The United Arab Emirates (UAE) aims to establish itself as a global industry hub.
The United Arab Emirates (UAE) aims to establish itself as a global industry hub. It is foreseen as a platform attracting international investors worldwide to invest in different business sectors. By providing a world-class infrastructure and organized transportation network system, UAE moves forward towards its ultimate goal. The Economic Zones World (EZW) is a global designer that aims to build strong and robust infrastructure and road networks. The company was established in the year 2006 and is headquartered in Dubai, the vibrant city of United Arab Emirates (UAE). EZW mainly constructs the economic zones, tech parks, with an aim to establish a strong, sound road network along with the core industries. Ease of transportation is the main focus so as to operate the business activities in a hassle-free way and maintains a sustainable society. The EZW is held by the Dubai World Group. The ultimate aim is to expand Dubai dynamically and establish itself as a platform for global businesses in multiple sectors and to gain international investors to contribute towards the global economy. The company has expanded its reach and have successfully covered Asia, Africa, the Middle East and the American market.
Business in EZW
EZW focuses on diverse sectors and spans multiple business segment. The expansion of EZW business reached to an extent wherein they commenced including major names in their business portfolio:
- Jebel Ali Free Trade Zone Authority (JAFZA)
- Dubai Techno Park
- Dubai Auto Zone (an automobile hub developed to re-position the used cars in the Asian and African market)
By the end of March 2015, Economic Zones World became a subsidy of DP World.
DP World was established in the year 2005 by merging Dubai Port Authority and Dubai Ports International. According to Arabian Business News, the DP World operates with Abu Dhabi’s Khalifa Port, for a sum of $2 billion.
Types of Companies in EZW
A company in EZW can take one of the following business forms:
1. Free Zone Establishment (FZE)
An FZE can be formed by a sole proprietorship or corporate shareholders.
2. Free Zone Company (FZCO)
An FZCO requires a minimum of 2 shareholders for the company to incorporate.
3. Branch Office
Licenses Provided in EZW
The licenses provided for training under the free economic zone have been divided into categories based on the nature of the business. These include:
1. Trading License
Mainly used for the import/export of goods.
2. General License
Used for goods that requires special permissions.
3. Service License
Issued to companies that deal with consultancy, medical, accountancy, etc.
4. Industrial License
Mainly used for manufacturing, processing, packaging companies.
Benefits of Setting Up Your Company in EZW
The EZW free trade zone allows investors to avail certain benefits for setting up their business here. These are:
- Minimal renewal fees
- No tax burden
- 100% foreign ownership
- Provision to own a local bank account
- No restrictions for carrying out more than one business
- Option to wind up the company at any point in time
- Flexibility to own property
We can see that the Economic Zones World provides a fertile environment for setting up business parks, tech parks and at the same time it offers a platform to international investors as well to set up their businesses in these zones. This acts as an eye-opener for millions of investors who wants to gain an international exposure. Economic World Zone focuses on building a perfect network system to ease out the business activities worldwide.
So, are you planning to be a part of the network? Willing to initiate your business at an international level? Do you want your company to operate in a tax-free zone?
If you have decided to establish and expand your business roots, you should keep in mind that different countries have different norms to establish a business. The need for a guide does exist at this point. You need to join hands with someone who can guide you in a foreign land, helps you to understand the legal rules and regulations. This is where Business Setup Worldwide (BSW) comes into picture. We are a business consultancy platform you can rely upon in helping you throughout the initiation process of your company. BSW has got a large number of business experts and satisfied clients all around the world. Our experts will help you to clear out the legal procedures and move ahead towards incorporation of your company. To know further, do contact us. We would be glad to assist you in turning your dream business into reality.