How Many Freezones In Uae?
- Anthony Watkins
Explore – The United Arab Emirates (UAE) provides investors with more than 40 diverse free zones, in which they can take full ownership of firms. These zones are distinguished by their highly effective infrastructure and different services that support seamless processes. As a result, businesses are able to save a significant amount of time and effort in these zones.
How many Freezones are there in Dubai?
Free-trade zones in Dubai, also known as FTZs, are special economic zones that were established with the intention of providing tax breaks and reductions in the amount of customs duty that must be paid to foreign investors. In Dubai, there are about 30 different free trade zones that are operational.
- FTZs in Dubai and the United Arab Emirates are controlled by a unique set of laws and regulations that have been put in place.
- Businesses that are owned by foreign nationals can get business permits from a Free Zone Authority.
- Each Free Zone is based on one or more industrial groups, and it only grants licenses (such as those needed to operate as a Free Zone Enterprise, or FZE) to businesses that fall within the scope of those industries.
Investors who are interested in establishing their own companies can get licenses to engage in commerce, services, and manufacturing in the majority of Dubai’s free zones.
What is a Freezone in UAE?
What exactly is an open area? – Free zones are physically delimited regions inside the UAE (even if the majority of them do not have fences or gates), which allow for one hundred percent foreign ownership and are, in most cases, devoted to a particular sector of the economy.
- They were developed to provide assistance for strategic change in important industries (for example, finance), and a large number of them were established with public funding and boast facilities that are on the cutting edge of technology.
- In the emirate of Dubai, for instance, there is a free zone known as Dubai Media City that caters to the requirements of the media business by providing infrastructure and licenses designed specifically for the sector.
In a similar vein, the Dubai International Financial Centre (DIFC – see below) is a magnet for businesses operating in the financial services industry. It draws in insurance companies, financial services and investment firms, as well as banks that are looking to expand their clientele on a global scale.
Can I resign after 6 months in UAE?
4. At what point does the duration of a limited contract come to an end? – There are a few different circumstances that might lead to the termination of a limited contract. The most typical scenario involves the contract being terminated due to its natural expiration.
It is going to be contingent on the dates that are outlined in the agreement. One of the key distinctions between a limited contract and an unlimited contract is that the latter kind of arrangement does include a termination clause. In the event that the period is not extended by the employer, the contract will be considered to have reached its conclusion.
To put an end to the employment connection, the employer is obligated to pay the departing employee any remaining compensation as well as the gratuity for their time of service. In addition to this, the employment contract can be terminated if both the employer and the employee agree to do so willingly.
- Within the remaining amount of time, and presuming that all conditions imposed by the law have been met.
- Before breaking a contract, it is highly recommended that you schedule a consultation with a lawyer to receive legal guidance.
- Many people question, “may I quit after 6 months under a limited contract in the UAE?” even when the contract has not yet reached its natural expiration date.
The response to that question is yes. You are free to choose when you will quit and to carry out the necessary actions. When you quit from your job, you are required to give notice, with the exception of situations in which your employer violated one or more of the 2022 UAE Labour Laws.
What is the difference between Freezone and LLC in UAE?
How are you going to determine which business setup services you need to sign up for? – Organization of Ownership A freezone license allows for complete ownership by foreign investors. During the process of forming a company, it is not necessary for investors to create a partnership with a citizen of the UAE.
It is required that a United Arab Emirates national be present within an LLC in either the capacity of a local partner or as a local service agent. When it comes to commercial and industrial licensing, a local partner has 51% of the shares, while an expat partner owns 49% of the shares. When it comes to professional licenses, a foreign partner can control one hundred percent of the shares in the company, but a UAE native must serve as the local service agent.
The Breadth of the Enterprise The authorities in charge of a freezone will always have their own set of rules and restrictions. It is a limitation that is commonly imposed on corporate organizations that they are only permitted to operate inside the boundaries of their particular freezone.
Typically, this criterion is used to business licenses. Those with valid professional licenses are still free to provide their services to customers in the immediate area. LLCs are unrestricted in their ability to engage in direct commerce with the local market, any free zone, or anywhere outside of the UAE.
This is applicable to all business licenses as well as professional licenses. Room for Office Use The incorporation of a freezone license is possible with or without the presence of a physical office. At least five hours each week, employees are permitted to work at flexi desks or smart offices instead of traditional workstations.
