Setting up shams free zone company is a great way to start a business in the UAE. The advantages of UAE free zones are countless. In addition to being tax-free, you will also be exempt from import and export taxes. You will also be able to repatriate all profits back home. You will not have to pay a single dollar for your incorporation process. The incorporation process is straightforward and can be done in Arabic. You can even make payments and sign the documents from afar.
You can get a resident visa:
Another significant benefit of setting up a UAE free zone company is getting a residence visa within 2-3 years. This will allow you to sponsor your family members and domestic workers. There are several free economic zones, but the Hamriya Free Zone has the lowest share capital requirement. After deciding on the location, the next step is to choose a trading name for your business. Make sure it is available. Otherwise, you may end up with a company with a name already registered.
There is lower paperwork involved:
There are several benefits of setting up a free zone company in the UAE. There is lower paperwork involved, and the business can be set up quickly. In addition, most businesses will be approved on their first attempt. The process also includes setting up a business bank account. You will need to apply for a resident visa to conduct business in UAE. You may need more than one license in some cases, so you will have to find an advisor specializing in this area.
UAE free zones have many benefits for foreign companies. These include tax exclusion and full repatriation benefits for investors and employees. These advantages make setting up a business in the UAE easy and cost-effective. The process of establishing a free zone company is not as complicated as forming a normal company, but you must have the correct knowledge to set it up successfully. The main hurdles in setting up a free zone company are the trade license and the licensing procedure. These are some amazing things to know about UAE free zone business.