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UAE Free Zone

How to set up a company in UAE free zones?

In UAE, the Free zones are considered as a boon for investors as they offer a catena of benefits to boost international businesses. While working in these free zones, the foreign investors have the privilege to possess complete ownership (100% ownership) and various tax exemptions. Presently, more than 50 free zones are located in various parts of the country.

 

What is a free zone?
A Freezone is a selective demarcated geographical area that enjoys various business incentives and the laws applicable to these areas are normally different to the jurisdiction in which it is based. The main objective of setting up a freezone is to encourage the development of a business, boost foreign investment, increase employment and diversify the economy.
Each free zone is established by a specific decree and it has its own licensing authority and corporate regulator. Further, they are governed by different sets of rules and regulations. The entities working in the UAE free zones are not allowed to operate commercially on the UAE mainland.

 

Major benefits of setting up a company in Freezone are as follows-

  1. The foreign companies within free zone are not subject to any tax or custom duty.
  2. The incorporation process is very quick and normally completes in 15 days.
  3. The foreign investors can hold 100% ownership in the free zone.

Procedure to set up a company in free zone

  1. Determining the legal type of the company
    In the free zone, mainly two types of entities operate; namely, Free zone company and Limited liability company (LLC). The option to set up an LLC is only available in selective free zones, therefore, free zone entities are normally preferred by the foreign investors.
  2. Company name registration
    After determining the legal nature of the company, the investor needs to choose and register the name of the company with the free zone authority. This is also known as trade name registration.

    However, it is important to note that there are certain restrictions while choosing the name. The name shouldn't be offensive; the words refering to Allah, religious groups, political groups, etc should be strictly avoided. If you want to name your company after a person, it must be the partner or director of the company with their full names. Further, the name shouldn't be identical or in resemblance with any existing company.

  3. Business license
    After the business name is approved, the investor needs to go for business license application. It is important to note that the required documents vary in different freezone.

    One of the essential conditions is that the shareholder needs to submit a copy of his passport, which must be valid for a minimum period of 6 months. In some free zones the entire applicable process can be done virtually whereas some requires the interested investor to complete the formalities physically.

    The shareholder also needs to submit the Memorandum of Association (MOA) of the proposed company.  Normally, the authority can approve the same within 10 days. After setting up the company, can make a request for the company establishment card (CEC). The investor can make a request for e-channel registration after the CEC is available.

 

Main free zones in UAE
Some of the major free zones of UAE are as follows-

  • Dubai International Financial Centre (DIFC)
  • Dubai Airport Freezone Authority
  • Dubai Design District
  • Jebel Ali Free Zone
  • Ras Al-Khaimah

 

Final thoughts
The process of incorporation is quite smooth. However, the interested person needs to take assistance of best qualified company lawyers while drafting Memorandum of Association and other legal documents to avoid any further disputes.

How to set up your business in AUH free zones?

Investing is laying out money now to get more money back in the future- Warren Buffett
UAE is among the top business destinations in the world. Investors get a plethora of benefits and advantages by putting their money in this low-risk economy. Abu Dhabi free zones are also creating buzz among the investors and let me tell you, the buzz is for all the right reasons!

In this article, we will uncover the process and advantages of setting up a business venture in Abu Dhabi free zones.

Why Abu Dhabi free zone?
Tax exemptions, full repatriation of profits and capital, quick immigration, local sponsorship is no longer a requirement, ease of doing trade, and no customs duties on exports & imports aresome of the benefits of choosing Abu Dhabi as your business destination.

