For the list of the Free Zones in the United Arab Emirates please see the comparative table below.
Consisting of 7 emirates, the UAE is one of the largest economic hubs of the Middle East. Those considering setting up a company in the UAE should keep in mind that they can do it in one of the United Arab Emirates’ special FZs. They should also be mindful of the fact that they will be provided with comprehensive support on the part of the UAE government.
Today, more than half of the country’s income (or 69%) is generated in the oil sector. The second most profitable sector is banking. There are no taxes on income, therefore, obtaining a business license in UAE is an absolute must for entrepreneurs seeking to multiply their capital. Please note that renewing a license costs $5,000 a year.
The total number of Free Zones or Free Economic Zones is 46.
Both residents and non-residents can open a company in the UAE. The advantages of opening a company in the UAE include:
- intersection of the main trade routes of Europe and Asia;
- modern international airports & seaports;
- independent legislation, prices and conditions for doing business in each of the FZs;
- no taxes and customs duties;
- possibility to remotely register a company in the UAE.
- investor-friendly tax system;
- investor-friendly legislation;
- confidentiality of financial information;
- no currency controls;
- support of government agencies
Please note that registering a company in the UAE requires one to live in the country for 3 years. You should also keep in mind that establishing a business in the Emirates entitles you to a UAE resident visa.
Registering a company in the United Arab Emirates requires filing an application on the day of concluding a contact. Opening an account with a local or foreign bank in the UAE takes 2 weeks.
The main requirements for opening a company in the UAE are:
- having a staff of 2 to 50 people;
- having a minimum starting capital of $82,000.
Registering a company in the UAE requires having at least 1 shareholder/director. The cost of opening a company in the Emirates is $2,000. Having a share capital is optional.
Establishing a company in the UAE requires obtaining a license for a chosen type of activity. Using foreign capital for opening an Arab company is permitted.
Non-residents seeking to register a company in the United Arab Emirates can do it in 5 different ways, namely:
- a going concern;
- a branch;
- an enterprise in a Free Zone;
- a local company;
- an intermediary company.
Looking for advice on the remote registration of a company in the UAE? Need assistance with opening a bank account in the UAE? Why not contact YB Case?