If you are a foreigner searching for a profitable opportunity to run your business and get more returns, then setting up a company in the free zone of Dubai is a great way to do it. The process is simple. It does not take much time to cover the steps. You can smoothly pass through the administrative process of free zone company formation in Dubai. There are consultants who help you in availing the requisite administrative support. There are three distinct reasons why foreigners take an interest in starting a business in Dubai.
Reason 1: Favorable Tax Regime
You will be more than happy to know that there is no obligation to pay corporate taxes when you profit from the free zone business. Also, there is no need to pay a withholding tax. Furthermore, there are no requirements to pay the authorities any capital gains tax.
Reason 2: Avoidance of Doubt Tax
The UAE has an official business pact and trade deals with more than 66 nations (including USA, China and developed nations from the European Union) that let you avoid double taxation of your business when you set up a company in the UAE.
Reason 3: Accessibility to the Local Currency
Another huge reason why foreigners take an interest to set up business in the free zone of Dubai is that it provides a free, smooth and easy access to the local currency of the UAE. There are no complex procedures. Managing the business operations becomes simpler.
You Have to Find a Suitable Company Name
A top priority should be to find a good name for your company that is yet to be registered under the local authorities. The consultant in these matters will help you. Focus on naming the company in a professional manner.
You Must Have a Detailed Plan for the Business
It is mandatory to have a top-notch plan for the business. The plan helps you to solidify the proposal. The overall setup process becomes more convenient, too. Also, it becomes more cost-effective. You save more time.
Getting the Licenses
It is compulsory to avail all the licenses required to run the business operations. The licenses validate your business in Dubai. You find no problems in moving your business forward in the competitive environment. There is good support from the local authorities. You do not face any hassles in processing the deal.
Hire the Top Consultants
It is a wise decision to hire the best consultants in the industry when you have to set up a Dubai freezone company.
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