- There is a plethora of office space available at the Business Bay, Media City, and JLT business areas.
- To qualify for an LLC license, a business must have an office space that is at least 200 square feet and be rented out on an annual basis.
- During the application process, you will need to provide the Department of Economic Development (DED) with the certified tenancy contract.
After then, and only then, will the DED grant the license for the LLC. Visas Eligibility Entities inside a freezone are only eligible for a set number of visas. In most cases, they are permitted one to six bundles of visas. If a corporation need more than that, they will be required to rent a physical facility within their particular freezone.
- The Ministry of Labor (MOL) provides limited liability companies with an electronic quota that determines whether or not they are eligible for visas.
- The quota is determined by the total square footage of the office.
- One visa is allotted for every 80 square feet of office space, and this number may be extended by expanding one’s business.
Businesses have the option of submitting a separate quota request for any employees who are not physically present in the workplace. Approbations from Higher-Ups The authorities in charge of a particular freezone are responsible for its administration.
- You will need to provide the required documentation to the appropriate departments in order to receive the permissions that are necessary.
- In most cases, approvals from external authorities are not required; nonetheless, there are some activities that do necessitate them.
- Standard permissions from authorities like the Department of Economic Development (DED), the Ministry of Labor (MOL), and the Ministry of Immigration (MOI), among others, are necessary in order to get a license for a limited liability company (LLC The documentation could be different depending on whether the shareholder is an individual or a corporation.
It is occasionally necessary to get approvals from various outside agencies. For instance, the Knowledge and Human Development Authority’s stamp of approval is required for permits dealing with educational matters (KHDA).
How many designated zones are there in UAE?
Listed below are the UAE’s Designated Zones. According to Cabinet Decision No. (59) of 2017 on Designated Zones for the purposes of Federal Decree-Law No. (8) of 2017 on Value Added Tax, a total of 20 Zones have been proclaimed as Designated Zones. This was done in accordance with the aforementioned decision.
Is international city a Freezone?
3. Other Dubai Free Zones – Dubai Silicon Oasis has gained a lot of popularity in recent years as a result of the fact that it contains both residential and business property. These free trade zones in Dubai deal with a wide array of businesses, ranging from health care and manufacturing to the fabrication of gold and jewelry: Authority of the Jebel Ali Free Zone (JAFZA) Free Zone Authority of Dubai International Airport (DAFZA) The Authority of Dubai’s Silicon Oasis Dubai Municipality and Health Services Authority City of Humanitarian Cooperation International The World Trade Center in Dubai Gold and Diamond Park, managed by the Dubai Maritime City Authority Dubai Dubai International Financial Centre is located in South Dubai’s Outsource City.
Is Emirates a Freezone company?
Emirates Group Security is responsible for risk management and security. Emirates Group Security is an agency that is in charge of implementing and maintaining various safety precautions across the Emirates network. All passengers and freight terminal users in Dubai, as well as corporate facilities and personnel accommodations, are included in its scope.
- Theft, document fraud, misappropriation, and any other violations of security that are committed against the interests of the firm or its clients are also investigated by Emirates Group Security.
- Group from Transguard The Middle Eastern security services business Transguard Group has more than 38,000 full-time workers and a yearly revenue that exceeds AED600 million.
The company also has a total annual turnover of more than AED600 million. It is also one of the major operators in the region in terms of airport services, business support services, facility management, cash management, security technology, training, and event management.
- Established in 2001 as a support service provider for the several businesses that are run by the Emirates Group, the company’s name comes from the year it was founded.
- The cash management division of the firm is run out of the company’s headquarters in Dubai’s Airport Freezone, which also serves as the location of the largest cash processing facility in the area.
In addition, a facility in Abu Dhabi has only recently been built up.
How much is free zone visa in Dubai?
How much does it cost to get a visa to enter Dubai’s free zone? The cost of a visa to enter a free zone in Dubai is roughly 5,000 AED; however, this sum may differ depending on the free zone you choose to apply for the visa via. Additional visas, such as those for your workers, dependants, and domestic staff, require an additional cost, which is typically in the area of AED 3,000 to AED 6,000.
What is Freezone Visa?
Rules and Regulations: The most frequent sort of resident visa that may be obtained in free zones is one that requires the applicant to have a work contract with a free zone enterprise. This particular category of UAE residency visa is good for a maximum of three years.
