Creating a business in the UAE is not an entirely new story. A lot of people already know that the UAE is the union, consisting of seven emirates; the most popular ones are Abu Dhabi, Ajman, and Dubai.
Creating a business in the UAE is not an entirely new story. A lot of people already know that the UAE is the union, consisting of seven emirates; the most popular ones are Abu Dhabi, Ajman, and Dubai. Every emirate has its own policy, laws, and regulations. There are also free economic and free trade zones. You’ve definitely heard about forming new companies in Dubai as it has around 20 free trade zones, divided by types of activities, e.g. IT companies, trading companies, law companies, etc.
Why a Free Zone?
Setting up a company in the UAE has a lot of advantages, but establishing a business in a free trade zone is believed to be the most beneficial option. For example, an Ajman free zone license will give you:
- a residence visa for you to live legally in the country (usually up to 3 years and then you need to renew it);
- a tax certificate, which also offers a tax exemption opportunity for countries of residence with double taxation systems;
- access to amazing infrastructure to use in operations of the company and to operate within the country;
no annual audits whatsoever, etc.
A Much-Needed Piece of Advice
However, to make the most of the situation, you still need to learn and handle some important details. For instance, there are three types of licenses you can get, depending on the main activity of your company – industrial, commercial and service licenses. Also, there are different conditions for foreign investors in some of the emirates, especially on the mainland, you need to study for creating a successful business.
That’s why it’s usually advised to search help in local consulting companies that can assist you in setting up a trading or a professional company in just one day. They supervise all steps of the process, starting from choosing the right location and getting a license.