in the UAE. For general trading, consultancy, service industry,etc., the Freezones in Dubai is the most preferred as Dubai is the center for business activities in the UAE.
The location of the Dubai International Airport is a key attraction for services and consultancy businesses to set up their base in Dubai. The ability to travel seamlessly to any part of the world, conduct business meetings and fly in and out of Dubai, etc., are few direct benefits from setting up your business in Dubai.
When it comes to the business setup cost, the Freezones in Dubai comes at a premium. There are a couple of cost-effective Freezones in the UAE that offer unmatched business setup solutions and infrastructure to set up your dream company and run it profitably.
Which are the Cheapest Freezones in the UAE?
Let’s have a look at the relatively cheap Freezones in the UAE that offer similar infrastructure and business benefits as of the Freezones in Dubai.
International Freezone Authority (IFZA)
The International Freezone Authority (IFZA), Fujairah is one of the most cost-effective business centers in the UAE. IFZA offers a host of profitable solutions for setting up your first business in the UAE.
IFZA offers its investors a wide range of modern office solutions that match international standards. IFZA has a warehouse facility that is built on the highest international logistics standards. IFZA also offers flexi-desk and flexible rental solutions for the investors to keep their operational cost at the minimum.
Benefits for the Investors
- Fast and easy incorporation and company management
- A wide and comprehensive range of business activities (Consultancy, Services, Trading, etc.)
- 100% Foreign Ownership
- Ability to Setup a Limited Liability company and get the LLC Suffix after the company name
- 100% exemption from corporate and income tax
- No foreign currency restrictions
- No physical office requirement
- No share capital requirement
- Ability to incorporate holding companies
Type of licenses available in IFZA
- Consultancy License – Ideal for professional services like management consultants, HR Consultants, etc.
- Service License- Suited for production, transformation, and distribution of service companies
- Trading License- Best fit for a company that trade specific goods
- General Trading license – For companies that trade a wide range of items
- Industrial License- Best fit for companies involved in importing raw materials, production, manufacturing, package, and exports, etc.
- Holding license – Enables the holding of standalone assets and/or shares of other company
General Trading License – (1 Visa Package) – 17,500 AED Yearly (The package amount might slightly vary in actuals)
To know more on the IFZA business setup packages, click here:IFZA
Ras Al Khaimah Economic Freezone (RAKEZ)
RAKEZ is a cost-effective business hub with customizable solutions for business establishments to set up your dream company. RAKEZ offers Cost-effective business set-up packages, modern facilities, and first-class services. It has the state of the art infrastructure and hi-tech facilities for industrial growth and development.
RAKEZ offers an easy and fast business setup, customer friendly environment for the investors. There are more than 14000 companies from 100+ countries registered in RAKEZ. RAKEZ has 5 Freezone parks that are tailor-made for investor requirements. RAKEZ consists of a business park, industrial parks (3), and an academic zone.
RAKEZ has provision for Freezone and Non-Freezone company formation. It offers a wide range of business and industrial facilities. The easy access to global markets through the seaports & airports of the UAE is making RAKEZ a preferred destination for investors.
Commercial Licence – Allowed to conduct 5 similar activities from the chosen category – 14,800 AED Yearly (The package amount might slightly vary in actuals)
Check out the Company Registration cost for RAKEZ here.
Umm Al Quwain Free Trade Zone (UAQ FTZ)
The Umm Al Quwain Free Trade Zone (UAQ FTZ) is a perfect choice for start-ups, SMEs and business groups for setting up the offices. Its proximity to Dubai, access to the international ports, and top-class infrastructure are making it an investor’s favorite.
The Umm Al Quwain Free Trade Zone has been operating as an autonomous Freezone since its inception in 2014. Due to its low-cost business setup and low running costs, Umm al Quwain Freezone is expected to have a rapid adoption in the coming years.
Types of Licenses issued by the Um Al Quwain Free Trade Zone
- Freelance permits
- General Trading
Commercial License (2 Visa Package) – 20,500 AED Yearly [The package amount will vary in actuals]
Read more on the Umm Al Quwain Freezone here.
Ajman Media City Freezone
Ajman Media City is one of the fastest growing Freezone in the UAE. It is one of the most competitive business centers with cost-effective business setup services and world-class infrastructure.
It is considered a top-notch hub for media and entertainment companies to set up the office. It offers a cost-effective platform to media agencies and creative people who are looking for a profitable business establishment.
Types of company formations in the Ajman Media City Freezone
- Freezone Establishment (FZE)
- Freezone Company (FZCO)
- Branch of a Foreign Company
- A subsidiary of a Foreign Company
- Branch of a UAE Company
Benefits of the Ajman media City Freezone
- 100% Foreign Ownership
- 100% Repatriation of Capital and Profits
- No Corporate or Income Tax
- Multiple Business Activities in One Licence
- Quick and Fast License Issue (2 days)
- Quick and Simple Registration Process
Commercial License (1 Visa Package) – 11,952 AED Yearly [The package amount will vary in actuals]
Click here to know more on Ajman Media City Freezone.
The most important components in the business setup are deciding your business activity, business license types and the perfect location to start your dream company. UAE is the perfect place to establish your business and gain global access easily.
The ease of doing business, government support for entrepreneurs, world-class infrastructure, secure banking facilities, strategic location, proximity to the airport and seaports, global connectively, etc., is making UAE a strategic location for business establishments. Hence, achieving business excellence and growing your brand into a global one is assured by being in the UAE.
For all your queries on low-cost business setup options in the UAE for your new business, have a quick chat with us right away!