How to Choose the Best Free Zone in UAE

Free Zones in the UAE have their own body of governance that has special tax, customs and import regime, and are governed by their own framework of regulations. There are multiple free zones throughout the country. All these free zones have different procedures, prices and requirements that are constantly changing. They are in competition with each other and as a result, they introduce new products that lead to the change in market conditions. Therefore, it is important to make sure to ask agents that will help you set up to inform you of the latest news on what particular free zones are good for you. Blackswan BSS will help in Business Setup in Dubai Freezone.

There are several things to keep in mind when you’re choosing a free zone to conduct your business activities in:

Type of business activity

Every free zone different sets of specific activities that it allows to be performed within the jurisdiction of the area. There are also regulations in what activities are permitted under a specific business license.

Facilities required

Every business required different kinds of facilities. IF yours is a business that required many meetings, one should opt for using an office facility. One should also keep in mind that setting up a business in a free zone means you cannot conduct it in the mainland.

Location

Ideally, the location should be in close proximity to transportation services and ease of access to your resources. This is a default regardless of where the business set up.

Capital Requirement

Each free zone has a different setup cost and a deposit fee. Depending on your budget and credit availability, you should properly research what suits you best and go for it.

License Requirements

Based on the activities you want your business to conduct, there are specific licenses that you need to acquire. Typically, there are three types of licenses – trading license, professional license and service license. Each fee zone might also require you to acquire an additional license.

Audit report requirement

Some free zones such as the DMCC require a financial audit report at the end of the fiscal year. Those zones that present an audit report are eligible to apply for loans and attract foreign investors whereas others are not. Depending on that need for your business, you can decide.

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Originally posted 2021-09-29 09:05:16.