UAE Free Zones Exceptions that Will Benefit Your Business

UAE Free Zones Exceptions that Will Benefit Your Business

The UAE Free Zones offer investors and business people from around the world a unique opportunity to start a business in the country the right way. Free Zones are designated areas where company formation in UAE is streamlined, and there are no traditional trade barriers.

As a leading business consulting service in the UAE, we help investors just like you make the right decisions when it comes to incorporation. Following are the exceptions in some of the free zones in the UAE.

Exceptions for Incorporation

At the time of Free Zone company formation in UAE, you are not required to be physically present in the UAE as you can hire consultants like us to represent you. Note that in some cases, if the proper documentation is missing, then it may lead to legal consequences. Online registration of the business is allowed where you will be required to present electronic copies of the required documents and your signature for authentication purposes.

The ownership structure is fairly straightforward where you can maintain 100% foreign ownership of the business. Generally, 1 to 5 shareholders are allowed, but in certain Free Zones, you can appoint up to 50 shareholders. Registration takes a couple of weeks, and in some Free Zones just one hour.

In some cases, you will have access to the database of all the other registered companies within the Free Zones. Opening a charitable organization in select Free Zone is also now available for which you will register as a non-profit entity. To learn more about this new business structure, you can get in touch with us!

Financial Exceptions

While deposit of initial capital is a general requirement, in some Free Zones of UAE you may make your capital deposit after receiving the licence. In some instances it is not mandatory at all. That makes it a great advantage for you allowing to plan your finances smartly with the professional assistance in the process of business consulting services like us.

Each Free Zone has its own advantages and flexibility bonuses. For example, security approval is a must when it comes business registration, but it certain Free Zones you may register the company without it, and even though security approval with come up at the stage of a resident visa application, still you can win yourself some vital time if it’s the case for you. The same is with audit. Audit is mandatory by the law. And while some Free Zones wouldn’t even renew your licence without you filing such report, yet, there are Free Zones that wouldn’t ask you for it at all.

Visa Exceptions

Note that the visa exceptions will vary greatly, depending on the Free Zone you choose to incorporate in. This is why it is essential to discuss these matters beforehand so that you know what benefits and limitations you have. In some cases, you are not required to obtain a UAE Residence Visa following business registration. In addition, you may be exempt to change the current status of your visa if you are already in the UAE.

As the owner of a Free Zone company, you get to enjoy tax-free residency in the UAE. This allows you to take advantage of all the amenities of a UAE Residence Visa holder. Certain exceptions allow you to stay outside the UAE for up to 365 days and do business remotely, which is not offered to other business owners. However, not every Free Zone provide such exception, so if it’s vital for you to have this flexibility, make sure to get professional consultation prior to choosing a Free Zone for your business.

Operations and Staffing Exceptions

As far as operations go, you have the flexibility of selling within and/or outside the UAE as per your business type. Free Zones at the port and near the airport are given warehousing facility. There are also specialized Free Zones for businesses in fashion, media, commodities, healthcare, education, technology and many more.

UAE has a large talent pool of talented individuals who can take your Free Zone company to new heights. Free staff training is available to make sure your employees are up to date with working in the UAE and excelling at their jobs. Flexible office spaces are available to make the most of the small staff, and accommodation options make it easy for you to provide your employees good coverage.

Note that different Free Zones within the UAE offer different exemptions. There is no doubt however that Free Zone company formation in UAE is a lucrative opportunity. At My Business Consulting DMCC, a multi award winning corporate service provider, we ensure you choose the right business structure and Free Zone according to your needs, and help you setup your business for success from registration to Accounting Bookkeeping.

Whether you incorporating a brand new business or thinking of moving it to a better business environment, let the true professionals build a strong foundation for it. Reach our Business Setup Specialist for a kind expert advice: +971 58 811 9981 Share your questions with us: [email protected]