Free Zone Company Formation

Free Zones are special economic zones set up with the objective of offering tax free, and free customs duty benefits to expatriate investors. Free zones are designed for boosting international business by providing complete ownership to the foreign investors. Free Zones in Dubai and the UAE are governed pursuant to a special framework of rules and regulations applicable to concerned free zone. Free zones in UAE are managed and operated by different free zone authorities.

These free zones operate outside the Federal Law or Laws of Ministry of Labor. However, for all legal reasons a freezone company is still considered a company domiciled in UAE or a UAE company.

Free Zone entities may trade, import/export with entities within the free zone or outside UAE. Free zone entities may buy from UAE, but in case they need to sell goods to the main land of UAE they have to employ the services of a distributor or agent in the mainland.

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Each free zone is managed by separate Independent Free Zone Authority, and these authorities are responsible for issuing business permits and licenses, employee visa and regulating the business requirements. Each free zone has their own independent rules and regulations. There are more than 20 free zones in UAE.

Most of the free zones in Dubai broadly offer trading, service, industrial, national industrial, and branch licenses to investors looking to set up their businesses. In UAE, free zones are either attached to a port or specific industries.

In free zones, you can set up different types of companies based on your requirements as mentioned below.

Free Zone Establishment (FZE) – Single shareholder
Free Zone Company (FZC) – Two or more shareholders
Branch Company – Branch of local company or branch of foreign company

Benefits of UAE Free Zones

100% Foreign ownership
100% Repatriation of capital and profits
No Personal income taxes
Exemption from Customs duties
No Foreign currency restrictions
No Labor restrictions
Residency visas are allowed
Can have flexible offices or can rent or own offices
Shared services and synergies with other companies
State of the art infrastructure

ABOUT US

Dominic & Partners is headquartered in Dubai, UAE with branches in Abu Dhabi, Sharjah and Ras Al Khaimah. We are licensed by the Ministry of Economy, UAE as the government approved auditors and we are a registered Tax Agency of UAE Federal Tax Authority. We are registered agents of all the offshore authorities and are approved by all the freezones and mainland jurisdictions and financial institutions in the country.

With a cumilative experience of over 2 decades in the region , we have played a pivotal role in the Accounting, Tax, Advisory and Audit & Assurance industry by serving over thousands of entities at various junctures.