Jebel Ali Free Zone
With its rapid growth and standing as one of the largest free zones in the Middle East, JAFZA is one of the most popular business hubs in the world. know more
Dubai South Free Zone
Dubai South free zone formerly known as The Dubai World Central (DWC), is an impressive 140 square kilometer brainchild of the government of Dubai Know more
Meydan Free Zone
The Meydan Free zone is located in the heart of Dubai and its competitiveness in terms of start-up costs for business set up while still maintaining high standards Know more
RAK Free Trade Zone
Ras Al Khaimah Free Trade Zone Authority has created the system of four unique Free Zone Parks that will suit and serve every investor according to their requirements. Know more
Dubai Airport Free Zone
DAFZA is established and fully owned by the Dubai government and is one of the most premium Free Zones where investors can be part of the high-profile business sectors. Know more
D3- Dubai Design City
Dubai Design District (D3 Free Zone Dubai) is a purpose-built community dedicated to promoting and nurturing emerging local talent and providing a creative home Know more
Created in 2003, The International Humanitarian City (IHC) was designed to be the hub for collaborations between humanitarian aid and the commercial businesses organizations Know more
Sharjah Media City Free Zone
SHAMS has taken the responsibility to give an opportunity to everyone who wishes to set up a business of their own, establish their name in the media industry. Know more
DMCC Free Zone
Dubai Multi Commodities Centre or DMCC is one of the many free zones located in the in Dubai and is regarded as one of the fastest growing free zones Know more
INTERNATIONAL FREE ZONE AUTHORITY
Strategically situated within one of the UAE’s dynamic business gateways, IFZA, Dubai is a leading free zone that provides local and international businesses Know more
Ras Al Khaimah Economic Zone
Ras Al Khaimah Economic Zone (RAKEZ) is a strategic initiative by the government of Ras Al Khaimah to consolidate RAK Free Trade Zone and Ras Al Khaimah Investment Authority Know more
Dubai Internet City (DIC) - United Arab Emirates
Dubai Internet City is The leading tech community in the region, offering the perfect environment with the right mix of commercial spaces, services, retail, events for innovators Know more
What is a Freezone company in the United Arab Emirates (UAE)?
A Freezone company is a type of business entity that is set up in a designated “free zone” within the UAE, which provides a favorable regulatory and business environment for companies operating in the region. Free zones are designed to attract foreign investment and facilitate international business.
What are the advantages of setting up a Freezone company in the UAE?
Setting up a Freezone company in the UAE provides several advantages such as 100% foreign ownership of the company, exemption from corporate and personal income taxes, full repatriation of profits and capital, and access to a growing market in the Middle East.
What types of businesses can be set up as Freezone companies in the UAE?
Almost any type of business can be set up as a Freezone company in the UAE, such as trading companies, consulting firms, manufacturing companies and service providers.
How is a Freezone company formed in the UAE?
To form a Freezone company in the UAE, an investor needs to follow a specific process such as selecting the appropriate Freezone, choosing the legal form of the company, registering the company with the relevant authorities, obtaining a trade license, opening a bank account, and obtaining visas for the company’s employees.
What legal forms are available for Freezone companies in the UAE?
Different legal forms are available for Freezone companies in the UAE, such as Limited Liability Company (LLC), Branches, and Subsidiaries.
What are the requirements to set up a Freezone company in the UAE?
Requirements for setting up a Freezone company in the UAE vary depending on the selected Freezone. However, the general requirements include submitting the necessary documents such as passport copies, corporate registration documents, obtaining a business license, and paying the applicable fees.
Can a Freezone company operate outside the UAE?
Yes, a Freezone company can operate outside the UAE, but the company will need to establish an overseas presence in the countries where it operates.
Can a Freezone company operate within the mainland area of the UAE?
A Freezone company can conduct business with companies and individuals based in mainland UAE once it obtains the relevant approvals and licenses from the authorities. However, it cannot conduct commercial activities or have a physical presence outside of its designated Freezone area.
What is Freezone company compliance in the United Arab Emirates (UAE)?
Freezone company compliance refers to the set of regulations and rules that Freezone companies need to adhere to in the UAE. Compliance requirements may vary depending on the Freezone where the company is registered and the industry the company operates in.
Why is complying with Freezone company regulations important in the UAE?
Complying with Freezone company regulations is important in the UAE to avoid penalties, fines, and other legal actions by the authorities. It also helps to build a positive reputation, maintain transparency and trust with stakeholders, and ensure the sustainable growth and development of the company.
What are the common compliance requirements for Freezone companies in the UAE?
Common compliance requirements for Freezone companies in the UAE include obtaining and renewing business licenses, maintaining proper accounting and financial records, filing tax returns, conducting audits, and following labor laws.
What is the penalty for non-compliance?
The penalty for non-compliance varies depending on the nature and severity of the violation. It can range from warning letters, fines, suspension of business activities, and even revocation of business licenses.
How can Freezone companies ensure compliance with regulations in the UAE?
Freezone companies can ensure compliance with regulations in the UAE by engaging professional services such as compliance consultants, lawyers, and auditors, who can provide guidance and support on regulatory requirements, and keep the company updated with changes and developments in the regulatory environment. Companies can also adopt an internal compliance framework, which includes implementing policies, procedures, and training programs to ensure adherence to regulatory requirements.
Who is responsible for monitoring Freezone company compliance in the UAE?
Freezone company compliance in the UAE is monitored by various government authorities such as the Freezone authority where the company is registered, the Ministry of Economy, the Federal Tax Authority, and the labor and immigration authorities.
Are there any free resources available to Freezone companies in the UAE to help with compliance?
Yes, some Freezone authorities in the UAE provide free resources such as online compliance guides, workshops, and seminars to help Freezone companies comply with regulations. There are also public resources available from the government authorities, such as websites, e-services, and hotlines, that provide information on regulatory requirements and compliance procedures.