Process of setting up business in Abu Dhabi Free Zone
In case you are applying from outside the country, an Employment Visa Entry Permit has to be obtained at the Abu Dhabi airport. The steps of the process are as follows:

  1. Decide the legal business structure suitable for your business, based on the type of activity you intend toperform. Consult the best local attorney to become aware of one’s rights and duties in registering an organization in Abu Dhabi.
  2. Documents required to set up business in Abu Dhabi are as follows:
    • Passport-copy of the shareholders
    • Application form
    • Company’s suggested names
    • Professional Reference Letter
    • CV for freelance
    • Summary of Professional History
    • Nature of intended business activity and address proof
  3. Apply for a business license
  4. Open a bank account for your company in a local bank and choose an office space.
  5. Prepare all the legal documents and then getyour business registered as a Free Zone Company or Free Zone Establishment or aRepresentative office or branch. One can also apply for a freelance permit which will help you do business in your birth name.

List of Abu Dhabi free zones:

  1. Abu Dhabi Airport Free Zone (ADAFZ)
  2. Abu Dhabi Ports Company Free Zone (ADPC)
  3. Industrial City of Abu Dhabi
  4. Masdar City Free Zone
  5. Khalifa Industrial Zone Abu Dhabi (KIZAD)
  6. Higher Corporation for Specialized Economic Zones (ZonesCorp).
  7. Twofour54
  8. Abu Dhabi Global Markets Free Zone (ADGMFZ)

These 8 free zones have set differentminimum paid-up/share capital requirements for setting up a business, forinformation regarding these and other minimum requirements, consult an experienced corporate lawyer in Abu Dhabi.

Conclusion
Make most of the opportunity that has come on your way! Our team of the best lawyers in Abu Dhabi will assist you to take your earnings to the next level.Get tailor-made solutions to your financial problems, contact us at info@bsb.legal or call us at +97150 8014003.

How to set up business in Sharjah free zones?

If you don’t build your dream, someone will hire you to help build theirs!
UAE is heaven for investors, no corporate and personal income tax, no customs duties on exports and imports, a flexible law regime, world-class infrastructure, and the list goes on and on. If a country is offering you so much then why hold back? Come, invest your money in UAE’s Sharjah-free zones to make more money!

Why Sharjah free zones?
Apart from the above-mentioned benefits, some other advantages are as follows:

  1. Security of investment, who doesn’t want a low-risk investment?
  2. Cheaper lease rates, meaning more profit for you!
  3. Onsite labour accommodations
  4. No restrictions on currency and complete privacy for investors.
  5. Presence of local, and foreign banks, meaning less hassle!
  6. Easy access to big ports and Sharjah International Airport, meaning more time to focus on business development!

What do you have to do to set up business in Sharjah free zones?
Investors should decide the nature of business meaning, the business activities they want to perform in future, and the name of the company. After this, they should get the mandatory licences from the relevant authorities. Experts suggest hiring a skilled corporate lawyer who will save you from the hassle of completing these formalities.

List of free zones in Sharjah:

  1. Hamriyah Free Zone
  2. Sharjah Airport International Free Zone
  3. The U.S.A Regional Trade Centre Free Zone
  4. Sharjah Publishing City Free Zone
  5. Sharjah Media City Free Zone
  6. Sharjah Research Technology and Innovation Park Free Zone

Conclusion
Investors can choose out of the six free zones as per their business needs. BSB Legal, one of the best law firms in UAE, will assist you in making the right decisions for a successful business venture. Contact the best corporate lawyers in UAE at info@bsb.legal or call us at +97150 8014003.

How to set up business in Ajman, UAE?

Successful investing is about managing risk, not avoiding it- Benjamin Graham

Ajman free zones, the oldest free zone of UAE, have recorded significant growth over a period of time. The number of newly registered companies has increased manifolds. If you want to open your dream business in UAE then this is the best time to invest. Companies providing financial and tax consultancy services have made these free zones a business hub. Discover ocean of possibilities in Ajman-free zones by taking assistance from the best law firm in UAE.