- Employment visas and investment visas both make obtaining residency in Dubai possible for business owners who have their sights set on founding a firm in the emirate.
- Additionally, the investor visa is good for a period of three years.
- The owners of an employment visa, an investment visa, or both are eligible to apply for a dependent residence visa for their family members.
Visas for the free zone can be acquired directly from the Immigration Department (GDRFA), and it is not necessary to make contact with the Ministry of Labour in order to do so. This makes the procedure very straightforward, however those who are granted these visas are prohibited from working in areas that are not designated as free zones.
How can I check Freezone company in Dubai?
Remember that the question you should be asking yourself is, “Is this company legitimate?” – Swindlers have been successful in deceiving quite a few people in the past, and the last thing any of us wants is for anybody else to fall prey to their schemes.
Verifying the legitimacy of a company is an important preventative measure that is very necessary to do in order to steer clear of cons or suspicious offers that appear to be “too good to be true.” Companies that are operating illegally will not think twice about committing crimes and then vanishing without a trace.
To begin, business owners have the ability to do their own company verification. Using the fundamental details they already possess on the firm with whom they intend to conduct business, business owners can: You should phone the firm, and if the office location has been provided to you in any of your interactions, you should feel free to go to the office on your own.
- The additional procedures that must be followed in order to guarantee that a company is registered in the UAE.
- To begin, in order for a corporation to legally conduct business in this nation, it must first get a trade license.
- You have the option of either requesting that they provide you a copy of it or checking it online with the DED (Department of Economic Development).
Please be aware that trade licenses are not considered private papers because they are required to be openly displayed in any business office or retail establishment. Access to this document, as well as the ability to request a copy of it, is considered a public right.
- Keep in mind that the majority of businesses that are operating illegally will give you a registration number that is not valid.
- This may be readily checked, and doing so can assist you avoid entering into a business arrangement that is difficult to manage and yields little profits.
- Keep in mind that you do not need to have the skills of Inspector Gadget in order to determine whether or not a corporation exists.
For the sake of your own safety, you have access to a number of different approaches, each one of which can stand alone or be combined with others. Here are a few actions you may take to verify the facts about a business: You can ask for a copy of their company license, as was just indicated above, and then verify immediately on government websites to see if the license has been registered or not.
- If you wish to start a business with a partner who is situated in Dubai, then he should be able to produce all of the essential documentation on his own.
- If you have any degree of hesitation, you should be on high alert right away.
- In point of fact, there is no sensitive information contained inside a trade license.
The only information that you will discover is the name of the manager, the address of the company’s office, the registration number, and the license number. If someone is unwilling to provide it to you, it indicates that the legitimacy of their firm is in question.
If the company is registered in one of the UAE Free Zones, it is possible that you will not be able to verify the license online. Your sole choice is to send an email to the registrar, in which you should state the name of the firm and inquire as to whether or not the business is in fact registered and whether or not the license is current (and not cancelled).
You may also seek a Certificate of Good Standing from the local registration authority by visiting their offices in person. Another option is to go to the register in person, which is another means to access the registry. In most cases, possession of a Certificate of Good Standing demonstrates that all required reports and fees have been paid to the relevant authorities.
This document provides as proof or evidence that the entity in question is permitted to conduct business in the Emirates and that it does in fact exist; Verifying a company may also be done through its usage of social media. Check to see if the firm has a presence on the internet. You may, for instance, look to see whether they have any professional accounts on Instagram or Facebook.
Checking to see whether any of their employees have profiles on online networking sites like LinkedIn is yet another option. Try searching for the firm on Google and looking for information on internet forums and reviews. There is a good probability that you will find information about the firm’s involvement in any frauds or illegal actions on the internet.
- If the company has been involved in any of these, you should look for it.
- You may check on governmental portals as well as portals for free zones to ensure that the firm you are doing business with is genuine and authorized to conduct business in the relevant jurisdiction.
- For this purpose, one can get information about a company license through a variety of different methods and platforms.
These include the websites of each emirate’s Department of Economic Development (DED), as well as the National Economic Register. We are providing you with some helpful websites that will allow you to check on your own whether a particular firm is registered in the nation or not.
You may check the following by using either the name of the firm or the license number: If you are working with a local firm in the UAE, you may verify their legitimacy by visiting the websites of the respective emirates’ DEDs. You may check online at this page for information about Dubai companies: CLINK ON THIS LINK, then select the “Search License Information” option.
