Useful article on why becoming an entrepreneur in UAE and setting up your business in a UAE or Dubai Free zone is recommended!
To some of you, it might just be another article to read through. There are, however, quite a few readers who are about to make a decision if to be an Entrepreneur. Especially if you consider to be an entrepreneur in UAE and owning your business setup. Setting up a business in UAE can be at times challenging if you do not have the right information of how company formation works. From the many options to choose from including free zones like JAFZA, RAK, SHAMS and over the loads more found in this article, it can become tricky if you do not have the right business setup provider and consultant.
Entrepreneurship isn’t for everyone, but if you are looking to generate income with a limitless freedom than being an entrepreneur can give you an incredible lifestyle experience. You got to be your own boss!
Here are seven reasons why you should consider spending your hours on something that’s yours.
You set your own schedule
In spite of the fact that entrepreneurship can frequently require extending periods of time, the advantage of building a business is that you are accountable for choosing when you want to work. Especially if you look at the business opportunities in UAE, you would be seeing more and more start-ups in Dubai rising up the ladder. Rather than the tedious 9-5 set-up, you’re ready to have more autonomy and flexibility with your own Business setup in UAE. It isn’t so much that you are doing less work, yet rather that you’re ready to pick when you want to work keeping in mind the end goal to oblige different activities throughout your life.
You believe in what you do
Working in the business enterprise is inspiring. Rather than being a machine gear piece in the wheel for a Goliath, various leveled company, you can see your thoughts have any kind of effect and add to the development of a fresh out of the box new business. UAE welcomes innovative ideas and is an ideal platform if you consider doing business in UAE. Many companies consider starting up their companies in a free zone in UAE because of the flexibility it has to offer.
Your workplace can vary
Try not to hope to dependably be working from inside an office while working for or making your own start-up. Business people and other start-up founders frequently telecommute or while going, rather than inside an office. The capacity to quit working continually in an office is an awesome approach to have the capability to encounter an adjustment in view and separate the dreariness of continually working in a similar space.
You’re the boss
You have a vast level of organization and control in what’s going on when you’re beginning your own particular organization. You get the opportunity to construct a group, choose where the organization is going, and give orders. This is particularly noticeable where in UAE doing business gives you more freedom.
You get to see your work change lives
Some portion of what a business visionary does is take care of issues. They make something more proficient, give a superior administration or fabricate an innovative item that helps people in their regular day to day existences. Whatever it is that entrepreneurs are attempting to offer, it’s intended to change and enhance lives (and turn a benefit).
You become a business leader
Having the capacity to perceive how your business has added to the neighborhood economy and gave occupations is incredibly fulfilling. Your part as a business pioneer in your community is critical and respectable. You can just imagine how benefitting this becomes in UAE.
Some portion of what makes business enterprise so charming is that it’s both dynamic and energizing. The organization is developing and adjusting continually, keeping everybody on their toes.
If you have already by now decided that entrepreneurship is for you, make sure you’re prepared. You don’t want to turn your dream into a nightmare. It is all about getting started in the right way.
From setting up your business to the entire legal procedure to make things happen on the ground you need to decide first the place – the Where? Below, I have given an ideal solution which has been so far preferred by many of my entrepreneurial clients who are looking for more liberty in their business.
Free zone company formation in Dubai & UAE
What is a free zone?
Free Zones are geographic areas within a country where goods, services, and commodities may be traded without the intervention of stringent customs regulations. In most Free Zones, companies are taxed minimally or sometimes even fully exempted, to encourage economic activity.
The free zone is an idea that was created to help the advancement, development, and improvement of the organizations. Numerous nations have comparative models and this idea is outstanding in the universal business group. The United Arab Emirates had set up Free Zones with a specific end goal to draw in organizations that managed in the exchange and fare. Up until now, this model has been to a great degree fruitful at its motivation.
The Free Zones functioning in the U.A.E.
Free Zones in the U.A.E. were proposed as worldwide business center points for organizations leading business outside the U.A.E., since they are not authorized to work inside whatever remains of the U.A.E. In spite of the fact that amid the underlying stage, the vast majority of the free zone organizations were included in import and export, now most organizations lead business inside the U.A.E. and GCC through local distributors.
