Top Free Zones in Dubai, UAE To Start Business
Dubai is quickly emerging as Western Asia’s financial hub. In addition to hosting an ever-increasing amount of companies and industry leaders from around the world, Dubai has developed into a rich environment for start-ups and small companies looking for a welcoming business culture. Therefore, if you are looking for business opportunities, the free zones in Dubai can be a great alternative. In this article, we will be discussing business setup in free zones in UAE. If you are thinking about establishing a business, the best place to begin is with free zone company formation. Free zones are jurisdictions that will help your business and keep your entrepreneurial path on track. Let us see: 1. Do you know the advantages of establishing in a free zone Dubai? As an investor or an entrepreneur, opening free zone company in Dubai is a good location to start. UAE free zone authorities provide profitable transactions, world-class infrastructure, a luxurious lifestyle, and simple business setup methods. Consequently, you can guarantee that your business journey is on the proper track by establishing a firm in a free zone. Setting up a business in free zones in Dubai, United Arab Emirates, has a number of benefits, including: Completely foreign ownership. No income, business, or personal taxes. Return of all capital and profits. Locations that offer strategic advantages. Straightforward and quick setup. Outstanding infrastructure. Duty-free imports and exports in all respects. By 100% corporate ownership, free trade zones in the UAE assist the government in promoting foreign companies in the region. Also, Free Zones are meant to reduce many of the challenges associated with establishing a company in Dubai. Now, let us see a list of freezone companies in Dubai! 2. Know the best free zones in Dubai, UAE to start a business Here, you will see the best free zones in Dubai where you can start your business. Let us observe the following Dubai free zone company list: 2.1 Dubai Multi Commodities Center Freezone (DMCC) One of the most prominent free zones in the UAE, DMCC, has made a name for itself. As a result, it is acknowledged as the top free zone in the world. The DMCC has also made a significant contribution to the growth of commerce and trade in Dubai; making it a prime sector to enter and launch a company in the UAE. In addition, the DMCC free zone welcomes practically all business activities and provides a variety of office options. A single DMCC license can support up to six commercial operations belonging to the same group. The DMCC free zone is one of only two free zones that permits dealing in crypto commodities, and the license it issues is not just restricted to industrial, service, or general trade. One further appealing feature of the DMCC free zone is that it is one of the few free trade zones that let free zone companies in Dubai owners get a dual license. Therefore, businesses can expand to the mainland or onshore thanks to dual licensure. Subsequently, entrepreneurs must get DMCC and mainland licenses in order to be qualified for a dual license. 2.2 Jebel Ali Free Zone Authority (JAFZA) JAFZA is known as the principal free zone of Dubai Ports World. It is crucial to the DP World UAE region’s integrated business hub. The Jebel Ali Free Zone Authority is among the UAE’s oldest free zones and was established in 1985. It is advantageously located near to Jebel Ali Sea Port, the world’s seventh-largest cargo port. As a result, it is the best free zone for exports and imports because of this. JAFZA has set guidelines that other free zones can imitate over the years. This is because of its innovative positioning and modern working practices. The jurisdiction also has ISO certification and permits business module diversity. The JAFZA grants a variety of licenses, including those for e-commerce, industrial services, businesses, and trading. Consequently, JAFZA is a great free zone for global free zone companies in Dubai due to its appeal and expansion. 2.3 International Free Zone Authority (IFZA) One of the most desirable free trade zones in the United Arab Emirates is the International Free Zone Authority. This is due to the free zone’s quick popularity as one of the most financially advantageous free zones in Dubai; despite it being one of the newest ones. The free zone is centrally positioned and offers a very affordable setup procedure. As a result, it is one of the free zones with the greatest potential for expansion and business prospects. IFZA also offers investors and owners a wide variety of licenses and permits. These Dubai trade licenses include those for consulting, services, online commerce, business, and trade. The lack of a requirement for a real office location while forming a company in the IFZA is a desirable advantage. This is advantageous for business owners who want to launch an online venture because, unlike in other countries, they will not need to have a physical location. 2.4 Fujairah Creative City Free Zone One of the Dubai technology and media free zone in the MENA region with the quickest growth is Fujairah Creative City. It provides numerous adaptable alternatives for the formation of company entities. Also, the ease of establishing a business there contributes to its popularity growth. It is not only very affordable, but it also ranks as one of the select free zones with the least number of paperwork and effort requirements. Entrepreneurs can carry out a broad spectrum of business operations in Creative City in Fujairah. These initiatives primarily target the media, events, consulting, educational, advertising, and other sectors of the economy. Also, it is one of the few freezones that allows business owners to create a virtual office; allowing them the flexibility to work anywhere. An advantage is that the company can be established without the investor or employees needing visas. It additionally provides affordable options for individuals who require visas. The fact that business owners in Fujairah Creative City can apply for 20 visas under
