Free zones, also known as free trade zones, are economic areas where business owners control 100% of their companies and are exempt from tax schemes.
The development of free zones has provided the foundation for attracting marketing, trade, and investment possibilities, resulting in the fast expansion and success of the country's financial, information technology, logistics, commerce, and media industries.
While seeing the current growth of the Dubai free zone, it is ultimately the right time to start your business. If you consider growing your business or beginning a new one, you may learn more by reading this blog.
What is a Dubai Free Zone?
Dubai Free Zone is a thriving destination for millions of businesses and investors.
Before beginning any business, one needs to understand the Dubai free zone thoroughly. Because starting a business necessitates a strategic location, understanding the Dubai free zone is essential.
Dubai's free zone area has long been a popular location for businesses and investors worldwide.
Dubai's free zones have long drawn international investors, particularly multinational corporations, due to its tax-free status and 100 per cent foreign ownership rights.
As we learned, it was a suitable hub for doing business; there were many benefits of establishing a business in the Dubai free zone.
Current Scenario of Dubai Trade Free Zone
Do you know how the Dubai freezone is growing right now?
If not, you can proceed with reading our entire blog.
Currently, free zones account for a significant portion of Dubai's private sector growth.
According to Sheikh Ahmed bin Saeed, head of the Dubai Free Zones Council, free zones in Dubai are contributing Dh250 billion to the emirate's GDP by 2030.
Free zones increase Dubai's appeal as a preferred investment location by diversifying the economy and promoting sustainability and growth.
In the post-pandemic period, free zones are more likely to support the development of technology-based key industries and provide attractive growth opportunities to global investors.
While reading about the growth of the Dubai free zone, are you thinking of starting a business in Dubai freezone?
If so. You can start it without any hesitation.
Starting a business in the free zones in Dubai will help you achieve your goal.
An Overview of the Numerous Dubai Free Trade Zones
Are you excited to know the different free zones in Dubai? If so, I'll name a few prominent free zones in Dubai.
Dubai Multi Commodities Center
Dubai Multi Commodities Center is one of Dubai's prominent free zones. It provides a thriving marketplace for businesses. It has been named Global Free Zone of the Year 2021 by the Financial Times' FDI Magazine.
It offers a lively community and strong connections by air, sea, and road for your company established in Dubai, with over 15,000 registered members.
DMCC is a luxurious free zone alternative for businesses in the finance or commodities sectors.
With a single licence, DMCC permits up to six commercial operations (from the same group) to be carried out, including industrial, service, crypto commodities and general commerce trading. DMCC is one of the free zones offering dual franchise businesses.
Dubai World Central Free Zone
Dubai World Central Free Zone is a substantial free zone with direct access to two major airports, Jebel Ali Port and Al Maktoum International Airport.
With easy access to important trans-emirate road networks, DWC free zone has established itself as an accurate multimodal logistics and commercial hub.
DWC Free Zone has modern amenities and world-class infrastructure, including six e-commerce-specific zones.
It is an important Dubai free zone for company establishment in the aviation and logistics sectors and other industries such as humanitarian operations and hotels.
Dubai Airport Free Zone Authority
Dubai Airport Free Zone Authority is home to nearly 3100 businesses from various industries, including the light industry, pharmaceuticals, commerce, logistics, information technology, jewellery, and manufacturing.
It was near the Dubai International Airport; the DAFZA free zone serves as an economic link between the Middle East, Europe, Africa, and the rest of Asia.
Foreign investors can establish their businesses in DAFZA and benefit from total business ownership and a zero-tax environment. In addition, the best-in-class infrastructure and contemporary facilities enable enterprises to begin operations within days after establishing their company.
We observed that Dubai's number of free trade zones is rapidly expanding. So, if you want to start a business in one of Dubai's free zones, you can seek guidance from a business expert. Business consultants are those with years of expertise in the sector. They will connect with the different free zones and assist you in resolving the issues.
We at Business Setup Worldwide would make your job more efficient. We will assist you if you require competent counsel from business advisors. Furthermore, we would be delighted if you reached us with several questions. Do contact us for more information and fulfil your dreams so that the complete procedure is successful and time-efficient.
How many free zones does Dubai have?
There are more than 30 free zones in Dubai.
Do freezone are exempt from tax?
What are the steps required for starting a free zone company?
The steps required for starting a free zone company are,
Determine the legal entity type
Choose a business name
Make an application for a business license
Select an office space
Get pre-approvals, register your company and obtain your license
Can companies from free zones undertake business in Dubai?
Companies registered with free zone authorities are not permitted to conduct business in Dubai Mainland.
How many companies are there in DMCC?
There are more than 20,000 companies in DMCC.
Why did the government introduce the free zone concept?
The government introduced the free zone concept to diversify the economy and attract new businesses and international investment.
What minimum share capital is needed to form a free zone company in DMCC?
In DMCC, the minimum share capital for forming a free zone company is AED 50,000 per company and AED 10,000 per shareholder.
List out a few business activities conducted in Dubai Free zones?
A few business activities conducted in Dubai free zones are content production. Advertising. Animation. Corporate Film production.
Which free zone is best in Dubai?
The Dubai Multi Commodities Centre is the best free zone in Dubai.
Can a foreigner start a freezone company in Dubai?