The cheapest free zone in the Emirates

29 Apr The cheapest free zone in the Emirates

Free zones in the UAE are exciting investment destinations that attract investors from all over the world. Among these areas, the name of a distinctive free zone stands out, characterized by low costs and attractive investment facilities. In cooperation with Itqan Company, we will review in this comprehensive article the cheapest free zone in the Emirates and the benefits that investors can benefit from through this company.

We will provide a comprehensive overview of the free zone, its geographical location and the available infrastructure. We will also discuss the financial and legal facilities that this region offers to investors, such as tax deductions, customs exemptions, simple incorporation procedures, and flexibility in business organization.

In addition, we will review the role of Itqan Company in providing support and advice to investors wishing to invest in this free zone. The company will provide its experience and specialized knowledge in the field of legal and financial consulting to help organize businesses and facilitate the investment process in the cheapest free zone in the Emirates.

We will provide examples of the economic sectors that thrive in this free zone and the investment opportunities available there. We will highlight startups, manufacturing, logistics and other promising sectors that investors can explore and benefit from.

In short, this article will be a comprehensive reference for investors who aim to explore the cheapest free zone in the Emirates and benefit from the investment opportunities available in it in cooperation with Itqan Company. The article will include valuable information and guidance for investors to make informed investment decisions and achieve success in their investment journey.

The cheapest free zone in the Emirates

The cheapest free zone in the Emirates

Construction and operating costs in free zones in the UAE vary based on several factors, including the type of activity, company size, infrastructure requirements and services provided. It is difficult to definitively determine which free zone is the cheapest, as costs change depending on circumstances and needs.

However, it can be said that some of the free zones in the Emirates are considered among the most competitive in terms of costs, and among these zones are:

• Sharjah Free Zone (SAIF Zone): SAIF Zone offers competitive costs and excellent facilities for businesses, making it a favorite destination for many entrepreneurs.
• Ajman Free Zone: Ajman Free Zone offers low costs and flexibility of procedures, making it an attractive option for SMEs.
• RAK Free Trade Zone: RAK FTZ offers reasonable operating costs and good infrastructure, making it a good choice for companies that want to grow sustainably.

Services available in free zones

Free zones in the UAE provide a variety of services to meet the needs of companies and facilitate their operations. Here are some of the main services available in these areas:

1. Registration and licensing services: Free zones provide fast and efficient services for registering companies and obtaining the necessary licenses to start a business.
2. Advanced Infrastructure: Infrastructure in free zones includes modern facilities such as luxury offices, warehouses, factories, and logistics centers.
3. Logistics services: Free zones provide logistical services such as customs clearance, warehousing services, distribution, and international shipping.
4. Administrative and financial support: Free zones provide administrative and financial services such as accounts, auditing, accounting, and banking services.
5. Research and Development: Some free zones offer research, development and innovation facilities to support companies in developing their products and technologies.
6. Insurance and health services: There are many insurance and health care facilities available in free zones for employees and company members.
7. Training and career development: Some free zones offer training and development programs for employees to increase their efficiency and develop their skills.
8. Recruitment and Human Resources Administrative Services: Free zones provide recruitment and human resource management assistance services to companies.
9. Marketing and Promotion: Some free zones provide marketing and promotion services to companies to increase their presence in the market.

Costs associated with establishing a company in free zones

The costs of establishing a company in free zones may vary based on several factors such as the type of company, business size, and the free zone itself. Here is a list of common costs associated with setting up a company in free zones:

• Registration and establishment fees: These fees include the costs associated with registering and establishing the company in the free zone, and these fees vary based on the type of company and local requirements.
• License fees: License fees are paid to obtain official permission to conduct commercial activities in the free zone.
• Rental fees: Rental costs may vary based on the size of the space and location within the free zone, and may also include maintenance and general service fees.
• Administrative services fees: These fees can include the costs of administrative services such as ready offices, reception services, mail and shipping services, and other administrative support.
• Legal consultation fees: In some cases, a company may need legal advice to advise on legal procedures and local legislation, which involves additional costs.
• Insurance fees: Insurance fees are paid to cover potential risks related to the company’s business and property.
• Logistics fees: The company may need to pay fees for logistics services such as customs clearance, shipping, and warehousing.
• Other fees: The process of establishing a company in the free zone may involve other fees, such as health insurance fees, electronic registration fees, and others.

