UAE has now become a global business hub for international entrepreneurs and investors. Of course, it is because of the streamlined process. For setting up your business in. Dubai or anywhere in the UAE. Usually, there are three options available for a company setup in the UAE. Mainland, Offshore, or free zone. When it comes to Dubai free zones, it offers enormous benefits to businesses. Free zones in Dubai are the most desired zones for business setup in Dubai.
In this blog, let’s discuss from the beginning what exactly are free zones. You can also read more on how many free zones are there in the UAE, which are the best free zones in Dubai, and how to set up a business in the Dubai Free Zone.
Let’s get started.
What is a free zone in Dubai?
The most common question asked is, what is a free zone in Dubai or in the UAE? The term free zones or free trade zones solely belongs to the economic zones or areas in the UAE. These are regulated by their respective free zone authorities.
UAE free zones are gaining so much popularity due to their enormous benefits. It offers easy licensing options. Free zones attract entrepreneurs to move to Dubai and start their businesses. Free Zones offers 100% ownership. These are the number one choice for low-cost business setups in Dubai.
How many free zones in Dubai?
Dubai has over 30 free zones out of 40+ free zones in the UAE. Dubai Free Zones offers full ownership to business owners and is well known for its strategic location. The licensing process is straightforward and streamlined. Free Zones in Dubai save you time, energy, and a significant amount of money.
Dubai free zones: List
Dubai offers approximately 30 free zones to start your business here in the UAE. Here’s the list of free zones in Dubai:
- MEYDAN Free Zones
- Dubai Multi Commodities Centre (DMCC)
- Jebel Ali Free Zone (JAFZA)
- Dubai Airport Free Zone (DAFZA)
- IFZA Freezone
- DWTC Freezone
- Dubai Design District
- Dubai Internet City (DIC)
- Dubai Media City (DMC)
- Dubai International Financial Centre (DIFC)
- Dubai Healthcare City (DHCC)
- Dubai South
- Dubai Knowledge Park (DKP)
- Dubai Biotechnology and Research Park (DuBiotech)
- Dubai Maritime City (DMC)
- Dubai Cars and Automotive Zone (DUCAMZ)
- Dubai Production City (formerly International Media Production Zone)
- Dubai Silicon Oasis
- Dubai Studio City
- Dubai Gold and Diamond Park
- Dubai Cars and Automotive Zone (DUCAMZ)
- Dubai Outsource City
- Dubai International Academic City
- Dubai Science Park (formerly DuBiotech)
- Dubai Techno Park (now part of Dubai Industrial Park)
- Dubai Wholesale City
- Jumeirah Lakes Towers Free Zone (part of DMCC)
- Dubai Sports City
- Dubai Logistics City
- Dubai Flower Centre
What are the best free zones for business setup in Dubai?
There are a lot of options available when choosing the right free zone for your business setup in Dubai. It usually depends on the type of business activities you want to conduct in Dubai. However, there are free zones that are considered the best ones for start-ups.
Let’s check out:
- MEYDAN Free Zone
- DWTC Free Zone
- IFZA Free Zone
- Jebel Ali Free Zone (JAFZA)
MEYDAN Free Zone
Meydan Free Zone is one of the desired free zones for a low-cost business setup in Dubai. It offers more than 2,500 business activities.
You can get a business license with multiple business activities. You can get it within a few working days.
DWTC Free Zone
DWTC Free Zone abbreviated as Dubai World Trade Centre Free Zone. It is famous for its strategic location. With its countless advantages for businesses, it’s an ideal choice for startups. It offers a variety of office spaces. The different types include conference halls, exhibition halls, meeting rooms, and outdoor areas. You can choose a commercial business license, e-commerce license, or trading license for setting up a business in the DWTC Free Zone.
IFZA Free Zone
IFZA is one of the top-tier Free Zone Communities in Dubai. It offers world-class infrastructure, modern amenities, and investor-friendly policies. 100% ownership and warehouse facilities make it the perfect choice for international entrepreneurs.
Entrepreneurs choose IFZA Free Zone to establish their business setup in Dubai.
Jebel Ali Free Zone (JAFZA)
Jebel Ali Free Zone is the first free zone established in the UAE. It has now become the best free trade zone in the UAE. JAFZA has established more than 9,500 companies in Dubai. JAFZA offers offshore company formation as well. You can avail warehouse facilities and run your business with very low investment.
How to start a business in Dubai freezones?
Starting your business can vary from free zone to free zone in Dubai. Let’s discuss the general and simplified process of business setup in free zones.
- Choose the business activities that you will conduct in your business in Dubai.
- Select the right free zone according to your business activities, and type of license.
- Register your business trade name to the relevant authority and make sure it is unique.
- Required documents include an original passport, white background pictures, and a visa copy.
- After document submission, get the initial approval from the relevant free zone authority.
- After getting initial approvals, now you can sign the Memorandum of Association. Submit it and pay the license fees.
- After paying the fees, you will receive your business license.
- Get a business bank account in Dubai after obtaining the license in any of the free zones.
- Get a residence visa for 2 years in Dubai.
Benefits of Dubai free zones
Free zones in Dubai offers so many benefits to attract foreign entrepreneurs. The benefits list of free zone companies mentioned below.
- 100% full foreign ownership
- 100% repatriation of capital and profits
- Streamlined business set-up process
- Securing business bank account in UAE
- Multiple business activities
- Low corporate tax rates
- 100% exemption from import and export customs duties
- Low-cost business setup options
- Independent laws and regulations set by the relevant authorities
- International market access
Types of trade license in Dubai Freezones
Dubai offers different types of business trade licenses. You need to choose the suitable ones according to business activities. Here are the common ones.
E-Commerce license
As the name suggests, this license is for online trading. You can operate e-commerce business activities in Dubai. It is only for online sales of goods.
Commercial license
The commercial license permits trading business activities. It includes such as wholesale, import export, or retail trade.
Industrial license
An industrial license allows the production of goods and products. It includes the manufacturing industries such as chemicals, or food & beverages products.
Professional license
A professional license is required when you are offering professional services. The professional services example is such as consulting services.
How much Dubai free zone license cost?
Dubai free zone license cost can vary. It depends on the specific free zone chosen, with cost starting from 25,000 AED. Dubai attracts foreign investors. It offers cost-effective business setup options especially in the free zones.
Conclusion
In conclusion, free zones in Dubai play a huge role in UAE’s economic development. Emirates Business Setup is a business consultancy in Dubai.
It offers business setup services in the UAE. Free trade zones in Dubai offer tax incentives and 100% ownership. Contact our business consultants in Dubai to know more!
Frequently Asked Questions
1. Can companies in Dubai Free Zones conduct business within the UAE?
Companies in free zones can conduct business within the UAE. But they are primarily geared towards conducting international trade.
2. Which industries are popular in Dubai?
Freezones in Dubai attracts companies from diverse sectors. The common sectors are financial sectors, logistics, technology, and more.
3. How can I set up a business in Dubai?
You can start a business setup at a very low cost. It is advised to talk to our business consultants in Dubai to start your business setup process. We handle everything from the attestation of your documents to submitting them to the relevant authorities. We ensure you get your business-free zone license in Dubai on time.
4. Do I need a local partner to set up a business in a free zone?
In free zones foreign investors are allowed 100% ownership of their businesses. You usually do not need a local partner to set up a business in any free zone.
