Establishing a business requires some serious due diligence, which includes - among many other aspects - deciding on the appropriate location, a location which assists the business in obtaining competitive advantages and easy access to the market and targeted customers.
Dubai has become one of the main business hubs in the region if not the world, and it possesses many attributes that placed the city among the most sought after locations for business functioning in all kinds of fields.
In addition to the high vibrant, active and energetic business environment that Dubai have successfully created, the city established a number of Free Zone areas allowing businesses and firms to have smooth establishment through easy and straight forward registration and licensing procedures.
Free Zones are identified as designated areas in which companies are taxed very lightly or, in case of Dubai, not at all in order to encourage economic activities in the city, and in which, foreigners have the right to fully own businesses without the need of a local sponsorship.
Some of the Free Zones in Dubai include:
- International Media Production Zone (iMPZ): The first Free Zone in the region dedicated to media production activities.
- Dubai International Academic City (DIAC): An area for international schools and universities and all kinds of the other educational institutions.
- Dubai Internet City (DIC): An area designated for information technology firms.
- Dubai Media City (DMC): a regional hub for media organizations including news agencies, publishing, online media, advertising, production, and broadcast facilities.
- Dubai International Financial Centre (DIFC): The DIFC is an independent jurisdiction under the UAE Constitution, with its own independent civil and commercial laws that default to English law.
- Jebel Ali Free Zone (Jafza): an area of standard size office units and warehouses to provide ready built facilities to customers.
Free Zones offer unique opportunities to companies working in all kinds of business areas, and in the city of Dubai, there is an added advantage of having specialized Free Zones where companies working in the same field can function closely, making it easier for them to attract targeted customers.
The facilities and services offered in Free Zones in Dubai assists the companies to focus on their core business activities, without having to worry about wasting time and recourses on performing tasks that are required in other areas of the city.
Whilst Free Zone company setup is a fairly costly affair (relative to the UK or US), the tax benefits far outweigh this cost in most cases.
Ben Simmons is a Dubai business consultant, specializing in Free Zone company setup, licensing and operational legalities in the UAE. Learn more about Ben @ https://plus.google.com/104401981576859901536/about.
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