If you have been recently looking up articles on business setup in Dubai, you might have learnt how the biggest decision you need to make is the zone you want to set your business in. there are namely three different zones you can find in Dubai, and other Emirates, Free Zone, Mainland and Offshore. Here you will learn more about why you should stick to building your companies in Free Zones. In addition to that, you will also find the names of a few main Free Zones and the perks each offers.
Free Zone Company
Free zones, also commonly known as free trade zones, are areas in Dubai which are specially designed to attract foreign investors. These areas were built with only this motive in mind, in turn, bettering the economic infrastructure of the country. To ensure that foreign investors think of Dubai for setting up their company, Free Zones offer a number of incentives.
These entities are not governed by the UAE labour law. All companies set up here have their own rules and regulations and do not really need a local sponsor to establish their company. The companies here can be owned totally by any GCC country or non-Emirati citizens. Apart from the common benefits like 100% repatriation of profits, 0% corporate tax and 100% ownership, there are many novel perks of setting your business in the top Free Zones.
Names of Top Free Zones in Dubai
One quick search on the internet will give you a list of the many Free Zones in Dubai. While all of them offer the same basic advantages, there are some particular to a free zone, making them a unique investment opportunity. All such variations make each free zone better suited to a particular business, as per the nature of its transactions and trade.
- Dubai Internet City
This Free Zone was established in 1999 by the Dubai Government with orders from Sheikh Mohammad bin Rashid Al Maktoum. This is considered to be one of the bigger communication and information technology hubs in the Middle East. It is a great place for setting up businesses that require technical innovation.
- Dubai Silicon Oasis
This Free Zone was established a bit later than the former mentioned one, in 2005. The main objective of this Free Zone was to enhance and promote industries based on modern technology. Here you will find the Dubai Technology Entrepreneurship Centre and Dubai Digital Park, which are the largest centres for entrepreneurship in the Middle East. This Free zone is home to as many as 900 start-ups from all around the world.
- Dubai World Central
This free zone is a part of the Al Maktoum Airport. Located in the Business Park of Dubai South is witnessing a great turnout, in spite of its newer timeline. This is mainly because of the several facilities and privileges offered here. Such privileges are more noticeable when it comes to renting premises, licensing procedures and other commercial activities.
Selecting one of the many Free Zones mentioned here can help you make the most of your business.