Planning to Start a Business? Find out the Cheapest Free Zone License in the UAE 2021

Planning to Start a Business? Find out the Cheapest Free Zone License in the UAE 2021

If you are planning to start a new company in UAE free zone with the help professional business consultant as business setup in UAE free zones is compliant with economic substance requirements. UAE has already proven its commitment to global corporate and compliance standards. it will continue to remain compliant with economic substance requirements.

Company setup in cheapest Free zone in UAE is one of the highly admired places to set up business for international entrepreneurs, doing cross-country businesses. Our simple and speedy process will help your business formation in UAE with ease.

Few Things You Need to Know About UAE Free Zone   

1. You own 100% of the company without a local partner or agent.

2. Your free zone company is compliant with economic substance requirements.

3. There are no limitations on transferring funds out of the UAE.

4. The financial audit is not required in most of the free zones.

5. Corporate account in one of UAE government banks.

6. UAE residency for company owners and their employees.

7. No personal presence for Business setup or renewal.

UAE free zones offer complete packages for any business: from the cheapest company formation in UAE up to prestigious world-famous free zones of International level. You will find many cheapest free zone across UAE. UAE has envisioned the new company formation packages to promote new business formation in Dubai. The low-cost business formation packages in UAE-Dubai are available to new companies joining the free zone.

 Here is the list of the 4 best Free Zones in the UAE for Business setup.

1. Dubai Multi Commodities Center (DMCC)   

Dubai Multi Commodities Centre Free Zone is one of the best choices you have for a company formation in UAE surrounded by A metro line that is under construction and 30 minutes drive from the downtown of Dubai. Over 90000 people live and work here, attracted by our vibrant community, stunning property, and high-quality lifestyle with excellent air, sea, and road links. it is one of the ideal base company bases for the UAE. It has achieved exceptional growth by providing facilities to all types of business therefore It is one of the cheapest free zones in the UAE to set up your business.

If your company is related to a trading company, then the best place to start your company is DMCC. There are various types of commodities that are the main focus of DMCC for company formation. These are diamond, pearls, gold, and tea. Whichever company is established here directly or indirectly involved in the trading of various commodities.

Key Features of DMCC UAE:    

1) Dubai Multi Commodities Centre was established in 2006.

2) It offers given Licenses types such as Trading, Consultancy, Industrial Licenses in the UAE.

3) DMCC provides Facilities like Flexi-desks, Offices, Warehouses, etc.

4) Visas - 2-3 visas with Flexi desk, multiple visas with an office.

5) Business Setup time - 1-day registration and 1-week pre-approval.

 Pros of Dubai Multi Commodities Centre Free Zone:    

1. Highly reputable and recognized the free zone.
2. Big range of business activities.
3. You will be forming your business at the Central location & living in UAE.
4. You can open a branch of your existing company to do business.
5. You can transfer your business to DMCC.

 Cons of Dubai Multi Commodities Centre FZ:    

1. One of the most expensive Free Zones.
2. The company setup process takes longer than in other Free Zones.
3. An annual audit is required.
4. The company's registered address must be in the chosen free zone only.

2. UAQ FTZ - UMM AL QUWAIN FREE ZONE     

Umm Al Quwain Free Zone is perfectly suited to set up your new business. It is easy to set up a company in Umm Al Quwain with the help of a Business setup consultant. You have to provide a few personal documents: a passport copy, photo, and a utility bill. It will remain the legal place of your company registration. You can open a bank account in a Dubai branch at any bank of your choice.

Key Features of Umm Al Quwain Free Zone:    

1) Umm Al Quwain Free Zone was established in 2014.

2) Licenses types - Trading, Consultancy, Industrial.

3) Facilities - Flexi-desks, Offices, Warehouses.

4) Visas - 1-2 visas with Flexi desk, multiple visas with an office in UAE

5) Company setup time-frame - one day.

 Pros of Umm Al Quwain FZ  

1. Close to two international airports and seaports.
2. Fast Business setup time 1 day.
3. Company registration without personal presence
4. No restriction on hiring foreign employees.
5. Modern and Investor-friendly norms and regulations.
6. No currency restriction across UAE.
7. Tax Exemption.
8. A full range of business activities.
9. Business activities are permitted.

