UAE free-zone company registration
Many entrepreneurs are looking to buy an offshore in the UAE, but it is not available in Dubai and other cities in this jurisdiction. Most often, the registration of a firm in the UAE is required to expand the geography of business and successfully cooperate with a large number of countries.
Main free economic zones in UAE
The main reason why many businessmen seek to register a company in the UAE is the availability of free economic zones (FEZs). These zones provide favorable conditions for foreign investors. It is possible to open a company with foreign capital and reduce the tax burden. There are benefits for customs operations.
In total, there are several main FEZs in the Emirates. One of them is DMCC. It is possible to conduct different types of activities and obtain a license for trade and services. You may also purchase real estate within the jurisdiction and obtain a residence visa. The company is exempt from paying tax on profits but is obliged to submit an annual report.
The other FEZ is Jebel Ali. It has its own seaport. It is supposed to be able to obtain a residence visa and purchase real estate. A legal entity must file a report. It is possible to work in any permitted area.
Work is possible in the RAKEZ area. The company receives an exemption from income tax; no annual reporting is required. In the Ajman zone it is possible to do business in different areas and the company is also exempt from income tax. No reporting is required as well.
The benefits of registration
There are some advantagesto why you should buy a company in the UAE. English is common in the jurisdiction, making it easier to work with local businessmen. Although the local currency is the Dirham, there are other currencies that can be used.
When importing goods into the UAE domestic market, the company is required to pay a customs duty, which is 5% of the value on the import declaration. When registering a company in the free zone, tax payments may be omitted. The state has concluded agreements with some countries on avoiding double taxation.
Features of business development
UAE residents can open an LLC company, which allows them to conduct open business in the Emirates market. Non-residents have the right to open a limited liability partnership. Such a company is beneficial if tax optimization is required.
Please contact IT-OFFSHORE if you need to choose a suitable business form. Our specialists will answer any questions you may have. Buying a company is easier than registering a new company from scratch. The advantage is that the documents are prepared quickly and the company has a registered address.
Both residents and non-residents can open a firm in the UAE. When establishing a company you need to confirm the level of income and indicate the sources of capital. If you plan to work in the financial industry, you will need to obtain special permission, which is available only to residents.