Dubai is famous for its liberal business and taxation policy and is one of the best places people can think of for setting up a business. Not only it consists of advanced and state of the art infrastructure, but it also comprises of various free zones that cater to a specific industry. The main idea of the free zone is to provide a competitive and simplified business environment to companies both indigenous and foreign.
Incorporating a company in the free zone present with many benefits to a company. There are around 30 free zones in Dubai, and a company can choose the free zone to incorporate the business according to the nature of the activity being followed by the free zone. The companies in the free zone have various benefits, such as:
- No Restriction on the Movement of Currency
- 24*7 workability of the free zines
- Vast Network of Roads
- High Transport Connectivity
- Faster and simplified licencing
- State of the art infrastructure
- Single window for clearance of administrative services
- Pre-built structures- offices, factories, warehouses
- Minimal Import/Export duty
- Zero per cent corporate tax
These are only some of the benefits and do not make the complete list of the advantages that a company can avail from the free zone.
Now let’s focus on the various business advantages which are available in the free zones in Dubai.
Business Advantages in the Free zone
As mentioned earlier, each of the free zones focuses more on the type of activity which is being followed. This helps the companies to take advantages of the various business opportunities present in the business environment.
Some of the many business opportunities available in the free zones are as follows:
Retail and Small Scale Manufacturing
Dubai is famous for shopping, and this has led to an increase in the retail sector of the country. Millions of customer's fly from all around the world and come to Dubai to buy the thing. This has created an opportunity for the retail sector to fulfil the demand that is made by the customers. There has been an increase in the number of small shops and boutiques in the last couple of years in the country.
Be it the Expo 2020 or the various parks and buildings, and three are many infrastructures that are created for the people to use. Moreover, the government continually initiates a new free zone or announces a new construction project at periods. This has created a high demand for the construction business both in the mainland and in the free zones.
Travel and Tourism
Dubai has a rich cultural background and offers various free zone for the conduction of business to the budding businessmen and entrepreneurs from all over the world. People flock to Dubai to incorporate a company in the free zone, and also many tourists come to the country from across the globe to visit the various places such as the amusement parks, the infrastructural marvels such as the Burj Khalifa or the humanmade islands etc.
Accounting and Bookkeeping
With the increase in the people coming in the country to set up their businesses, there is a unique need for accounting and bookkeeping service. We all know how accounting and bookkeeping can help a company. This accounting and bookkeeping services can be used in the companies for the mainland as well as for companies in the free zones.
E-Commerce is a growing sector and provides even more excellent opportunities in Dubai. As there are many shoppers in the country and many more come from abroad, there is a large population which can become the target for the retail companies.
Expats of various nationalities come to the country to form businesses, and it is a common understanding that many of them will bring their families with them. This creates a need for essential educational services such as schools, pre-schools etc. Dubai is also gradually turning into an education hub as more and more people are flocking to the area.
Real estate is a growing sector in the UAE. We have seen the infrastructural marvels the people in UAE have created. Added to this the increasing footfalls of tourists and the growing numbers of the business in the country provide an excellent opportunity for the Real Estate Service
Setting up a company in the free zones can provide an incredible boost to the company as well as they attract many foreign companies which will help alleviate the economy of the country
If you are looking to set up a company in and of the Free Zones of Dubai, taking the assistance of the services of “Commitbiz” is highly recommended. Commitbiz will not only help in the incorporation of a company in the free zone but will also provide various other services which will help in keeping track of the VAT and tax filing of the company. For more details, contact us – we will be glad to help.