Making a business element in one of U.A.E.’s Free Zones is an alluring alternative for remote financial specialists, as Free Zones encourage business activities and pull in organizations hoping to set up new companies rapidly and effortlessly. The Free Zone areas in U.A.E. have geographically recognized segments and follow laws and controls endlessly unique in relation to the laws that administer organizations inside the U.A.E. Organizations working inside the Free Zones are considered as remote organizations or organizations functioning outside the U.A.E.
Each Free Zone in the U.A.E. is a different element with its own Free Zone Authority that oversees, handles enrollment and issues licenses inside the Free Zone. Although Free Zones differ across the Emirates, the fundamental standards remain the same.
U.A.E. Free Zones offer speculators and business start-ups huge motivating forces for setting up their offices in the free zones.
Benefits of Free Zones in the U.A.E.
- 100% ownership without the aid of U.A.E. sponsor
- Exemption from personal income tax and capital gain tax
- Full repatriation of capital and profits from business
- Minimal Import/Export duty
- Zero percent corporate tax
- No restriction on currency movements
- Single window clearances for administrative services
- Faster licensing and business set-up
- Stable and transparent laws and regulations
- Full-fledged infrastructure with efficient communication system
- Low start-up and operational cost
- No visa restrictions for recruitment with liberal labor laws
- Access to pool of skilled professionals
- Pre-built structures- offices, factories, warehouses
- Business support services with fast and efficient operations at the touch of a button
- Additional services such as sponsorship, on-site housing, and labor assistance
- Modern IT infrastructure with multi-tiered data center
- Easy access to air, rail and road transport systems
- Attractive working environment
- 24/7 operational ability
- Ready consumer market across MENA and Asia regions
List of Free Zones in the U.A.E.
- Abu Dhabi Airport Free Zone (ADAFZ)
- Abu Dhabi Global Market (ADGM)
- Higher Corporation for Specialized Economic Zones (HCSEZ)
- Industrial City of Abu Dhabi (ICAD 1 and 2)
- Khalifa Industrial Zone Abu Dhabi (KIZAD)
- Khalifa Port and Industrial Zone (KPIZ)
- twofour54 (Two Four Fifty Four / 54) media and production free zone
List of Freezone Company Formation in Dubai
- Dubai Airport Free Zone (DAFZ)
- Dubai Car and Automotive City Free Zone (DUCAMZ)
- Dubai Flower Center Free Zone
- Dubai Gold and Diamond Park
- Dubai Health Care City (DHCC)
- Dubai Industrial City (DIC)
- Dubai International Financial Centre (DIFC)
- Dubai Internet City (DIC)
- Dubai Knowledge Village (KV) (DKV)
- Dubai Media City
- Dubai Multi Commodities Centre (DMCC)
- Dubai Gold and Commodities Exchange (DGCX) – part of DMCC.
- Dubai Silicon Oasis
- Dubai Technology and Media Free Zone (TECOM) – includes DIC, DMC, DKV.
- Economic Zones World (EZW) – includes Techno Park, Dubai Auto Zone, Jafza International, JAFZ.
- Jebel Ali Free Zone (JAFZ)
- Hamriyah Free Zone
- Sharjah Airport International Free Zone (SAIF)
- Ajman Airport Free Zone (AAFZ)
- Ajman Free Zone (AFZ)
- Ajman Free Zone Authority (AFZA)
UMM AL QUWAIN
- Ahmed Bin Rashid Free Zone (ABRFZ)
RAS AL KHAIMAH
- RAK Free Trade Zone (RAKFTZ or RAK FTZ)
- RAK Investment Authority Free Zone (RAKIA FZ)
- Ras Al Khaimah Media Free Zone (RAKMFZ)
- Fujairah Free Zone (FFZ)
- Fujairah Creative City
If you would like to receive more information, then please feel free to contact us on firstname.lastname@example.org .We would be glad to assist you in your company formation in a UAE Freezone, kickstart your business setup in free zone UAE and help you begin your journey to entrepreneurship.
About the author
Shanavas Ameerkannu is the Managing Director of ADAM Global Dubai Branch. With over 20+ years of experience in legal and corporate advisory, he has helped over 10,000 foreign business and entrepreneurs to incorporate their business in UAE. He can be directly reached on email on email@example.com or via Watsapp on +971 50 9110516