  Cons of Umm Al Quwain Free Zone    

1. You will get Flexi desk packages only up to 3 visas.
2. Security approval is required for high-risk nationalities.
3. One has to have a piece of wide-ranging information associated with business setup in UAE.

3. DUBAI TECHNOLOGY ENTREPRENEUR CENTER (DTEC)     

Dubai Technology Entrepreneur Center is situated in Dubai Silicon Oasis. If you visit DTEC, you will be surprised how modern and ergonomic the whole premises look like: you will see comfortable and environmentally co-working spaces, chill-out places, thinking and networking areas, cafes, and even games areas within the same space. It looks like no other Free Zone in UAE can compete with it.

DTEC is a Free Zone made especially for IT-related licenses. It has only 9 business activities, but you can include into your license up to 5 of them which is quite impressive to set up your business in UAE.  

Key Features of Dubai Technology Entrepreneur Center:    

1) Established in 2015.

2) Licenses types - IT, software, online business.

3) Facilities - Flexi-desks, Offices.

4) Visas - 1-2 days visas with Flexi desk, multiple visas with an office in Dubai.

5) Setup time - 2-3 days for registration, 1 week for the pre-approval process.

 Pros of Dubai Technology Entrepreneur Center:   

1. You will get the cheapest package for visa-eligible companies in Dubai.

2. No restrictions on nationalities if you are planning to set up a business in UAE.

3. Modern infrastructure: ready-to-use Flexi-desks, offices, meeting rooms, and cafes inside the premises available.

 Cons of DTEC

1. Only professional business activities related to IT can be functional.

2. It is necessary Need to upgrade the company into Dubai Silicon Oasis Free Zone after 3 years.

3. An annual audit is mandatory.

4. RAKEZ - RAS AL KHAIMAH ECONOMIC ZONE (EX. RAK FREE ZONE)     

RAKEZ stands for Ras Al Khaimah Economic Zone, which was found post-consolidation of 2 Free Zones - Rak Free Trade Zone and RAK Investment Authority, which made the Zone really huge. It is one of the most famous Free Zones - even people who have not heard much of UAE Free Zones should know about it.

RAKEZ is one of a few Free Zones which always has customizable warehouses and plots of industrial land for development. You can also build or rent ready-made staff and labor accommodation.

It has a huge variety of business activities and you can be sure that you will find what you need. The incorporation of a company starts with obligatory security approval for all nationalities, which may take from a few days to a few weeks sometimes. Once it’s done, the company will be registered within about a week.

Key Features of Ras Al Khaimah Economic Zone 

1. Established - 2000.
2. Licenses types - Trading, Consultancy, Industrial.
3. Facilities - Flexi-desks, Offices, Warehouses.
4. Visas - 1-4 visas with Flexi desk, multiple visas with an office.
5. Time-frame - Pre-approval in 1 week, 2 days company formation.

 Pros of Ras Al Khaimah Economic Zone    

1. There are higher chances to get 1 resident visa package for "high-risk nationalities" (Bangladesh, Lebanon, Egypt, and others).
2. Reasonable price of executive offices with the location in RAK and Flexi-desks in Abu Dhabi.
3. No E-channel Deposit for packages with Flexi facility.
4. You can register a Free zone and non-free zone companies.
5. 100 % Ownership for foreign investors.
6. Very fast and convenient business set-up processes.
7. The most important advantage of these free zones in Smaller emirates is their inexpensiveness and easy procedure for company setup in UAE.

    Cons Ras Al Khaimah Economic Zone

1. A personal visit of PoA is required for a free Zone company formation in UAE.
2. Longer free zone company setup process in UAE in comparison with similar Free Zones
3. An annual audit is mandatory.
4. The businesses in a particular free zone are not entitled to expand beyond their free zone limit to other areas of the UAE.
5. Those business segments meant to work in a specific free zone are allowed to work in that zone only.

Take Assistance from us to Get the cheapest business license in UAE

We provide a complete range of plans and solutions for business start-ups and management in Dubai and across the world. We offer all the services related to setting up and running a business in Dubai. We have excellent awareness about UAE business culture and can help you to make the right decision at the right time. If you are planning to start a business in Dubai contact us to find the cheapest Free Zone License in the UAE.