What is the Cheapest Free Zone in UAE?
The UAE is currently ranked 16th on the World Bank’s Ease of Doing Business Index Report 2020. According to the report, UAE has an Ease of Doing Business score of 80.9 out of 100. Kudos to the UAE government for launching numerous initiatives that supports the ease of doing business to facilitate global investors to relocate their business in the country. And so, in this article we will be discussing some of the cheapest free zone in UAE and what are the benefits included in each free zone.
What is a Free Zone?
First off, for anyone coming from a foreign country you will surely ask this question. So basically, Free Zone is a special economic locale in the UAE wherein companies can be set up at preferential tax and customs rates. Each free zone has its own set of laws and package offerings. The main objective of free zones is to boost foreign business by providing several benefits such as the following:
- 100% Foreign ownership
- Corporate & personal tax exemptions
- Easy & quick setup process
- Import & export duties exemption
- Wide array of business activity options
Now, with over 40 free zones in the UAE wherein many of them are categorized based on business activities, it is vital to know your business requirements at the same time choosing the cheapest free zone in UAE.
Top 3 Cheapest Free Zone in UAE
Ras Al Khaimah Free Zone (RAKEZ)
RAKEZ, currently, is home to more than 15k companies under more than 50 sectors. It is strategically located in the heart of Ras Al Khaimah, UAE and offers customizable business setup solutions to investors from all over the world. Established in 2017, RAKEZ offers free zone formation that provides clients easy access to the evolving Middle East & North Africa markets. It is considered as the investment destination of choice by investors from across the globe.
With its simplified business setup process, fast track visa application, license issuance and excellent business support services, investors are ensured to experience absolute ease of doing business. Businesses can effectively collaborate and grow at a cost-effective ecosystem.
International Free Zone Authority (IFZA)
Considered as one of the most popular free zones in the UAE, IFZA is set to become an investment hub in the country. IFZA free zone packages offer competitive pricing with flexible workspace options such as, flexi desks, private offices and office suites. The jurisdiction’s business activities are decided by the Dubai Department of Economic Development wherein you can choose up to 7 activities under one license.
What’s more attractive is that investors can easily obtain its business license and register their companies without having to travel to the UAE. Therefore, expand your operations in the UAE and explore a wide array of possibilities with world-class infrastructure and business- and tax-friendly environment.
Dubai South Free Zone
Dubai South Free Zone or formerly known as Dubai World Central Free Zone/Dubai Logistics City Free Zone, is your go-to-free zone when it comes to competitive pricing. A business setup solution package starts at 8,500 AED. If you’re business in the field of logistics, aviation and ancilliary, then you definitely should choose this jurisdiction. This 145 square kilometers city is situated near Al Maktoum International Airport. Their in-class customer service is what makes them a gem in an haystack, offering individuals, business owners and investors a full range of managed and virtual services to make everyday business operations smoother and easier while focusing on growing their business.
Key Takeaway
Nowadays, business setup in UAE is much easier, especially as the government policies are more dynamic and evolving. However, searching for the cheapest free zone license in Dubai requires prior knowledge of free zones and the license application process. For long-term profits and growth, it’s time to entrust your business incorporation duties with Skwer Group’s business setup consultants.
