Around 20 years ago, the government of Dubai started establishing free trade zone within the country. The basic aim of these free zones was to bring about a transformation in the economic structure of the country. One of the first free zones to have been established by the government was that of the Jebel Ali Free Trade Zone. It was established in Dubai in the year 1985. It was basically established due to the government’s interest in increasing foreign investments in the Emirate.
With the passage of time, the establishment of these jurisdictions has played a significant role in bringing in foreign investors to the country. On the whole, establishing a business in the UAE does not come easy due to the countless requirements and rules and regulations. The benefits of establishing a business in the free zone are plenty. Not only do the business owners get to enjoy complete ownership of their business, they also benefit from tax advantages and the least amount of regulatory constraints. So if you are interested in establishing an LLC company in Dubai, then it is highly recommended for you to do so in a free zone.
A few of the most well-known free zones in the UAE are Dubai Internet City, Jebel Ali Free Zone, Dubai Airport Free Zone, Dubai Media City, International Humanitarian City, Dubai Silicon Oasis, Dubai Outsource Zone and Dubai Logistics City etc. The segregations that can be set up here include branch offices, free zone establishments and free zone companies.
If truth be told, the establishment of these free zones has played a significant role in helping the UAE become such an important business hub. There are a number of benefits that you can reap by establishing your business in a free zone. To begin with, a Fujairah free zone company setup will make it possible for you to reserve complete ownership of your business. What this means is that there will not be a need for you to find a local sponsor. Apart from that, companies operating from within the free zone can operate freely and there are no restrictions on their movement as well. Most importantly, such businesses also get to acquire benefits associated with customs, taxes and currency control etc. There are also no restrictions whatsoever on the number of activities that they are part of. On top of it all, the entire procedure is rather simple and you can get your company established rather quickly.