Goods and Bads
Freezone Company in UAE comes with its own pros and cons which is very important for decision making purposes
Advantages
- 100% foreign ownership
- Corporate and personal income tax exemptions
- Full repatriation of profits and capital
- No import/export duties within the freezone
- Streamlined business setup and administrative processes
- Access to state-of-the-art infrastructure and facilities
Disadvantages
- Restricted to operating within the freezone and outside the UAE
- Limited access to the local UAE market without a local distributor
- Annual fees for license renewal and freezone maintenance
- Regulations and restrictions may vary between different freezones
Process
Step by Step Process
Choose a Freezone
Select a freezone that aligns with your business activities and requirements.
Select Business Activity
Choose the business activity or activities you intend to carry out in the freezone.
Reserve Company Name
Reserve a unique company name that complies with the freezone authority's naming guidelines.
Submit Application and Documents
Submit the application form along with the required documents to the freezone authority.
Obtain Initial Approval
Receive initial approval from the freezone authority for your business setup.
Lease Office Space
Lease office space within the freezone as per your business requirements.
Submit Final Documents and Pay Fees
Submit the final set of documents and pay the required fees for license issuance.
Collect Business License
Collect your business license and start operating your freezone company.
Tax and Compliances
Following are the Compliances that will be required
Tax Exemptions
Freezone Companies are exempt from corporate and personal income taxes for a specific period, usually 15-50 years, renewable.
VAT Registration
Companies with taxable supplies and imports exceeding the mandatory registration threshold must register for VAT with the Federal Tax Authority.
Annual License Renewal
Freezone Companies must renew their business license annually and comply with the freezone authority's regulations.
Audit Requirements
Some freezones require annual audited financial statements to be submitted.
Documents Required
Following are the documents that will be required
Passport Copies
Copies of the passports of shareholders and directors.
Proof of Address
Utility bills or bank statements showing the address of shareholders and directors.
Business Plan
A brief business plan outlining the activities and objectives of the company.
No Objection Certificate (NOC)
NOC from the current sponsor if the shareholder or director is a UAE resident.
Deliverables
The service package includes a comprehensive list of deliverables which includes the following.
Trade License
Certificate of Incorporation
Share Certificates
Lease Agreement
Emirates ID
Residence Visa
Establishment Card
Bank Account Setup Assistance
VAT Registration (if applicable)
Hear from the Entrepreneurs
Discover what our clients say about their journey with us. Real stories, real experiences, real success.
"Wonderfull service in minimum charges. I recommended to who want register your company and need of all official services. Taxkriya is the best choice."
Jalal J
C3 Property Store Private Limited
"Taxkriya is a wonderful experience for me they helped me to do smooth process in forming company for me and very friendly persons who takes our inputs and also suggest which is best for us."
Krishna Chaitanya
Cognikey Technology Solutions Private Limited
"I genuinely recommend Taxkriya and found this as one of the smoothest process in forming an LLC. The support from the team was absolutely good and support from Mr. Gowtham was purely exceptional."
Ganta Sai Akhil
Sketchz engineering LLC