Setting up a company in Abu Dhabi and Dubai and the other parts of UAE can be an intricate job for expats. Over the past few years a lot of Free Zones have opened up to assist freelancers, consultants and small businesses to obtain a license to run here in the UAE. Regardless of the advantages of Free Zones, there are lots of vital factors to be aware of. When thinking about company UAE Freezone Company Formation in the diverse Free Zones across Abu Dhabi and Dubai, make sure to ask the following questions.
What are the key costs when establishing a company in a Free Zone?
Often Free Zones state that you can set up for a very low fee, but the truth is there are a number of compulsory charges, which shortly add up.
Within any Free Zone there are five major costs to think about;
- Trade Name Reservation • Registration • Trade License • Office Rental • Visas and other ancillary costs
These can be further classified into unique fees and yearly costs. Though the registration charges are quite low, once all the other charges are included in, it is tough to establish in any Freezone for less than 30,000 AED.
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What are the benefits to establishing a company in a Free Zone?
There are several advantages to set up a company in a Free Zone, including:-
- 100% foreign possession • 100% repatriation of assets and profits • 100% corporate and personal income tax exemptions • Exemption from all import and export duties (but you cannot import into mainland UAE)
There are also some added advantages of doing business within a Free Zone. Most of UAE Freezone Company Formation organize regular training and networking measures which are typically free to attend. Many meeting spaces are available to hire privately for a fee, and most people will persuade members to share business chances within that Free Zone.