Choosing the UAE Free Economic Zone for company registration
Registration of a company in the UAE Free Economic Zone is relevant for entrepreneurs. Such zones represent business areas within the jurisdiction, which allow foreign investors to open companies. There is preferential tax treatment within the zones. Firms, which were opened in FEZ, may conduct business within the territories and open accounts in banks of the country.
TOP free zones in UAE
Before you open a company in the UAE Free Economic Zone, you need to choose the area that will be most suitable for business, taking into account its characteristics. It is recommended to choose the territory, where it will be possible to establish logistics.
One of the popular areas is Jebel Ali (JAFZA). It is possible to open a company with foreign capital. To operate a company you need to have a registered office and appoint an agent.
The company may carry out any legal activities, open accounts with financial organizations within the FEZ and own real estate. There are no conditions regarding the smallest charter capital. At least two directors and a secretary are required in total. It is necessary to keep accounting reports.
The Ras Al-Khaimah zone provides for the possibility of opening a company with foreign capital. It is possible to conduct any permitted activity, open an account in the country and own real estate assets. At least one director is needed. There are no conditions to the minimum authorized capital.
Registers are closed. A secretary and an agent are required. It is necessary to have an office within the FEZ and to keep accounting records.
This zone is the fastest growing and most prestigious for starting a business. This is due to its specific geographical location. The smallest amount of authorized capital should be at least 50,000 dirhams and it should be formed in a bank account.
There are requirements for the submission of audit reports. FEZ has very strict rules regarding license renewal. To open a company in any of the free economic zones in the UAE, please contact our specialists at IT-OFFSHORE.
The system of taxation in the Emirates does not provide for taxes for individuals, but there are fees for owners of real estate and for renting accommodation. There are also fees for the services of restaurants and hotels.
Each FEZ has its own peculiarities of tax assessment. Many companies can get a tax exemption for the first 15 years and extend it, so friezes in the Emirates are relevant for entrepreneurs from around the world.
The most popular in the country is opening a business related to construction and tourism development. It is advantageous to register a business in the field of logistics, production of goods, as well as business related to export, import and professional medical services.