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Business consultancy FAQ

Business consultancy FAQ

What are the ideal business activities for a Free Zone company?

The ideal business activities for a Free Zone company include import and export, technology and IT services, consulting, manufacturing, e-commerce, media and creative industries, healthcare and pharmaceuticals, financial services, and logistics. Each Free Zone is tailored to specific industries, offering specialized infrastructure and benefits aligned with these activities.

What are the advantages of setting up a business in a Free Zone compared to a Mainland company in the UAE?

Setting up a business in a Free Zone offers several distinct advantages over Mainland company formation. These benefits include full repatriation of profits, allowing complete transfer of earnings out of the UAE. Additionally, Free Zone companies enjoy various tax exemptions, including no corporate or personal income taxes, and often benefit from simplified and faster setup processes.

What are the documents Required for Company Formation in the UAE

For Individual Shareholders

 

  1. Completed Application Form
  2. Passport Copy
  3. Visa Copy
  4. Proof of Address
  5. No Objection Certificate (NOC)
  6. Photograph
  7. Business Plan
  8. Memorandum of Association (MOA)
  9. Articles of Association (AOA)
  10. Lease Agreement (if applicable)

 

For Corporate Shareholders

 

  1. Completed Application Form
  2. Certificate of Incorporation
  3. Board Resolution
  4. Passport Copies (of directors and authorized signatories)
  5. Proof of Address
  6. Legal Representative’s Power of Attorney
  7. Business Plan
  8. Memorandum of Association (MOA)
  9. Articles of Association (AOA)
  10. Lease Agreement (if applicable)
  11. Auditor’s Certificate (if required)
What are the benefits of choosing a mainland business setup ?

Mainland businesses have the flexibility to trade anywhere in the UAE and can bid for government contracts. They also have no restrictions on the number of visas they can apply for, depending on the size of the office space.

Can I switch from a freezone to a mainland setup later?

Yes, it is possible to convert a freezone company to a mainland setup, but the process involves certain legal procedures, and specific requirements must be met, such as obtaining approvals and licenses.

What are the cost involved in setting up a business in mainland or freezone?

Costs vary depending on the location, business activity, and other factors. Mainland setup costs might include license fees, local sponsor fees, and office rental costs. Freezone setups generally include license packages, office space costs, and visa fees.

What type of license are available for mainland and freezone businesses?

Mainland businesses can obtain commercial, industrial, and professional licenses. Freezone licenses typically include trading, service, industrial, and specific types related to the freezone’s focus (e.g., media, logistics).

What advantage do freezone companies offer ?

Freezone companies benefit from 100% foreign ownership, full repatriation of profits, and exemption from import/export taxes. They also have streamlined processes for setting up and lower operating costs.

Can an Offshore company do business within the UAE?
  • No, an Offshore company is not permitted to do business within the UAE. It can only conduct international business activities.
How do a business choose the right Freezone for the business?
  • The choice of Freezone depends on your business activity, target market, proximity to ports/airports, and the specific benefits each Freezone offers. Consulting with a business setup expert can help determine the best fit.
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