The UAE Free Zone is an economic area where goods and services are traded at a very low or “preferential” tax or customs rate. It is also known as the Free Trade Zone. UAE acquires 45 Free Zones which are set to facilitate a variety of business operations over a span of industries. The business setups were magnified by these Free Zones which were set up in Dubai, UAE by international businesses or entrepreneurs that offer perks such as 100% foreign internship. Contributing to the great economic growth of the UAE, these Free Zones have attracted global investments and have boosted international business.
A few of the advantages which the DMCC Free Zone offers include, The DMCC Free Zone has to pay no income tax and there are no export and import duties within the Free Zone. Allowing 100% foreign ownership, DMCC Free Zone requires only one stakeholder and a director in which both can be the same person. The greatest advantage of the DMCC Free Zone is its amazing location which is located one hour away from Abu Dhabi and a few minutes away from Jebel Ali Port and Maktoum International Airport. It is also known to offer commercial and residential properties to buy, with a freehold option. The onshore Dubai companies have stricter rules and regulations for the staff recruitment and work visa applications as compared to the DMCC Free Zone.
A resident visa of a country is basically a document that allows you to live in a particular country for a long period of time. That period of time varies with the time specified on the visa. The time can be as less as a year and as long as or more than 10 years.
A resident visa of UAE allows people from countries other than UAE to live in the country. The resident visa of UAE cones with a list of benefits such as being able to get a loan, a driving license, health insurance and benefits, getting admission in public or private schools.
You would not be eligible for the visa if you do not fall under any of the following categories:
- You are an employee of any public or private company in the UAE
- A student in an institution of the country
- You are related to any of UAE’s citizen
- You have invested in the country
In case you decide to stay even after the expiry, you can but it might cost you a whole fortune. Following are the prices that you will have to pay for staying longer than your visa allows you to :
- AED 25 a day, for the first six months.
- AED 50 per day, for the next six months.
- AED 100 per day, after the year has passed.
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Tags – Business Setup in Dubai, Mainland Company Formation in Dubai, Mainland Company Formation in Dubai, Business Setup in UAE Free Zone