A Free Zone Authority offers business licenses to foreign-owned businesses. Each Free Zone is designed around one or more business industry categories and only offers licenses (e.g. for a Free Zone Enterprise (FZE) to companies within those categories.
A company set up in a Free Zone offers benefits to owners:
100% ownership( A single individual is required for setting up (no sponsor required))
Owning properties is allowed(Purpose built office or warehouse facilities)
Fair renewal fees
Confidentiality of your business is maintained
Allowed to open bank account in Dubai
No restriction for doing more than one activity
Can wind up at your discretion
UAE Offshore Incorporation – Features and regulations:
• The capital of the company can be any amount divided into any denomination.
• The minimum number of shareholders and directors is one.
• All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. However, there is no requirement to deposit the capital in bank.
• 100% foreign ownership permitted and 100% tax and duty exemption exists on UAE off shore incorporation companies.
• Opening a corporate bank account in a bank at Dubai, UAE is permitted.
• A registered agent (legal firms, auditors, consultants) is required to be appointed by the Company from the approved list of registered agents maintained by UAE Free Zone.
• The Offshore domicile is located in the UAE Free Zone.
• The investors need not visit the authority to incorporate the company, however the documents need to be signed in the registered agent’s office.
• Audited financials will be requested only in case of suspicion.