What is offshore company? How to get license offshore company and what are the benefits? Everyday people ask that type questions especially the entrepreneurs who want to invest in UAE markets as a part of their global expansion. Many people raise this point that what is the difference between Mainland Company and Free Zone Company?
Mainland Companies mean that you have the license by the department of the economic development to EMIRATE, which means that you have the permission to do the business in the local and international market from the UAE without any restriction.
A freezone company setup is incorporated within designated jurisdiction from the EMIRATE which means that the company can do the business activity inside the free zone and outside the UAE. For commercial license and trading for the physical good, company cannot do business directly in the local market because the government has imposed some limitation to do the trading in local market through distributor and by paying 5% duty on the local market invoice.
What are difference types of free zone in DUBAI?
Dubai has more than 20 types of an offshore companies offering opportunity for businessmen for variety of range of activity for the company formation which are as follows:
- Dubai academic city.
- Dubai airport free zone authority (DAFZA)
- Dubai biotechnology & research park (DUBIOTECH)
- Dubai car and automotive free zone (DUCAMZ)
- Dubai design district.
- Dubai gold and Diamond Park.
- Dubai health care city.
- Dubai industrial city.
- Dubai international academic city.
- Dubai international financials center.
The easiest suitable business for entrepreneurs is freezone business setup. You can go for any free zone company, but you should be aware of all the advantage and attributes for the free zone company. You are free to select any model which is suitable to your requirements.
Benefits of Setting up any Business in Free Zone:
Dubai free zone has all the facilities according to the modern world which includes state of the art, infrastructure, tax and many more facilities which makes your life hassle free and safe your energy.
- You do not have to worry about capital deposit.
- No import and export duties.
- 100% tax exemption on any personal or corporate gain.
- If you are an investor, you have 100% ownership regardless of your nationality and domicile.
- Initially you don’t have to pay any corporate tax for 15 years. This is further renewed for 15 years making it for 30 years in all.