Entrepreneurs and international investors are often interested in establishing a company in the United Arab Emirates. Whether it’s a start-up company or a big corporation expanding its operations, everyone prefers Dubai as a location to do business. And, after all, why not? You will benefit from everything, including better business infrastructure, visibility for startups, legal assistance from the UAE Government, hassle-free company licencing, and so on. Dubai is best described by words such as “luxury” and “opulence.” Despite this, there is one term that many people do not connect with Dubai: “cheap.” Because Dubai has the lowest free zones in the United Arab Emirates, company owners and new-age investors may discover cost-effective commercial settings in the city.
In the United Arab Emirates, there are more than 30 inexpensive free zones that cater to a variety of commercial operations. You are free to choose the one that best meets your company’s requirements. Each free zone has its own set of laws and authority that regulates the conduct of your company activities in that particular free zone. To choose a free zone, you must first evaluate your company’s needs in terms of money, geography, and other factors.
However, the Dubai International Financial Centre (DIFC) needs to be mentioned separately since it is one of the most affordable free zones in the world.
Dubai International Financial Center (DIFC) is a financial centre located in Dubai, United Arab Emirates (DIFC)
The Dubai International Financial Center (DIFC) is a major financial business centre for a variety of companies, including fintech, lifestyle, and others. It is one of the world’s top ten onshore financial hubs, according to the World Bank.
The presence of a common-law framework is one of the most notable features of this free zone. The DFSA (Dubai Financial Services Authority) is an autonomous regulator in the area, and the DIFC Courts are a distinct legal system from the rest of the country.
When you locate your company in the DIFC, you will enjoy a number of advantages, including:
Free trade zone geared at the banking sector (there are only two financial free zones in Emirates)
The company is owned entirely by foreigners.
In order to conduct cross-border operations, a solid legal framework is required.
There are no restrictions on capital repatriation.
Employee income is exempt from taxation.
The common law court system is based on the English language.
The Dubai International Financial Center (DIFC) is home to more than 2,000 businesses. As a result, the area has evolved into a financial ecosystem in which a broad range of institutions communicate, plan, and grow alongside one another.
Starting a financial company in a variety of industries such as investment banking, brokerage services, fund management, financial consulting, and so on may be quite rewarding.
Aside from banking, the Dubai International Financial Center (DIFC) is a hub for companies in the leisure industry. Saloons, gyms, coffee shops, and restaurants are just a few of the businesses that thrive and flourish in the Dubai International Financial Centre.
Apart from DIFC, here is a list of the cheapest free zones in the United Arab Emirates that you should keep a watch on:
1. Dubai Silicon Oasis (Dubai Silicon Valley) (DSO)
DSO is considered to be the epicentre of cutting-edge technology and development in the UAE. It is a free zone that offers job opportunities as well as residential facilities for its employees. In Dubai Silicon Oasis, you’ll discover a slew of IT giants, telecommunications firms, and other businesses.
Although technology is the apparent draw in this free zone, you’ll also find legal companies, consulting organisations, and other types of enterprises here as well.
The following are the advantages of establishing a company in Dubai Silicon Oasis:
Import/export taxes, income taxes, and corporation taxes are all exempt from this tax.
Tier 3 data centre and sophisticated IT infrastructure located close to Dubai International Airport, Jebel Ali Port, and Port Rashid are available.
2. The Free Zone of Jebel Ali (JAFZA)
It is the oldest free zone in the United Arab Emirates. Furthermore, the JAFZA is one of the world’s biggest free zones, ranking in the top ten. Companies in the logistics, commodities trading, and shipping industries could not ask for a better free zone than JAFZA in which to conduct their operations in the United Arab Emirates.
The free zone provides six different kinds of business permits, allowing you to start and grow the company of your dreams. In the JAFZA, you may start a manufacturing, trade, development, and service-related company, among other things.
So, here are some of the advantages of establishing a company in the Jebel Ali Free Zone:
Zero tax and charges in the vicinity of the Jebel Ali Seaport and the Al Maktoum International Airport
In the MENA (Middle East and North Africa) area, Dubai Media City is the third most prominent corporate community (DMC)
It is Dubai Media City that you should visit if you are planning to start a media company from scratch. In addition to being a worldwide media centre, Dubai is home to world-class infrastructure that makes it easier for businesses to operate in and out of the city.
DMC is one of the most affordable and finest free zones in the United Arab Emirates, and it has rapidly developed into a worldwide media centre. It is home to a variety of companies, including event management, advertising, and news media, among others.
As a result, the following are the advantages of establishing a company in Dubai Media City:
The company is owned entirely by foreigners.
Customs duty is exempted from payment (goods and services)
Visa assistance is available 24 hours a day, seven days a week.
4. Dubai Healthcare City is located in Dubai, United Arab Emirates (DHC)
DHC is the world’s first medical-free zone, and it is located in the United States. The industries that predominate in this free zone include premier healthcare institutions and clinics, pharmaceutical education, medical equipment trade, and other related activities. It is under the supervision of the DHCA (Dubai Healthcare City Authority).
A large number of luxury 5-star hotels, villas, and residential apartments are also available in the area. As a result, everyone associated with DHC strives to elevate the organisation to the position of worldwide leader in healthcare.
The following are the advantages of establishing a company in Dubai Healthcare City:
Foreign ownership is free from all taxes and customs duties to the fullest extent possible.
Administrative support from DHCA 5. Sharjah Media City is located in the United Arab Emirates (SHAMS)
AED 5,750 will get you started with a company setup package at Sharjah Media City (commonly known as SHAMS). A professional media licence as well as one of the 13 activities on the list are included in the package. Additional activities would need a fee of AED 1,000 per activity to be added.
The following are examples of media activities:
Digital marketing is a kind of marketing that is conducted online.
Programming and advisory services
Production of mass media
Web site dedicated to photography
The study of the market
Graphic design, fashion design, and interior design are all examples of what we do.
Services in the field of translation
The media licence is best suited for new entrepreneurs, UAE citizens, and current business owners since it does not involve any visas as part of the company creation package.