- Only able to trade within the specified free zone and to operate worldwide
- Residence visas are issued
- Office space is not required within the free zone.
- Able to open UAE bank accounts and accounts worldwide
- Has the option of becoming a member of the Chamber of Commerce through the relevant office in the specific Free Zone
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- With the establishment of the Jebel Ali Free Zone Authority (JAFZA) in 1985, the UAE became the first nation in the Middle East to implement the free zone concept. The first free zone in the world to receive ISO certification within 10 years, despite being a modest company serving only a few companies.
- The JAFZA success story served as the model for several more free zones across the nation, each of which offered strategic advantages and commercial advantages. Many thousands of people and institutions who have established new businesses in the UAE successfully call these free zones their home.
- Currently, the nation has about 50 free zones that serve specialized industries like, but are not limited winning strategy
- For instance, the Sharjah Airport International Free Zone (SAIF) authorities established a 24-hour licensing service that enables new entrants to establish a firm in the UAE relatively instantaneously when they realized that the idea of protracted, bureaucratic procedures was intimidating to potential investors. The Hamriyah Free Zone Authority (HFZA) in Sharjah offers enormous industrial and commercial plots that are several thousand square feet in size as well as infrastructure that is specifically built to make import and re-export easier.
* Improved businessA free zone's fundamental tenet is that it greatly facilitates business transactions. It may sound like a drawn-out and challenging process to open a new business in the UAE or obtain a trade license, but it is not. Everything is set up to draw in foreign investors and aid them in expanding their businesses, including the simplification of paperwork and the minimization of effort.
There is a large range of free zones available, all with 100% foreign ownership and no need for local sponsors or service providers. Business owners can also enjoy 100% repatriation of revenues and profits, and 100% transfer of funds.
A time-limited waiver of all corporation taxes, as well as import and export taxes, and an exemption from all personal taxes are more significant.
Many of the major free zones, which sit alongside the nation's mainland economic climate, which has also recently undergone modernization, have its own laws and courts based on both English and common law.
* Swiftness and easeA free zone is the path to success for foreigners and resident expatriates interested in establishing a business in the UAE (either a tiny office or full-scale activities).
Setting up a business in a UAE free zone is simpler, quicker, and easier and documentation is streamlined. The majority of free zone authorities also provide assistance with ancillary services like labor, immigration, legal, and medical procedures.
From individual freelance permits to international branch office licenses, from shared desk space on a 1-year contract to industrial warehouse leasing for up to 25 years, the options for space, style, term, and budget are virtually limitless.