If you’re considering setting up a business in Dubai, you might have heard about the various free zones in the city. Free zones are designated areas that offer a host of benefits to businesses looking to operate in Dubai.
But can a free zone company do business in Dubai? Let’s explore this question further.
What is a Free Zone Company?
A free zone company is a business that is established within one of the many free zones in Dubai. These special economic zones offer businesses 100% ownership, tax exemptions, and other benefits that make it easier to operate in Dubai.
Benefits of Setting Up a Free Zone Company
There are several benefits of setting up a free zone company in Dubai. Here are some of the most notable ones:
- 100% ownership: As mentioned earlier, free zone companies enjoy full ownership of their businesses.
- Tax exemptions: Free zone companies are exempt from paying taxes on income and profits for up to 50 years.
- No currency restrictions: Free zone companies can carry out transactions in any currency without any restrictions.
- Ease of doing business: The process of setting up a free zone company is relatively simple and straightforward, with minimal paperwork required.
Can a Free Zone Company Do Business in Dubai?
The answer to this question is yes, but with some limitations. While free zone companies are allowed to carry out business activities within their respective free zones, they cannot operate outside these areas without obtaining additional permits.
If a free zone company wishes to do business outside its designated area, it must obtain the necessary licenses and permits from the relevant authorities. This can include obtaining a trade license from the Department of Economic Development (DED) or registering with other regulatory bodies depending on the nature of their business.
Conclusion
In summary, while free zone companies are limited to operating within their designated areas, they can still do business in Dubai as long as they obtain the necessary permits and licenses. The benefits of setting up a free zone company, such as 100% ownership and tax exemptions, make it an attractive option for businesses looking to operate in Dubai. With the right planning and preparation, setting up a free zone company can be a viable option for businesses of all sizes.
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