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Benefits when incorporating your company at Dubai and UAE Free Economic Zone

Michalaki, Pitsillidou Law Firm > English Articles  > Benefits when incorporating your company at Dubai and UAE Free Economic Zone

Benefits when incorporating your company at Dubai and UAE Free Economic Zone

One of the attractive destinations for investment purposes investors and entrepreneurs should definitely consider Dubai, the most cosmopolitan and developed city in the Middle East and North African Countries. Dubai and UAE created FEZ (Free Economic Zone) with the purpose to facilitate the cooperation between other countries and United Arab Emirates and to attract foreign investments in the country. There are more than 30 free industrial zones and it is very important to take into consideration your business activity type and all the specific requirement for each zone before choosing appropriate one for registration of your business. Free economic zone model was first found in Dubai which created the convenient base for conducting business with numerous investment advantages as 100% ownership of a subsidiary and full tax exemption. Dubai free zones offer a number of significant advantages:

  • 100% foreign owned;
  • 100% exemption from all taxes/duties;
  • 100% ownership in free zones;
  • No capital gains taxes;
  • Free withdrawals;
  • There are no restrictions on minimum share capital;
  • No obligation to submit annual accounts;
  • No VAT;
  • Anonymity and confidentiality;
  • Simple registration process;
  • Easy access to the countries of the entire Persian Gulf and world markets;

 

Important to state that the due to transparency of the operation and registration processes, UAE zone has immaculate reputation and there are usually no additional questions from the international banks and financial control authorities. The following features important to state in regards to companies to be registered in UAE zone:

  • No need to have an office in UAE;
  • You can not conduct activities in the UAE;
  • It is impossible to obtain the status of resident of the UAE;
  • You can appoint a resident/non-resident as a Director or shareholder;
  • No personal presence of the shareholder/Director is required during the establishment
  • process;
  • The company may own real estate in the UAE with the permission of the authority
  • (RAK Investment Authority);
  • You can have accounts and deposits in the UAE or any other jurisdictions;
  • It is impossible to conduct banking or insurance activities without obtaining the appropriate
  • license
  • No requirements for the preparation of financial statements (audit);
  • The company may own shares of companies in the UAE or any other country in the world;
  • Registration process within 48 hours.

 

If you are interested to get more insights about starting your company in Dubai, contact our lawyers or email Michalaki, Pitsillidou & Co LLC Lawyers Legal Consultants, at info@impklawyers.com .Tel. +357 99345000 – Fax +357 25 660097

 

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