Establishing a business in a free trade zone in Dubai can be a very productive undertaking that offers a wide variety of business openings and systems in the emirate. Free Zone aims to improve the universal organization by providing 100% exclusion. A free zone is a geographical area in a country where goods, administrations and goods are exchanged without resistance to strict customary rules. A fact of free zone organizations in the United Arab Emirates is that World Business in Dubai Center Points for organizations doing business outside the United Arab Emirates are not allowed to work in the United Arab Emirates.
The United Arab Emirates is a place known for its rich organization and trade exchanges and has many international trade zones that make it easy for speculation of the unknown to flourish. Free zone areas are located in Dubai, Ajman, Abu Dhabi, Sharjah, Fujairah, Ajman Media City, Ras Al Khaimah and Umm Al Quwain. Depending on the branch or trade, each free zone works independently according to these free zone rules and guidelines. The advantages of having a business in the Dubai Free Zone are as follows:
The main advantages of companies operating in the Dubai Free Zone are tax benefits such as:
- The wide network of double taxation agreements Access
- Value-added taxes at a rate of 5% which is one of the lowest rates in the world
- Availability of free profit repatriation
Simple Registration Procedure
Setting up a business in the Dubai Free Zone is very easy, it usually takes 3 weeks to join. Now that you have selected your preferred free zone, you have to follow these steps:
- Save the organization name.
- Lease office premises.
- Organize the deeds of the foundation and the articles of affiliation.
- Get an opened corporate bank account, and infuse the base settled up share money to get the bank statement affirmation.
- Apportion a spending plan for the interpretation and legally approbation of expenses of due constancy.
- Secure the fitting business license, allowed by the significant Free Zone Authority.
100% Percent Ownership
This is a winning proposal for a former stork who wants to set up an organization in the United Arab Emirates. In a limited liability company, the financial specialist receives only 49% of the shares, while doing business in the free zone in the UAE has no such limitation. Foreign financial professionals become 100% owned by companies operating in the free zone.
The Infrastructure of Free Zone
The free zone has an undeniable base with a productive framework for correspondence and provides a useful business platform for various organizations to meet and exceed expectations in their respective fields.
Foreign businesses in the UAE are booming and speculators are flocking to the region to start businesses. If you are planning to start your business in the free zone, you will get support from all the reliable business consultants in Dubai who can easily help you with all the conventions for building an organization!
Choose a Business Activity
Select the type of business activity you want to use in your company. Dubai allows different types of business structures, all of which are similar to the business structures for American or British companies. For example, you can choose a general partnership or a limited partnership, which is a form of a limited partnership. You also have the option of public or private joint ventures and stock companies. Finally, you can choose a limited company or sole proprietorship.
Ownership of Company
Determine the exact number of foreign and local properties needed to structure your business. For private limited companies, as well as for all partnership options, Dubai requires that at least 51 percent of the business property is local or owned by a UAE citizen, while you cannot own more than 49 percent of any type of business. . However, you can have a full 100 percent sole proprietorship in Dubai.
Apply for a Business License
Apply for the required license to start a real estate company in Dubai. You need a commercial license and possibly a professional license to run a real estate business in Dubai. Contact the Department of Economic Development to find out which license you need to run your real estate business in Dubai. For example, a real estate or mortgage investment brokerage firm requires only a commercial license; a company that deals in real estate advice or mortgages or real estate appraisals also requires a professional license. Here you can quickly look up the license terms.
Choose a Location
Choose an acceptable location for your real estate business in Dubai. With a limited company or partnership or joint venture, you have more flexibility, while a sole proprietorship must be based in one of Dubai’s free trade zones to own 100 percent of the property.
Investors looking to start a real estate company in Dubai have a considerable amount of choice and flexibility in starting and running their business. Starting a real estate business in Dubai is primarily about following the rules of incorporation and making sure the business is properly licensed.