Why Ajman free zones?
In the opinion of our best lawyers of Dubai, following are some of the notable benefits enjoyed by the businesses operating in Ajman free zones:

  1. 100% foreign ownership and no taxation.
  2. Provision of visas for expatriate workers.
  3. Land for development or pre-existing warehousing.
  4. Business premises supporting a range of business types, including 'smart offices', and co-working spaces.
  5. Business licenses can be renewed easily.
  6. Multiple attractive investment opportunities for all investors.
  7. Flexible investment models.
  8. UAE levies a 5 per cent VAT, companies at AFZA are exempted from VAT when trading between free zones or internally.

Process of setting up business in Ajman?

  1. Choose your trade name in accordance with Law.
  2. Documents required for setting up a business: application form with Signature, Passport size photo, Passport copy, UAE Visa copy, original NOC from the current sponsor if you have reached UAE on Residence or Husband Visa, have to be submitted with the Free Zone Authority for initial approval. Depending on the nature of your business, the list of required documents may differ.
  3. Decide the nature of your business (Free Zone Limited Liability Company and Free Zone Establishment), your business activity and the targeted customer.
  4. Obtain trade license.
  5. Open a corporate account in a local bank.
  6. Find the perfect office space for your business.

Free trade zones in Ajman are as follows

  1. Ajman Airport Free Zone (AAFZ)
  2. Ajman Free Zone (AFZ), established in 1988.
  3. Ajman Free Zone Authority (AFZA), the authority that governs AFZ.
  4. Ajman Industrial Free Zone, an industrial area part of Ajman Free Zone.
  5. Ajman Media City Free Zone (AMCFA).

Conclusion
Ajman-free zones provide the perfect synergy between ease of doing business and money-making opportunities for every kind of business. Our top lawyers will assist in company formation, obtaining trade licenses, and give expedient advice for business development.Get in touch with the best law firm in UAE at info@bsb.legal or call us at +97150 8014003 for more information.

How to set up business in Ras-Ai-Khaimah free zone?

Where you don’t need a physical office to start your business? The answer is Ras-AI-Khaimah, shocking and attractive at the same time! Right? One can have Flexi-desk or smart office for setting up business in the well-developed Free zone of this Emirate. The multi-cultural economy of UAE is booming right now and certainly holds a great future for investors too.

We can give you many reasons to invest in Ras-AI-Khaimah(RAK)Free Zone so that you don’t limit your goals because of hesitation and confusion. Let’s explore them with the help of our best lawyers of UAE.

 

Why Ras-AI-Khaimah free zone?

  1. Prime location in the Emirate.
  2. Humongous growth potential.
  3. Expats can have 100% company ownership.
  4. Best warehousing facilities.
  5. Easy accommodation for labourers and employees.
  6. Zero tax.
  7. Favourable policies and flexible laws.
  8. 2 billion consumers in your reach, big numbers right?

Companies that you can set up in RAK free zone as per your needs are as follows:

  1. Free Zone Company (FZC)
  2. Free Zone Establishment (FZE),
  3. Branch office of a foreign entity, or
  4. Branch office of a resident company.

Procedure for setting up business

  1. Determine business activity for your company. You can choose from three activities: commercial, industrial and professional.
  2. Register a trading name for your company. Follow settled rules and standardized boundaries while choosing a trading name. Do a background check and make sure not to copy any existing trade name.
  3. Complete legal work for your company with assistance from the best lawyer in the Emirate.
  4. Arrange your documents and submit your application to the authority of the Free Zone. Hire an experienced lawyer to arrange the documents for you.
  5. Get your business license after submitting all the documents on RAKEZ Portal.

After following the above-stated steps, apply for visa and get going with your business model to reach your goals! It is pointed out by the top lawyers of UAE that RAK FTZ has 8000 registered companies owned by people from across the globe, which is proof of high returns in this area.

RAK free zone has four types of low-cost free trade zone parks namely, Business Park, Industrial Park, Technology Park, and Academic Park, you can choose as per the nature of your business.

