Most Economical Free Zone in the UAE
Entrepreneurs and foreign investors are frequently interested in establishing a business in the United Arab Emirates. Whether it’s a new company venture or a branch of a large corporation, everyone prefers to conduct business in Dubai. After all, why not? Superior business infrastructure, exposure for entrepreneurs, legal support from the UAE government, hassle-free business licensing, and so on are all included. Dubai is best described by words like “luxury” and “opulence.” There is one term, however, that many people do not identify within Dubai: “cheap.” Due to the UAE’s cheapest free zones, business owners and new-age investors can find cost-effective commercial settings in Dubai.
Dubai International Financial Centre (DIFC)
The DIFC is a leading financial business hub for a wide range of industries, including fintech, lifestyle, and others. It is one of the world’s top ten onshore financial centers.
The adoption of a common-law framework is a hallmark of this free zone. The DFSA (Dubai Financial Services Authority) is the region’s independent regulatory body, while the DIFC Courts are its separate legal system.
When you start a firm in DIFC, you gain a number of advantages, including:
- Finance-oriented free zone (there are only two financial free zones in Emirates)
- 100% foreign ownership
- A robust legal framework to carry out cross-border activities
- No limitations on capital repatriation
- Zero tax on employee income
- English-speaking, common law judicial system
In the DIFC, there are currently about 2000 businesses. As a result, the region has evolved into a financial ecosystem in which many institutions interact, plan, and expand in tandem.
You can start a financial firm in a variety of industries, including investment banking, brokerage, fund management, and financial consulting.
DIFC is also a destination for lifestyle-related industries, in addition to finance. In the Dubai International Financial Centre, businesses including saloons, gyms, coffee shops, and restaurants thrive and prosper.
Apart from DIFC, here is a list of the cheapest free zones in the UAE to keep an eye on:
1. Dubai Silicon Oasis (DSO)
In Dubai, DSO is the epicenter of cutting-edge technology and development. It’s a free zone where employees can find work and live in comfortable surroundings. In Dubai Silicon Oasis, you’ll discover a number of IT giants, telecommunication companies, and other businesses.
Although technology is the apparent draw to this free zone, legal companies, consular agencies, and other enterprises can also be found here.
The following are some of the advantages of establishing a business in Dubai Silicon Oasis:
- Exemption from various taxes (import/export, income, and corporate taxes)
- Close to Dubai International Airport, Jebal Ali Port, and Port Rashid
- Tier 3 data center and advanced IT infrastructure
2.Jebel Ali Free Zone (JAFZA)
It is the UAE’s oldest free zone. In addition, JAFZA is one of the largest free zones in the world. Companies in the logistics, commodities trading and shipping industries could not ask for a better free zone to conduct business in the UAE than JAFZA.
The free zone offers six different types of business licenses to help you start and run your ideal company. In JAFZA, you can start a manufacturing, trading, development, or service-related firm.
Here are some of the advantages of establishing a business in the Jebel Ali Free Zone:
- Near the Jebel Ali Seaport and Al Maktoum International Airport
- Zero tax and duties
- The most powerful business community in the MENA (the Middle East and North Africa) region
3. Dubai Media City (DMC)
If you’re wanting to start a media company, Dubai Media City is the place to go. It’s a worldwide media hub with a world-class infrastructure that makes it easier for businesses to operate in and out of Dubai.
DMC is one of the UAE’s cheapest and greatest free zones, and it has swiftly become a global media powerhouse. It is home to a variety of enterprises, including event management, advertising, and news media, among others:
As a result, the following are the advantages of benefit setup in Dubai Media City:
- 100% foreign ownership
- Exemption on custom duty (goods and services)
- 24-hour visa service
4. Dubai Healthcare City (DHC)
The DHC is the world’s first medical-free zone. The sectors that dominate this free zone are premier healthcare institutes, clinics, pharmaceutical education, medical equipment trading, and so on. DHCA is in charge of it (Dubai Healthcare City Authority).
There are also many luxurious 5-star hotels, villas, and residential flats in the area. As a result, everyone connected in DHC strives to make it the world’s leading healthcare provider.
The following are some of the advantages of establishing a business in Dubai Healthcare City:
- Complete exemption from taxes and custom duty
- 100% foreign ownership
- Administrative assistance from DHCA
5. Sharjah Media City (SHAMS)
SHAMS, Sharjah Media City, is offering business establishment packages for as little as AED 5,750. A professional media license and one of the 13 listed activities are included in the package. To add more activities, a fee of AED 1,000 per activity will be required.
The media activities include:
- Digital Marketing
- Programming and consultancy
- Media Production
- Web Portal
- Market Research
- Graphic Design
- Fashion Design
- Interior Design
- Translation Services
The media license is best suited for new entrepreneurs, UAE citizens, and established business owners because this company registration package does not include a visa
Setup your Business in Free Zones with Alya Auditors
Alya Auditors assists you in comparing and locating the most cost-effective free zone in Dubai. As a result, they can help you select from a variety of jurisdictions and legislation that apply to specific free zones. Our experts can walk you through the procedure and make sure you don’t make any mistakes.
To achieve optimum returns and exponential business growth, it is critical to implement your business idea in the ideal free zone setting in Dubai.
Thanks for sharing such an informative blog! We appreciate your work very much Aiswarya Pramod.