Freezone

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  • #5599

    I have no idea about what the freezone is. Is it possible you can explain about it?

    #5601

    [10:08 AM, 5/29/2019] Reshma Varal: • Free Zone may refer to: Free economic zone, designated areas in which companies are taxed very lightly or not at all in order to encourage economic activity. Free trade zone, an area in which goods may be landed, handled, manufactured or reconfigured, and re- exported without the intervention of customs authorities.
    • Freezone companies are registered with Freezone Authority
    • Freezone authority or jurisdiction governs a particular area within the Emirates
    • It has a small boundary or limits
    • There are many free zones, some are specialized in some activities like media, education, technology, Design etc.
    • It is mandatory for every company registered in the Free Zone to lease minimum office space within that particular Free Zone.
    • A Free Zone Company can obtain UAE residence visas for the director, shareholder and also employees of the company through the Free Zone where it is registered.
    • The main attraction for setting up a company in a free zone is that there is no UAE national shareholding required.
    [13:23, 5/28/2019] Jenny PA t5: The main benefits investors enjoy when starting a business
    • 100% foreign ownership
    • 100% repatriation of capital and profits
    • 100% free transfer of funds
    • 100% exemption from import and export duties
    • Free zone company formation is quicker than incorporation outside in the city
    • Inexpensive workforce and easy recruitment procedures
    • Virtual offices are provided to start a business with lower investment.
    • 25 years lease options, warehouse facilities, availability of areas for
    production and assembling etc.
    • Limitations
    • A Free Zone Company is not allowed to trade directly with UAE market. The Free
    Zone Company can undertake the local business only through the locally
    appointed distributors.
    • Can trade inside dubai through locally appointed distributors.
    • Cannot advertise their product outside freezone.
    • Cannot be located outside freezone.

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