A business friendly environment makes the UAE a most favorite and popular destination for entrepreneurship and business investments. It is becoming the most attractive destination for investment for entrepreneurs worldwide. The country has most business friendly tax laws and this is the main cause that investors are coming here from all over the world. One of the main reasons that is making this country an attractive option to invest are the free zones. Setting up business in a free zone in Dubai is one of the most attractive options to invest.
Free Zones in UAE
Every free zone has a long list of business activities that have potential for growth. The major thing that provokes the investors to invest in the free zones in UAE are the tax rates, 100% ownership and withdrawing the capital and profits and sending them to the home countries. In this article we will consider writing on the free zones that are best for investment according to the people. Before going any further we must put some light on some of the key factors.
Business Activity
The free zones are generally industry specific which means that you can invest in those free zones only for those specific business types. The good thing about the industry specific free zones is the availability of the facilities for that particular business. There are some general purpose free zones as well and these zones do provide the best services for all sorts of businesses. The activities that we register for the business and we are only liable to perform business in these activities are referred to as business activities in the free zones. Every business activity must be registered in the free zone before starting the business and you need the business license from the free zone.
The Importance of Location and Support Available
Every free zone has a different location from the other one therefore the location of the free zone is one of the factors of key importance. There are more than 46 free zones in the UAE and these are scattered in all the different emirates of the country. These free zones differ in available support and also have different locations as well. Every business has to seize the opportunity of growth on the basis of their niche. The location of the free zone may affect the business for example if you are doing a general trading business then free zones near the seaport are better for example Hamriyah Free Zone, Ajman Free Zone or Jabal-e-Ali free zone.
Best Free Zones As Per The Facilities
All the free zones in UAE are best in facilities but as per our experience the following free zones are the best in services and facilities.
Meydan Free Zone
Meydan Free Zone is in Dubai and it is one of the free zones that actually act as the general purpose free zones in Dubai.
- Affordable cost of license.
- Installment plans available.
- Top notch facilities available.
- Support for startups available.
- Training facilities for staff available.
- Home to Dubai World Cup (Horse Race).
Ras Al Khaimah Free Zone
RAKEZ free zone is the best zone that provides business opportunities for all. The free zone offers the best facilities as under:
- An allrounder place of doing business of all sorts.
- Most cost-effective free zone of all.
- Located in the heart of Ras-Al Khaimah.
- Near Sharjah International Airport.
- Spacious Warehouses, and industrial zone.
International Free Zone (IFZA)
It is located in Dubai city. The benefits of the IFZA free zone are as follows:
- Location is in the heart of Dubai and near to all popular destinations.
- Enjoy the tax exemption from the UAE government.
- Thousands of business activities available.
- Networking possibilities with different businesses.
- Support from the authorities.
- 100% foreign ownership available.
Sharjah Publishing City (SPC)
SPC free zone is located in the emirate of Sharjah and it is a free zone which offers the business setup facilities in the publishing sector and also some other sectors as well.
- It is located in Sharjah and near the airport.
- 100% company ownership for foreigners.
- Tax exemptions for all.
- Can do business in mainland with the free zone license.
Sharjah Media City (Shams Free Zone)
Shams free zone is also one of the free zones that are available in the emirate of Sharjah. It is again for the business in Media but some other activities are also available.
- Location in the heart of Sharjah and on Sheikh Zayed Road.
- 100% ownership facility for foreigners.
- Tax exemptions available and 0% corporate tax.
- Installment plan available for business.