E-commerce license in Dubai, UAE 2023 | Cost and requirement
Currently, the e-commerce license in Dubai is being highly requested by entrepreneurs. This is because thanks to the COVID-19 pandemic, the inhabitants of the UAE are making traditional purchases, instead of online. That is why many entrepreneurs have decided to change their businesses to e-commerce. In this article, you will see all the information you need about the e-commerce license in Dubai. The first thing will be to show you a list of the reasons why e-commerce has grown so much in the UAE. Therefore, we will show you everything you need to do to obtain this document. In addition, you will see the cost of this license and the types you can opt for. 1. What are the reasons why e-commerce has become so popular in 2023? The rapid advancement that the UAE has had in the international market makes it a good place to start a business in 2023. In addition, its growth in e-commerce is the fastest in the Middle East and North Africa. This is due to the evolution of technology, which has allowed the growth of online business UAE Due to the huge growth of e-commerce in the UAE, many people rank it as the best place to start their business. However, it is important to be aware of the challenges of doing business in the UAE, even online. Later in the article, you will see how to start an online business in UAE The Dubai e-commerce city is a great point of reference for this type of electronic market. In addition, boosting e-commerce throughout the UAE helps boost the entire economy in general. Below you can see the reasons why the country is a great power for electronic commerce: 1.1 The high digital introduction As digital begins to become the future of the UAE, you can see the growth of e-commerce. The introduction of mobile telephony is currently at a world record. Furthermore, UAE residents are among the top 10 countries that spend time using the internet and social media. As the world becomes increasingly connected, consumer confidence in online shopping is evolving. Thanks to this, it is expected to see significant growth in the coming years in these sectors. 1.2 Digital natives Digital natives are those people who were born between 1981 and 1996, and the growing zeta generation comprises between 1997 and 2012. Digital natives are always connected and looking for solutions almost instantly. We can expect the desire for fast and convenient shopping experiences to further accelerate the acceptance of online purchases. 1.3 The growth of the use of mobile wallets One of the deep introductions of smartphones, it is a foundation for adopting mobile wallets. This is because the use of mobile wallets in the UAE has increased considerably. With just a simple touch of their smartphone and even their smartwatch, residents can make payments at supermarkets, taxis, cinemas, hotels, and many more. 1.4 The intention of the government For this growth, very proactive government policies have been decisive in building the current digital culture. In this way, many barriers were eliminated to become a cash-free society. Both digital commerce and cashless payments were identified as government priorities in the UAE vision 2021. The government has been in charge of implementing a series of initiatives to support it, such as the salary protection system. In addition, we can find that having a government without cash and, that is agile and digital, are part of the Smart Dubai 2021 initiatives. 1.5 You can trust digital payments According to a recent security survey, consumers’ perception of digital payments was examined. Showing that 66% of the people surveyed say they trust online purchases. In addition, 70% say they trust online payments. This greatly increases the possibilities for merchants, financial institutions, and even consumers themselves. It is therefore of the utmost importance that consumer confidence continues to be built. Constantly improving the infrastructure of online payments, so that consumers can reap the benefits of making purchases more secure and hassle-free. 2. Learn all the steps you must follow to obtain the e-commerce license in Dubai If a person decides to start a digital business, the first thing they should think about is the business they want to do. For this, it is good to start an investigation about which are the best business opportunities that exist in Dubai. Currently, with all the economic growth that the United Arab Emirates has presented, there can be many business ideas that prove effective. With this clear, you can start the process to obtain the e-commerce license in Dubai. Next, you will see the different steps that you must follow. The first thing you should do is choose a legal structure. The second step is to choose a business location. Subsequently, you must register the trade name of the company. You must present and fill in the application form for the e-commerce license in Dubai. You have to apply for and submit the application for the certificate of initial approval. Draft the Partnership Memorandum. Depending on the type of license, you must rent an office. If you need to import and export, you must register with the port and customs authorities. Look for the license granted by the Department of Economic Development (DED). Finally, you must open a corporate bank account. The best option is to go to one of the international banks in Dubai. 3. How much does it cost to get an e-commerce license in Dubai? To acquire an e-commerce license in Dubai you must pay different fees. These will depend on whether the employer wishes to opt for a professional or commercial activity. Despite this, some expenses are common regardless of the commercial activity, which will be mentioned below. A registration must be made with the DED and that involves a fee. Rental of workspace or an office. The sponsorship fee for a citizen partner in the UAE. Investor visa. The cost of the immigration card. Tariffs for the seal of the company. All