Conclusion
RAK Free Zone is a dream destination for making money! Just go by the procedure, and you are good to rule the business world! BSB Legal Consultants will assist in setting up your company in the Free zone, Mainland or Offshore, wherever you wish for. Our top corporate lawyers in UAE help you take all the critical decisions with ease. For consultation contacts us at info@bsb.legal or call us at +97150 8014003.

How to set up business in Fujairah Free Zone in UAE?

If you are considering Fujairah Free Zone as one of your business set-up and investment destination, then let me tell you, you are going in the right direction! The free zones in this Emirate not only have unlimited business opportunities for you but also the process of setting up a business is very smooth, quick and cost-effective when you follow the right steps. Be it, investors, entrepreneurs or start-ups, there is much more to explore for everybody!


Why Fujairah Free Zone?

  1. Near to port of Fujairah, therefore quick access to seaports and airports.
  2. Flexible legislation, apt for your business model.
  3. Access to global markets and a range of Arabian Gulf Ports, best strategic location!
  4. Perfect for exporting and importing.
  5. No annual audit is required.
  6. Full investment security.
  7. Developed free zones for smooth business set-up.
  8. Immense investment fields.
  9. Physical presence is not mandatory.

Our top lawyers of UAE have laid down the following steps for setting up business in the Fujairah Free Zone:

  1. Specify your business activity: Before setting up your business, one has to decide what business activities will be performed for trade in the future.
  2. Decide your company name or trade name, subject to certain limitations stipulated in applicable rules and regulations.
  3. According to the nature of your business and business activities involved, obtain the required trade licences. Documents required for the same are as follows:
    • ID proof and address of shareholders and directors;
    • Copies of passports of directors and shareholders;
    • MOA and AOA of the company,
    • Trade name-confirmation copy;
    • To know the exhaustive list of documents, consult a business lawyer. Normal Trading License, General Trading License, Professional License, Industrial or National Industrial License, Warehousing License, and Consultancy or Service License can be obtained as per your business needs;
  4. Register your business and open a bank account;
  5. Documents for setting up the company must be signed by the shareholders;
  6. Apply for visas.

It is advised to contact the best corporate lawyer of the Emirate before setting up your business in Fujairah Free Zone.

List of free zones in Fujairah:

  1. Fujairah Free Zone (FFZ)
  2. Fujairah Creative City Free Zone (FCC-FZ)
  3. International Free Zone Authority (IFZA)

Conclusion:
Fujairah offers unique connectivity, 100% expatriate ownership and a business-friendly environment, if you are planning to set up your business in Fujairah Free Zone, BSB Legal Consultants will be happy to help you. We have a team of experienced lawyers of UAE who will orient you in every step of business-building. Contact us at info@bsb.legal or call us at +97150 8014003.

How to set up a company in Jebel Ali Free Zone (JAFZA)?

Jabel Ali Free Zone (popularly known as JAFZA) is one of the most popular free zones of the country with a significant 24% contribution in the FDI. Since it offers best global connectivity for the companies, It is a home for thousands of companies, manufacturers and traders. It is not only considered as a tax friendly destination but also facilitates low operational cost.

In this article, we are going to discuss how to set up a company in Jabel Ali Free Zone with the help of our best company lawyers of UAE.


Setting up a professional service company
For company formation, it is essential to follow some steps, which are discussed below

