It is quite confusing to choose the right free zone for your business, isn’t it? No worries, we can help you choose one. In this blog post, we have detailed how to choose the right free zone in the UAE.
Here is a breakdown of the details. Read On!
What attracts investors to FTZ?
100% foreign ownership, 0% corporate and personal tax, 100% repatriation of capital and profits, no exchange control, no restriction on investment in any sector, open investment climate, low costs of living and labour as well as easy access to trading partners in the Middle East, Africa, and Asia and low-cost business set up in UAE attracts investors to free trade zones.
Step 1: Look for an activity -
When it comes to activity, each free zone has its own specific requirements. Certain free zones allow multiple activities under a single license whereas the others do not. In general the more the number of activities, the more the cost of the license is and vice versa. So we recommend you look for a cheap free zone license in UAE that permits multiple activities under the same license. UAQ free trade zone is one such zone offering multiple activities under a single trade license.
Step 2: Look for facilities -
One of the most important aspects to be considered while looking for a free trade zone is facilities. Look for Hi-tech facilities including office, warehouse, and land availability.
Step 3: Define your preferred Emirate -
When it comes to business locations, your preference matters a lot! All 7 Emirates consists of free zones. So you can choose the one that interests you. UAQ free zones have cheaper fees compared to other free zones.
Step 4: Number of visas -
All entrepreneurs irrespective of their business need a resident visa to reside and operate their business legally in the UAE. The availability of visas depends on the size and type of office space. The free zone visa cost in UAE varies from one free zone to another. The free zones in the Northern Emirates tend to offer more visas compared to free zones in Dubai.
Step 5: Draft your budget -
Always stick to your budget. Look for the cost of the license, registration, establishment card, office rental, residence visa, and make sure it fits your pocket. Also, compare UAE free zone business setup costs with Dubai free zones to find the best deal.
Free Trade Zones are ideal for Micro Businesses, SME’s and Conglomerates to do business in a safe and secure free trade zone environment. So don’t wait anymore- keep the above tips in mind and choose the right free zone for your business in the UAE.