Free Zone
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Welcome to GrowthZone
Freezone Company Formation in the UAE
Forming an LLC company in the UAE’s mainland follows a systematic process comprising interconnected steps. By grasping the fundamentals, you gain a clear understanding of the overall process, ensuring smooth navigation. Explore more about LLC company formation in the UAE for a comprehensive view.
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Frequently Asked Questions
What is a free zone company?
Economic zones where products and services can be traded are known as free zones. These areas are often referred to as free trade zones or free zone authorities. Free trade zones have 0% tax rates, advantageous customs duty rates, and 100% exemption from import and export taxes.
Free zones are especially popular among businesses that value their privacy. This is due to the fact that there is 100% foreign ownership and no open directory of business facts. Due to 100% foreign ownership, important company information such as shareholder details are never made public.
Free zones are especially popular among businesses that value their privacy. This is due to the fact that there is 100% foreign ownership and no open directory of business facts. Due to 100% foreign ownership, important company information such as shareholder details are never made public.
Can I own 100% ownership of my business in the UAE?
Yes, you may own your company completely. The UAE Government revised the federal Commercial Companies Law, allowing foreign investors to acquire full ownership of enterprises. This means that foreign investors' shares will no longer be limited to a maximum of 49%, but can now be up to 100%.
What is the minimum share capital required to form a company in a Free Zone?
The volume of share capital required is largely dependent on the kind of license and firm, however each share must be in the denomination of AED 1000. For certain types of licenses and business activities, the amount of needed share capital might range from AED 1,000 to AED 1,000,000. A firm must have a minimum of AED 1 million in share capital in order to be granted a General Trading Licence.
Can I open a bank account for my business with a free zone license and any limitations?
It is normally easy to open a bank account for a corporate body in a Dubai free zone. Nevertheless, depending on the bank and the free zone in where the firm is registered, the process and conditions for creating a bank account may differ.
Is it allowed to do international business with a free zone business license?
Free zone licensees are permitted to import products or equipment from a foreign country into the free zone without paying customs charges.
What tax benefits will I get from setting up my business in a Free Zone?
There are many benefits to setting up in a Free Zone, and most notable is the tax benefits. Start your company in a free zone to benefit from 0% corporate and personal tax, as well as VAT exemption for your industry. VAT is now fixed at 5% and applies to all products and services in Dubai and its environs. Profit and capital are completely repatriated in free zones.
Should I pay VAT (Value Added Tax) if I setup my business in a free zone?
VAT is levied on tax-registered firms operating on the UAE mainland as well as in free zones. Nevertheless, if the UAE Cabinet designates a specific free zone as a 'designated zone,' it must be taxed as being outside the UAE. Goods transferred between authorized zones are tax-free.
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Testimonials
What Our Customers Say?
More than 99% customer satisfaction is our success.
The fact that I have been able to achieve most of my goals is due to the tireless efforts of Ms. Jasmine. She has been of the greatest help to us in terms of introducing the rules and regulations as well as saving money and energy. I would like to express my deepest gratitude to her.
I learned about GrowthZone's CEO Jasmine through a friend who lives in Dubai. She is a very powerful advisor for me, who knows nothing about Dubai. Everything was completed smoothly with detailed support from company establishment to opening a corporate bank account. I can confidently leave all tax matters after the incorporation to them. I am very satisfied with GrowthZone's services. I highly recommend them if you are considering incorporation in Dubai.
Giles and his team at Herrington Business Consulting have been absolutely great to work with and they definitely have gone above and beyond for us by streamlining all of our accounts so that we can focus.
Giles and his team at Herrington Business Consulting have been absolutely great to work with and they definitely have gone above and beyond for us by streamlining all of our accounts so that we can focus.
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