  1. Register a trade name
    For company formation in JAFZA, the first step is to choose a trade name for the company to distinguish it from other business entities. The name of the company is registered with the Economic Department of the Emirates. For deciding the name, you can take the help of company formation lawyers and company formation law firms that have specialized expertise in the area.However, it is suggested by top lawyers of Dubai to keep in mind some restrictions while choosing the name of the company. The name shouldn't be offensive; the words referring to Allah, religious groups, political groups, etc should be strictly avoided. Further, the name shouldn't be identical or resemble any existing company.
  2. Take initial approval
    For proceeding ahead in company formation in JAFZA, it is essential to take the approval of the government so that it doesn't have any problem with the setting up of a professional company.The top lawyers of Dubai have suggested that for a foreign investor, it is essential to obtain the approval of the General Directorate of Residency and Foreigners.
  3. Memorandum of Association (MOA) and local service agent
    The MOA is the constitution of the company containing all the essential information about its objective, functioning, share capital, etc. For drafting MOA, you should approach the best company formation lawyers. It is also essential to appoint a local service agent. While drafting the agreement, it is essential to comply with all the applicable legal requirements. The MOA must be attested through a notarized public or the court.
  4. Submit documents and get a business license
    The last step in the company formation in JAFZA is getting the trade license from the Economic department.  For getting a license, the following documents should be submitted before the department-
  5. Receipt of the initial approval from the government;
  6. Copy of the lease contract duly attested by the Real Estate Regulatory Agency (RERA) in Dubai;
  7. Attested Memorandum of Association and Service Agent Contract.

You need to make a payment within 30 days of receiving the payment voucher to get the license. In case of failure, your application may be canceled.

In short
The company formation in JAFZA is a quick, convenient, and transparent process if you're as well-versed with the process. BSB Legal is the best law firm of Dubai with top lawyers engaging in company formation, drafting documents, and obtaining necessary approvals. To register your company with BSB Legal, contact us below.

How to form a company in DMCC Free Zone

Located in the heart of Dubai, Dubai Multi Commodity Center (DMCC) is one of the fast growing freezones of the country. DMCC was established in the year 2002 offering licenses for three kinds of activities: trading, industrial, and services. Some of the notable benefits offered by DMCC includes, complete business ownership, full capita repatriation, zero taxes and much more. Considering the benefits, every investor is lured with the idea of setting up a company thereon.

In this article, we are going to discuss how to incorporate a company in this prominent free zone of Dubai Emirates with the help of our best company lawyers of UAE.


Setting up a company in DMCC
For company formation, it is essential to follow some steps, which are discussed below

  1. Register a trade name
    For company formation in DMCC, the first step is to choose a trade name for the company to distinguish it from other business entities. The name of the company is registered with the Economic Department of the Emirates. For deciding the name, you can take the help of company formation lawyers and company formation law firms that have specialized expertise in the area.However, it is suggested by top lawyers of Dubai to keep in mind some restrictions while choosing the name of the company. The name shouldn't be offensive; the words referring to Allah, religious groups, political groups, etc should be strictly avoided. Further, the name shouldn't be identical or resemble any existing company.
  2. Take initial approval
    For proceeding ahead in company formation in DMCC, it is essential to take the approval of the government so that it doesn't have any problem with the setting up of a professional company.The top lawyers of Dubai have suggested that for a foreign investor, it is essential to obtain the approval of the General Directorate of Residency and Foreigners.
  3. Memorandum of Association (MOA) and local service agent
    The MOA is the constitution of the company containing all the essential information about its objective, functioning, share capital, etc. For drafting MOA, you should approach the best company formation lawyers. It is also essential to appoint a local service agent. While drafting the agreement, it is essential to comply with all the applicable legal requirements. The MOA must be attested through a notarized public or the court.
  4. Submit documents and get a business license
    The last step in the company formation in DMCC is getting the trade license from the Economic department.  For getting a license, the following documents should be submitted before the department-
    • Receipt of the initial approval from the government;
    • Copy of the lease contract duly attested by the Real Estate Regulatory Agency (RERA) in Dubai;
    • Attested Memorandum of Association and Service Agent Contract.

    You need to make a payment within 30 days of receiving the payment voucher to get the license. In case of failure, your application may be canceled.

In short
The company formation in DMCC is a quick, convenient, and transparent process if you're as well-versed with the process. BSB Legal is the best law firm of Dubai with top lawyers engaging in company formation, drafting documents, and obtaining necessary approvals.

To know more information, kindly contact one of our best employment lawyers in UAE. You can email us at info@bsb.legal or call +971508014003.

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