8 Benefits of starting a freezone company
April 07, 2018
Everybody’s main goal is to achieve a best career or profession in life. Some of them prefer employments jobs and some need to begin their business to accomplish their own particular objectives. So, if you are planning to start your own business then setting up a business in Dubai Freezone is the perfect business choices.
Dubai Freezones explain your situation about utilizing the chance of business in Dubai’s company with an ownership that is 100%.
What actually is a Freezone
Free Zones are geographic regions inside a nation where products, administrations and items might be exchanged without interference of strict customs policy. Most of the companies in Freezones are simply taxed or even completely discharged to support economic movement.
Free Zones in the UAE were proposed as universal business center points for organizations leading business outside the UAE, since they are not authorized to work inside. A large portion of the free zone companies were engaged with import and re-trade, now most companies lead business inside the UAE and GCC through nearby wholesalers.
The Jebel Ali freezone the main Free zone in the nation has made the standard for controls and motivating forces. Its fast development has additionally given an effective financial motivation to alternate Emirates.
Benefits of company formation in Dubai
There are a lot of benefits of business setup in Dubai Freezone like pay tax exempt, no corporate tax and a full ownership of foreign company. Following are the benefits:
- Full foreign ownership
- Sleeping partner or local sponsor not needed for business setup
- Ownership of local bank account
- Protection of activities
- International business commitment
- No corporate duty for a long time and renewable for an extra 50 years
- Simple enrollment methods, permits for work and Visas
- Wrap up your business on your own responsibility.
The best advantage of starting your business in a freezone is that you have prepared access to the information, ability and teamwork chances of other associated tasks in the zone.
Dubai Freezone Visa Benefits
Once your business is running smoothly and as the entrepreneur you have your own visa set up then it’s quite simple to get further residence visa and for your family as well. You should be a current UAE occupant to be a sponsor. Also your earning must be at least the minimum salary required by every emirate.
The validity of visa is maximum 1 to 3 years. Although the process is clear comprised of four phases, permit for entry, status adjustment, a medical test, after that visa stamping and Emirate ID registration. It’s better to take guidance from an expert before all these process so that you can meet all the entry criteria easily.
Free Trade Zones (FTZs) are unique financial zones with the target of offering concessions on tax and advantages to expatriate investors on custom duties.