The seven emirates that make up the United Arab Emirates are Dubai, Abu Dhabi, Sharjah, Fujairah, Ajman, Umm Al Quwain, and Ras Al Khaimah, each of which has its own free zone. Let us give you more details about the two most popular Emirates – Dubai & Sharjah
Dubai Freezones
International Free Zone Authority (IFZA) has now become a global centre for new business setup in the UAE, offering highly competitive pricing and a wide range of business activities. The most affordable general trading company license in the UAE is frequently obtained through an IFZA firm setup. The IFZA also grants other licenses, including consultation, service, commercial trade, industrial, and holding permits. Quick company registration is made possible by IFZA, and permits are given in 2-3 working days.
Benefits of an IFZA license:
- Affordable options for incorporating a business
- Quick and simple company formation and management
- Many activities, such as consulting, service, and trading
- Remote incorporation is feasible.
- Corporations are only partially liable.
- 100% tax-free status for businesses and individuals
- There is no need for paid-up capital for shares.
- Possibility of forming holding companies
- various choices for offices with flexible rental terms
- Many options for storing facilities
Dubai Multi Commodities Centre (DMCC), which was founded in 2002 and is housed in Jumeirah Lake Towers (JLT), is the ideal free zone for trade in commodities, financial services, and a wide range of specialized industries, including agriculture, energy, diamonds, gold, and base metals. Seven years in a row, it has been named "World Free Zone of the Year," and it brings together more than 20,000 companies from all industries and sectors in the most interconnected Free Zone on earth.
Benefits of a DMCC license:
- ideal for precious metal, gem, and diamond trade
- world-famous safe diamond vault for storing, DDE Vault
- X visa for service activity with flexi-desk up
- various types and locations of offices
- Well situated in the center of Dubai and close to transportation options
- 100% tax-free status for businesses and individuals
- a wide range of commercial activities
- No limitations on the use of foreign money
- 100% capital repatriation and business ownership
- Internet service portal
Founded in 1996, Dubai Airport Free Zone (DAFZA) is Dubai's premium free zone and one of the world's greatest free zone attractions. Around 1,600 global businesses from a variety of sectors, including IT and telecommunications, aviation, freight and logistics, pharmaceuticals, engineering, food and beverage, jewelry, and cosmetics, are currently based in DAFZA. In this prominent free zone, some of the most well-known companies in the world have established their Middle Eastern headquarters, including Rolls Royce, Roche, Boeing, and Chanel.
Benefits of a DAFZA license:
- 100% exemption from business, personal, import, and export taxes
- Completely foreign ownership
- 100% of the capital and profits are returned
- No limitations on currency
The largest customs bonded zone in the Middle East and the flagship free zone of DP World is Jebel Ali Free Zone (JAFZA). Its location in the heart of an unmatched ecosystem, close to Jebel Ali Port, Al Maktoum International Airport, and Expo 2020 Dubai, has made it an ideal hub for international trade and a well-integrated provider of company setup solutions, drawing in 23.9% of Dubai's foreign direct investments.
Benefits of a JAFZA license include all the benefits of a free zone license as well as the opportunity to sell to the UAE public.
- With no requirement for a gate entry, it is conveniently situated next to the Jebel Ali Free Zone.
- Several dealers all beneath one roof
- 50 maximum stockholders are allowed.
The premier financial center for the Middle East, Africa, and South Asia is Dubai International Financial Center (DIFC) (MEASA). Dubai Financial Services Authority (DFSA)- DIFC continues to be one of Dubai's most sought-after business and lifestyle destinations with a vision to drive the future of finance thanks to its world-renowned retail and dining venues, a dynamic art and culture scene, residential apartments, hotels, and public spaces.
- Legislative framework encourages international activity
- ideally situated to take advantage of emerging market possibilities
- 100% corporation and income tax exemption for the largest fund domicile in the area
- No limitations on the return of capital
- Independent regulatory environment of the highest caliber
Meydan Free Zone (MFZ), which opened in February 2009 and is housed in one of Dubai's most prestigious addresses, provides a quick and easy way to launch a business. By holding international horse racing events, Meydan Stadium, where Meydan Free Zone is headquartered, hopes to foster ties between the world and the UAE. In addition, the Meydan project includes a variety of commercial developments, sports, hotel, entertainment, and amusement facilities, a number of cutting-edge business parks, hospitals, schools, residential villa communities, office towers with opulent waterfront buildings, and shopping areas.
Advantages of MFZ license:
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- Completely foreign ownership
- Unrestricted capital repatriation
- 100% exemptions from corporate and personal taxes 100% benefits for profits and financial assets to be repatriated
- More than 1500 business license transactions
- easy to open a bank account
Sharjah Freezones
One of the newest free zones with its headquarters in Sharjah is the Sharjah Publishing City Free Zone (SPC). Publishing and printing are SPC's primary licensing activities, but it also grants licenses for a wide range of other businesses, such as general trading, consulting, e-commerce, information technology, etc. It offers one of the fastest incorporation times, lovely offices, and a prime location.
Advantages of SPC license:
- No personal or corporate income tax
- Completely foreign ownership
- capital with no paid-up shares
- Simple process for opening a corporate bank account Possibility of a 10-year trading license
- Activity involving more than 1,500 business licenses
- flexibility in the allocation of work visas
- Mix up to 5 distinct activities under a single license.
Sharjah Media City (SHAMS), a relatively new free zone aimed towards media startups, was established in early 2017. Sharjah is the third-largest emirate and borders Dubai, providing businesses with the needed proximity while also accommodating setups that are cost-conscious, making it a sought-after location. Small startups and multinational corporations alike are served by SHAMS.
SHAMS licensing benefits include:
- One business license can be used for a variety of company operations.
- Within days, a company issues documentation
- Completely foreign ownership
- Incorporation does not need physical presence
- Corporations are only partially liable.
- the power to choose corporate management and directors for your business
- 100% of the capital and profits are returned
- No personal or corporate income tax
- Up to six visas may be distributed using a shared desk facility.
The Sharjah Research Technology and Innovation Park Free Zone (SRTIP), which was established in 2016, intends to create and manage an innovative ecosystem that supports enterprise activities, research and development, and partnerships between business, government, and academia. Water management, renewable energy, environmental technology, transport & logistics, digitalization, and smart manufacturing are the six research topics that SRTIP is most interested in.
Benefits of an SRTIP license:
- Completely foreign ownership
- affordable space licensing and leasing
- Taxes on business and personal income are completely free.
- Unrestricted access to the Innovation Lounge at SRTI Park Quickly established business
- access to business networking opportunities
- access to researchers and students at University City
- access to national, international, and local markets
- a significant number of experts and skill in the field
