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Things to Take Care of While Setting Up Business in the Dubai Free Zone: The Dubai Free Zones or Free Trade Zones exist to bring in more international business to the city as it promised a full hundred percent ownership to foreign companies in Dubai along with other incentives such as being tax-free and having customs duty benefits. Operations of the businesses in the free zones do not come under the jurisdiction of the commercial companies law and UAE. Each free zone has rules that must be adhered to that are set up by the concerned free zone. Some of the popular Free Zones are Jebel Ali Free Zone (JAFZA), Dubai Multi Commodity Centre (DMCC), Dubai World Central (DWC), Dubai Airport Free Zone (DAFZA) amongst many others.
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You can set up two types of establishments Free Zone Establishment (FZE) or a Free Zone Company (FZ Co) /LLC (FZ LLC). The main difference between the two is that when starting an FZE, only one shareholder can be registered, whereas, with an FZ Co, two or more shareholders can be registered.
The benefits of starting a business in the free zone include full ownership and complete repatriation of capital and profits. All corporate and personal income tax along with import/export duties are exempted. If duty calls, the companies can function 24 hours a day. The business owners can own properties and also wind up business at their own call. The recruitment of staff, acquiring work permits and visas and relatively easy. And during the time for renewal, the fee is moderate and affordable!
The only limitation that remains is that once set up in the free zone, you cannot conduct business activities in the Dubai mainland.
Originally posted 2021-09-29 04:07:07.