Freezone Company Formation
UAEâs best bet for the budding entrepreneurs with limited cost set up is the Freezone company formation. With more than 40 Freezones functioning across the Country, each freezone is aimed at providing or specializing in few commercial activities designated to its zone. The Free Zone Authority (FZA) is completely accountable for issuance of licenses to the companies formed under its authority and hence the companies formed under these Freezone authority enjoys a 100% ownership.
Civil Company Formation
Advantages of Formation of Freezone company in UAE
There are lot of benefits for an entrepreneur especially for a small setup company, wherein the total cost of a setup is comparatively low. Following are the advantages
- An array of activities to choose from
- 100% Ownership of Business
- Low setup costs and tax free benefits
- Serviced desks and offices for Startups and small Entrepreneurs
- Guidance from authorities at its best
- Faster process in getting license
- No physical presence of shareholders required for incorporation of company
- Residency Visas can be obtained
- Exemption on export and import tax duties
Steps to setup your business in UAE Freezone
Itâs an easier and simpler process to setup a freezone company in UAE. With right guidance one can obtain the license in less than four working days.
- Need to decide on company name and submit for approval to concerned authorities
- Choose the activities based on your business
- According to your business legal structure, submit the documentations
- On approval, do the payment and get your license
Points to remember â Freezone company setup
Before venturing into one of the many freezones available for your license, one has to keep in mind the following points for better judgement.
- To select the right freezone depending on your activity
- The costs of setting up a free zone company varies from one freezone to another.
- Location of the Freezone, whether the vicinity to your potential clients is met
- Credibility grants of banks towards the freezone one is opting for
- Carry out Business within the Freezone or internationally
Though the above processes seem to look very simple and easy, the liaison with the government entities and documentation procedures are much easy with proper guidance with the right consultancy. FirstStep provides you with the right assistance for you to enjoy your first step in business in absolutely hassle freeway.