Amongst the various countries of the world, the UAE is one of the most lucrative places for business setup opportunities. The country with its emirates like Sharjah and Dubai is well known for its potential for expansion. Various business entities find company registration in the UAE as an easy-to-follow procedure. Forming free zones in the UAE has led to an added benefit for entrepreneurs globally.
Foreign investors can find investing in the free zone area of the UAE a viable business opportunity. However, choosing the right free zone is the most crucial choice. With more than 45 free zones across the country, SPC Free Zone can assist you in making that choice.
So, if you are looking forward to establishing a free zone company in the UAE, read on. In this blog, we will explore,
- What is a free zone?
- Advantages of company setup in the free zone
- How much does a free zone company in the UAE cost?
- How can SPCFZ help?
What is a Free Zone?
The UAE free zones are determined geographical locations where the mainland taxes of the UAE, employment and import-export restrictions on businesses do not apply. However, these areas’ bureaucratic requirements are also low, making them a desired destination for foreign investors.
Starting a business entity within the UAE’s free zone can seem attractive for foreign investors, but choosing the free zone that is ideal for you requires deep knowledge of the market.
While contemplating establishing a business in the free zone, the first step would be determining the type of legal entity the business would be. The second question is How much does a free zone company in the UAE cost? In a free zone, two types of companies can be established.
Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
Free Zone Establishment (FZE)
The differences between the two types of companies are in the number of shareholders and whether the shareholder is a natural person or legal. All free zones across the UAE may not support the registration of both companies.
One would need to check in with their free zone authority about the type of company they can register. In deciding the legal entity for your free zone business, it is an ideal choice to choose the trade name as well.
In most cases, one should check in with their respective free zone authority or about the permitted trade name and whether the intended name has already been registered.
In general, the requirements for approval of a proposed trade name include the following;
- The trade name should not violate any public morals or public order in the country.
- The name should follow the company’s legal form—for example, an LLC or FZE.
- The trade name should be unique; in essence, it should not have been taken by any other company beforehand.
- It should be compatible with the required type of activity performance and legal status.
- The name should not contain any profanity or religious or governing authority name.
These were designed to strategically transform key industries to boast the UAE’s state-of-the-art facilities. A free zone permits 100% foreign ownership for investors and, in most cases, is dedicated towards a specific industry.
Each free zone has requirements concerning minimum capital requirements, offices, warehouse spacing and permitted activities. Each free zone requires a relevant license and adequate legislation that would enable dedication towards a specific industry to flourish.
Benefits of a free zone company setup
There are certain benefits associated with establishing a company in the free zone. Some of the most common ones are as follows;
- 100% foreign ownership of a business in the area
- Access to a world-class logistic facility in the UAE
- The availability of a larger pool of multicultural individuals who are skilled professionals
- Benefit from the industry that the free zone corresponds towards
- Ease in recruiting international employees since all free zones provide a one-stop-shop service for work visas
- The availability of tax holidays – usually guaranteed for 15 or 50 years
- Tax exemption in terms of import and export that is 100%
- Capital and profit repatriation that is 100%
- Corporate tax exemption for more than 50 years
- Eligibility to apply for UAE Tax Residency Certificate
Free zone company in UAE costs setup with SPCFZ
The free trade zone in Sharjah is unlike any other. Sharjah has been dubbed UNESCO’s cultural capital of the Arab world since the year 1998. The emirate’s borders meet at the coastlines of two separate industrial innovations. The naturally diverse and modern society of Sharjah has an unmatched infrastructure.
With a diversified environment waiting to be explored, At SPC Free Zone, we understand all that you may need. The business setup packages we offer to set up a company are unmatched. In a hassle-free manner, establish a successful business today by choosing from the different packages that SPCFZ offers.
Our setup packages have been divided into publishing, standard, entrepreneur, entrepreneur premium, entrepreneur premium pro and entrepreneur premium elite. Starting from 5,750 only, the publishing package includes various services for your business like obtaining a business license, memorandum of association (MOA), lease agreement and more!
With entrepreneur elite, you can set up a company with SPC Free Zone for AED 17,750 only. The service includes up to 5 shareholders in business with up to 3 business license activities, one investor visa and e-channel registration.
Why Choose Spc Free Zone?
At SPC Free Zone, we offer support for business activities in Sharjah, from business planning to professional license acquisition; SPC Free Zone assists entrepreneurs at every step. You can have everything from marketing plans to licenses and permits easily. Register a company in the free zone today with the assistance of SPC Free Zone.
SPC Free Zone can assist you if you plan to register your business in Sharjah. We provide entrepreneurs opportunities like obtaining dual licenses for mainland and free zones. Our packages are highly cost-effective and start from AED 5,750.
With our flexible business packages, entrepreneurs can explore various options associated with establishing a business in the UAE. You can also take advantage of up to 100 visa quotas and maximize profits with zero paid-up share capital, 0% corporate
and personal income tax, and 100% foreign ownership.
SPC Free Zone also provides an e-commerce and general trading license for all commercial activities. We aim to give business owners the tools and knowledge about free zone company in the UAE cost and why they should prefer SPC so they need to navigate their way.
SPC Free Zone is here to help with your business setup in the UAE!