The world has been sinking further into the economic crisis. However, investments in Dubai have been doing considerably well. The meydan free zone has been a prime example of investment and business in Dubai thriving despite the world facing adversity. The free zone has enhanced its total business significantly in the past few years. It would be pertinent to mention here that you could increase your business by investing your time and effort in the free zone.
The spectacular growth in Dubai has allured numerous businesses looking forward to setting up a base in the region, specifically in Dubai. They could make the most of numerous benefits inclusive of complete ownership. It would only be guaranteed in the event the company would set up a free zone. It would not require any local partner in the free zone. The government would also support them with numerous offers and tax-free benefits.
What do you understand by a free zone?
A free zone would be defined as a piece of land or area with special customs, imports, and tax rules. It would be worth mentioning here that these special investment models would enable numerous businesses without hassles. However, various established laws of the respective nation should govern these businesses.
Numerous free zones have been established in Dubai. If you were looking forward to choosing the one suitable to meet your needs, consider making your decision based on the type of activity your respective company has been undertaking. It would range from automotive, publishing, broadcasting, e-commerce, trading, and more. The list is endless. However, you would be required to choose a suitable free zone to meet your specific needs.
Consider warehousing and seaport access as the type of services and infrastructure to look for. It would not be wrong to suggest that Dubai has the latest and updated infrastructure. You would enjoy a modern infrastructure in Dubai. It would also cater to you with special cities for various kinds of activities inclusive of Health care City, Media City, Internet City, and more.
How to register in a free zone
You would require specific documentation to register in a free zone. The documentation should be notarized in their respective nations. It would be inclusive of passport copies, financial background, business plan, resumes of your managing staff, and application form.
Benefits of conducting business in a free zone
You might wonder about the benefits of doing business in a free zone. Rest assured that such businesses would be inclusive of the following –
- 100% foreign ownership
- 100% repatriation of profits and capitals
- 100% tax exemptions
- No foreign exchange controls
- Renewable residence visas for three years
These would be only a few vital benefits you could enjoy when working in a free zone.