For instance, the Dubai Multi Commodities Centre (DMCC) caters for companies trading in commodities, including gold and silver. Dubai Outsource encourages investments in the tech industry. Dubai Maritime City was the first free zone promoting eCommerce in the UAE. Dubai International Financial Centre (DIFC) focuses on banking, insurance and the other components of the financial services industry, such as Fintech. Dubai also has general-purpose free zones, like the International Free Zone Authority (IFZA).
Free zone licences are available for a wide range of other sectors as well. In total, the laws governing which business activities companies with full Foreign Ownership can engage with list more than 1,000 individual business types. These need to be slotted into the correct free zone to avoid conflicts between the laws. With guidance from expert company formation consultants in Dubai like GBO, it is easy to get the right choices made from the very beginning.
What kinds of companies can operate in Dubai free zones?
In the free zones in Dubai, an independent free zone authority implements regulations for the companies and issues the licences. The main choices are:
- A Free Zone establishment with a single individual shareholder.
- A Free Zone company with two or more shareholders.
- A branch of a foreign or UAE-based company that will carry out the same business activities as the parent.
What are the choices for business licenses?
The business licence is the most crucial choice that must be made before opening a new company in any Dubai free zone. To make the right choice, you should use an experienced Dubai management consultancy. The most common trade licences available in most of the free zones in Dubai are:
- General Trading
But because most free zones are set up with specific focuses, they also provide certain exclusive licenses based on the specializations.
Consult with our specialists at GBO, providers of the best business consultancy services in Dubai. We can supply you with a list of all licenses issued by each free zone authority.
How much does it cost to set up a company in Dubai?
The cost of setting up a new free zone company in Dubai depends on the choices you make. Each individual free zone has set its own costs for registration and licensing, but it’s not advisable to simply opt for the cheapest zone if the trade model does not match your business requirements. For example, overall the new business setup in Dubai is issued by Dubai Silicon Oasis (part of IFZA), but if your business model is not focussed on IT, then this could end up being the wrong choice for your company.
What is the best location for a business setup in Dubai?
It is essential to match the free zone’s business focus with your own company’s business model. Each free zone is located in one of the tower clusters that have been allocated for free trade.
Can a foreigner set up a company in Dubai?
The population of Dubai consists mainly of expatriate foreigners, and many of them already have set up their own business. Dubai promotes investment by overseas business owners, with promotional solid features, strong tax advantages and many options for free-trade. Let GBO, the best business setup consultants in Dubai, lead you through the required steps to set up a new company in the right Dubai Free Zone.