You may go to these places for Sharjah: Visit SEDD. AE and click on “Search for License.” For Abu Dhabi, you may go to ADBC. GOV. AE. If the only piece of information you have is the name of the firm, you can visit the website of the National Economic Register to determine whether or not the business in question actually exists.
Check out this website for further information: CBLS. ECONOMY. GOV. AE Checking directly on the website for the Free Zone will give you access to the Company Directory, which has a list of all businesses that are licensed to operate in the Free Zone. This directory may be accessed by going to the Free Zone website.
The following is a list of some of the major Free Zones’ Company Directories: DWC Free Zone D3 Free Zone DIFC Free Zone DIC Free Zone DMC Free Zone DMCC Free Zone AMCFZ Free Zone It’s called the Fujairah Creative City FZ. Fujairah Free Zone HFZA Free Zone SAIF ZONE SHAMS Free Zone ADGM Free Zone Before becoming involved in a business venture, make sure you take all of these preventative steps beforehand.
What is a Freezone area in Dubai?
Where exactly do free zones exist? Free zones, also known as free trade zones, are essentially business zones in Dubai that are exempt from all forms of taxes, including the Value Added Tax (VAT), Income Tax, Corporate Tax, and Customs. Companies that operate in these zones are allowed to operate tax-free.
Is Business Bay Dubai a Freezone?
Business Bay, which is located in Dubai, is the city’s primary financial and commercial sector. Business Bay is an idea that was conceived by the Dubai Government as part of its aim to transform Dubai into the world’s preeminent business hub. The establishment of Mainland Business in Business Bay indicates exceptional company growth opportunities and conveys many opportunities to diversify business modules in order to incorporate small and medium-sized businesses as well as huge corporations within this business area.
- Business Bay in Dubai has been the primary contributor to an improvement in the flow of economic activity and provides a well-developed environment for conducting business.
- This spectacular region of Dubai is also active in the retail and entertainment industries respectively.
- Business Bay in Dubai is spread out across a land area of 46.9 million square feet and primarily caters to firms involved in the real estate industry, along with enterprises involved in professional services and commercial trade.
One further quality of Business Bay is that it is located in a part of Dubai that caters not only to the commercial sector but also to the leisure and residential sectors, so exemplifying the urban way of life that is prevalent in Dubai. In addition, Business Bay provides a notable position due to its proximity to the Dubai International Financial Center (DIFC).
- In addition to the mainland business setup, Business Bay also offers freehold areas and freezones as alternative business environments.
- One of the most prominent areas in Dubai for the establishment of new businesses is known as Business Bay.
- There are several business towers in Business Bay, and many of the most successful corporations in the world are located there.
Get in touch with the Start any Business team if you are interested in learning more about Business Bay (SAB). Because we are the most reputable business setup consultants in Dubai, our organization is able to comprehend the requirements of our customers.
Is Dubai a free city?
Characteristics of the city Dubai is known as a city of skyscrapers, ports, and beaches, and it is a popular destination for sun-seeking tourists in addition to being a hub for international commerce. It has the sense of a Middle Eastern melting pot, and the environment is typically accepting because of the enormous number of people who have moved there from other countries.
There is not a significant emphasis placed on one’s religious membership in city life. Even though Islam is the predominant religion in Dubai, the city is also home to Christian churches and Hindu temples. Dubai is a place that has a low crime rate overall, and its administrative effectiveness and openness to commerce have contributed to the city’s phenomenal growth.
Critique of Dubai’s authoritarian government and the governing class, on the other hand, is not permitted, and the city continues to maintain a culture of covert corruption.
Is Dubai Internet City a free zone?
Business establishment in Dubai City of the Internet – Your new business endeavor will receive support from our staff, which will analyze the possibilities of the market. We provide the greatest advice service to investors who wish to start up their businesses in the Emirates, whether onshore or offshore.
- Our goal is to provide clear direction and assistance in the right way.
- UAE Free Zones is a professional corporation that focuses on the area and has worldwide presence; the scope of services that they provide encompasses all elements of conducting business in the UAE.
- When it comes to the procedure of establishing a new company in the UAE, our group of highly trained and experienced experts is able to provide assistance and guidance to you.
Get in touch with us to receive a free first consultation!