Establishing a company in free zones

Requirements necessary to establish a company in free zones

Establishing a company in the free zones in the UAE requires following specific procedures and providing some necessary documents and information. Here is a list of basic requirements for establishing a company in free zones:

1. Company type: Determine the type of company you wish to establish, whether it is a joint stock company, a limited liability company, an individual company, or other.
2. Company name: Determine a name for the company and ensure that it is not similar to the names of other companies in the area and that it complies with local regulations.
3. Company location: Determine the location of the company’s headquarters within the free zone, whether it is an office, warehouse, or factory, and confirm the availability of the required space.
4. Shareholders and Directors: Provide information about the shareholders and directors who will manage and own the company, including personal data, date of birth, and nationality.
5. Capital: Determine the capital required to establish the company and provide it in a bank account in the Emirates.
6. Identity documents of partners and directors: Provide copies of passports or identity cards of shareholders and directors.
7. Articles of Association: Prepare and sign the Articles of Association, which contains information about the partners, business activity, and distribution of shares.
8. Registration application form: Fill out the free zone registration application form and submit it with the necessary documents.
9. Proof of Address Certificate: Providing the company with a proof of address certificate, which could be a lease contract or a utility bill.
10. Business License: Obtaining a business license that allows the company to carry out approved commercial activities in the free zone.

Conditions that companies may face in free zones

When establishing a company in free zones in the UAE, companies may face some conditions or challenges that they should be aware of. Here are some common conditions that companies in free zones may face:

1. Minimum capital: Some free zones may impose conditions regarding the minimum capital required to establish a company, and this limit varies depending on the type of company and commercial activity.
2. Citizenship or local partnership: In some private sectors, there may be a need to have a local partner or local partnership at a certain percentage in the company, depending on local laws and regulations.
3. Permits and Licenses: There may be special permits and licenses required for some business activities in free zones, such as industry or export and import permits, and these rules must be complied with.
4. Compliance with local regulations and laws: Companies must comply with local regulations and laws in the UAE, which may vary depending on the free zone and type of business activity.
5. Local Employment: Some free zones may impose conditions on local employment, such as providing employment opportunities to UAE nationals at a certain percentage of the total workforce.
6. Environmental Responsibility: Companies must comply with local environmental legislation and regulations, which include environmental permitting requirements, waste management and natural resource conservation.
7. Tax obligations: Companies must comply with local tax legislation, including the obligation to pay local taxes and periodically submit financial reports.
8. Submitting periodic reports: Some free zones may require companies to submit periodic reports on their activities and financial information to local authorities.

Advantages offered by free zones to companies

Free zones in the UAE provide a range of advantages that make them an attractive place to establish companies and grow businesses. Here are some of the key benefits these areas offer:

• Tax exemption: Free zones usually provide full or partial exemption from taxes on income, profit, financial operations, export and import.
• Facilitations in licensing and registration: Free zones provide quick and simplified procedures for obtaining licenses and registration, making it easier for companies to quickly start their business.
• Providing advanced infrastructure: Free zones provide advanced infrastructure that includes airports, ports, roads, communications and logistics services, facilitating shipping, export and import operations.
• Easy access to skilled labor: Free zones provide an attractive work environment for skilled labor of different nationalities, which makes it easier for companies to recruit the necessary competencies.
• Complete freedom of ownership: In some free zones, foreign companies can benefit from complete freedom of ownership without the need for a local partnership.
• Support Facilities and Services: Free zones provide a range of support services such as prefabricated offices, logistical facilities, banking, health services, etc., to meet the needs of companies.
• International business environment: Free zones attract companies from all over the world, creating an international business environment that encourages trade, innovation and economic growth.

At the conclusion of this comprehensive article about the cheapest free zone in the Emirates in cooperation with Itqan Company, we reiterate that the United Arab Emirates provides distinctive and strong investment opportunities for investors. This free zone is considered an ideal destination for those looking for low costs and attractive investment facilities.

In cooperation with Itqan Company, investors can benefit from the support and valuable experience provided by the company in the field of legal and financial consulting. Itqan contributes to facilitating the establishment process and providing advice and guidance on issues related to local legislation and regulations, which helps investors achieve their investment goals in a reliable and profitable manner.

This free zone is characterized by tax reductions, customs exemptions, and easy establishment procedures, which provides a comfortable and encouraging investment environment for growth and expansion. Thanks to its distinguished geographical location and advanced infrastructure, this region provides broad opportunities in various economic sectors.

The most important frequently asked questions about the free zone in the Emirates