As Dubai re-opens its economic activities, it launches a series of incentives to help business owners recuperate. This entices aspiring investors to set up a free zone company in Dubai. But is setting up a new business worth it in times of pandemic? We, the experts, encourage investors to take advantage of this golden opportunity and reap the stunning benefits of setting up a free zone company in Dubai.
Stunning Benefits of Setting up a Free Zone Company in Dubai
100% Ownership
Unlike other businesses in other countries, Dubai offers 100% ownership to the free zone company you set up without the aid of a UAE sponsor. This means you’ll have complete autonomy for your company and business.
You don’t need to ask for a UAE or Dubai local’s help, support, or sponsorship for your company. This entices investors as they can directly launch their plans for the company without the hurdle of a middleman.
Tax Exemptions
Another major benefit of setting up a free zone company in Dubai is the tax exemptions. Foreign investors enjoy exemption from personal income and capital gains tax. This lets them save more money in the long-run. The foreign investors can divert the funds they saved from taxes into more crucial parts in their business. Unlike in other countries where they have to pay hefty taxes for their income and capital gain tax.
Full Repatriation of Capital and Profit
Since most foreign investors don’t need to pay for personal income and capital gains tax, they can truly enjoy utilizing their business profit. They can use the funds to invest in more crucial parts in their business like expansion and extension.
Minimal Import and Export Duty-Taxes
Another major benefit of setting up a free zone company in Dubai is the minimal import and export-duty taxes. In Dubai, you’re only paying minimal fees for your import and exports; unlike in other countries where they need to pay hefty fees for importing or exporting their products abroad. This makes your business boom further as you can freely engage in business overseas.
Zero Percent Corporate Tax
Dubai is truly generous to foreign investors who set up free zone companies in Dubai. Aside from these tax exemptions, the government also gives 0% corporate taxes. This will really help investors set their footing in the Dubai market and earn more funds in the process.
Free Currency Movements
Another thing you’ll enjoy having a free zone company is having free currency movements. This means you can freely accept international currencies in your business without worrying about conversions. Dubai is an international business hub so you’ll find thousands of banks where you can have your currency converted. So it’s never a problem if you’re accepting multiple currency payments as the cash flow is free compared to other countries or cities.
One-Stop-Shop for Administrative Services
Don’t want to deal with the hassle of paperwork and going to several agencies to process your free zone company set up? No worries! The Dubai government has set up a one-stop-shop to have a single-window clearance for all administrative services.
You only need to stay in one place and move from window to window to process all your paperwork. In just a few days, you’ll get an approval to operate right away! It makes your business set up and licensing easier and faster.
Transparent Laws and Regulations
The Dubai government implements stable and transparent laws and regulations; not only for free zone company areas but in public in general. The government’s stable laws and regulations make it an appealing place for investors to move in. You’re assured that your business and investment is safe and sound in Dubai and it’s in for a long time.
Contact our agents now to help you set up your own free zone company!
