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Free zones in the UAE are economic zones with special rules for doing business. They are not applicable outside the zone. Their popularity is easily explained by the opportunity for 100% foreign ownership of the company, combining multiple business activities under one license, and special tax regimes.
If you are interested in the prospect of opening a business in free zones, submit a request on the website. We will contact you shortly. Our specialists will carefully analyze your project and provide the most suitable solution for company registration. Additionally, we are ready to provide comprehensive support and assistance.
First, determine the industry of operation. Once you make a choice, contact Vision Prime. You will receive a free consultation where we will discuss which zone is ideal for your business, what documents are needed for registration, how much it costs, and how long it takes to open.
The minimum price for coworking space in a free zone is $1,000 per year. Office space costs several times more. For a small office, expect to pay from $5,000 per year. These are average figures. Rental costs may vary depending on the prestige of the area. For example, office spaces in Dubai Internet City free zone can cost $75,000 per year for a 150 sq. m area, where Telegram's office, known by Pavel Durov, is located.
KYC (Know Your Customer) is the process of verifying counterparties. Its main goal is to protect companies and banking institutions from fraudsters and terrorists.
CRS (Common Reporting Standard) is a global standard related to tax information exchange. It has been in effect in the UAE since 2018 and applies only to non-residents. If the business is conducted by a resident, their data is protected from disclosure.
There are two scenarios. If the recipient of goods/services is within the UAE, VAT must be paid. However, if the transaction is conducted outside the UAE, it is not subject to taxes.
It depends on which free zone you plan to operate in. Registration can take from a couple of days to several weeks. The type of business, availability of all necessary documents, including a brief description of activities and passport copies, also plays a role.
Additionally, obtaining additional permits and licenses from government authorities is necessary after registration, which also takes some time.
No, it is not mandatory. One of the features of most free zones is the availability of virtual offices or the option to rent space for both long-term and short-term periods.
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