Free Zone Licenses
A free zone, often known as a free trade zone, is an economic area with certain rules and legislation that are exclusively relevant to companies operating within. Companies that conduct business in Dubai’s free zones are subject to particular ownership and tax regulations in order to transact goods and/or services inside the nation.
A company’s specific business operations determine the type of free zone license in Dubai that it will be granted. The regulatory organization is responsible for granting permits and overseeing commercial operations within a free zone is known as the “free zone authority”. The same laws that apply to firms on the UAE mainland do not apply to those established in the Dubai Free Zone.
Benefits from a Dubai free zone license include access to the MENA market, efficient banking services, business-friendly legislation, and first-rate infrastructure.
All free zones share the same fundamental characteristics, however, they cater to distinct niche markets and have quite varying establishment fees for businesses, documentation requirements, etc. There’s just nowhere better for entrepreneurs looking to expand their businesses internationally.
Perks of having a free zone license in Dubai:
- Certain entities are exempt from import or export duties within free zones.
- Income tax and personal tax exemptions exist.
- your company’s whole foreign ownership
- Complete capital and profit return incentives are available to investors.
- Businesses in free zones are perfect for foreign investors who wish to own a 100% stake in the business.
- Simple hiring procedures for employees
- Foreign exchange is not restricted in free zones.
- Perfect for startups and small to medium-sized businesses.
- Outstanding advantages in terms of transportation
Types of Licenses in Dubai Free Zone
- Commercial license: Organizations that engage in trade activities such as import/export must apply for a commercial license.
- Industrial License: An industrial license is granted to a company that manufactures, packs, etc. A few instances of industrial businesses functioning within a free zone are those manufacturing carpets, mineral water bottles, uniforms, etc.
- General trading license: An investor may apply for a Dubai free zone license if their primary line of business is the import and export of products. This license is known as a general trading license in Dubai. Moreover, operations connected to distribution and storage are permitted under this license.
- Professional license: For service providers, artists, professionals, etc., a professional license is necessary. Those who provide their services as a talent can become licensed professionals. Any person or company using intellectual capacities must have a professional license in order to function in Dubai and the other United Arab Emirates.
Dubai Free Zone License Cost
The price of a free zone license in Dubai varies according to your requirements about the quantity of services you require, the size of your establishment, the number of staff members, and other factors. Establishing a business in one of the UAE Free Zones, such as Meydan Free Zone, is one of the most economical ways to accomplish so in Dubai, especially if you’re looking for the lowest free zone license in the area.
