Which is the Cheapest Freezone in UAE?
The cheapest Freezone in UAE to start a company, there are some factors to be considered in the process. It includes the location of the Freezone, followed by the business activities chosen, office space requirements, etc.
In Dubai, the cheapest Freezone that offers the lowest cost business license is the International Free Zone Authority (IFZA). It offers the investors a wide range of business activities and access to world-class infrastructure facilities and business support services.
Similarly in the Emirate of Sharjah, there is Sharjah Media City that offers low-cost media licenses to investors. Shams Also offers a cheap business license for a host of activities such as general trading, consulting, media, e-commerce, etc.
Let’s have a look at the relatively cheap Freezones in the UAE that offer similar infrastructure and business benefits as the Free zones in Dubai.
1. International Free Zone Authority (IFZA)
The International Free Zone Authority (IFZA), Dubai is one of the cheapest Freezone in Dubai and is one of the most cost-effective Freezones in UAE. It offers a low-cost company license in Dubai starting from AED 11,900.
The investors experience a wide range of modern office solutions that match international standards. It has a warehouse facility that is built on the highest international logistics standards. IFZA also offers Flexi-desk and flexible rental solutions for the investors to keep their operational costs at a minimum.
Benefits for the Investors
- Fast and easy incorporation and company management
- A wide and comprehensive range of business activities (Consultancy, Services, Trading, etc.)
- There will be 100% Foreign Ownership.
- Ability to Setup a Limited Liability company and get the LLC Suffix after the company name
- There will be 100% exemption from corporate and income tax
- No foreign currency restrictions
- There is no physical office requirement
- No share capital requirement
- Ability to incorporate holding companies
Type of licenses available in IFZA
- Consultancy License — Ideal for professional services like management consultants, HR Consultants, etc.
- Service License- Suited for production, transformation, and distribution of service companies
- Trading License- Best fit for a company that trade specific goods
- General Trading license — For companies that trade a wide range of items
- Industrial License- Best fit for companies involved in importing raw materials, production, manufacturing, package, and exports, etc.
- Holding license — Enables the holding of standalone assets and/or shares of other company
2. Ras Al Khaimah Economic Freezone (RAKEZ)
RAKEZ is a cost-effective business hub with customizable solutions for business establishments to set up their dream company. RAKEZ offers affordable business set-up packages, modern facilities, and first-class services. It has the state of the art infrastructure and hi-tech facilities for industrial growth and development.
RAKEZ offers an easy and fast business setup, customer-friendly environment for the investors. There are more than 14000 companies from 100+ countries registered in RAKEZ. It has 5 Freezone parks that are tailor-made for investor requirements. RAKEZ consists of a business park, industrial parks, and an academic zone.
RAKEZ has provisions for Freezone and Non-Freezone company formation. It offers a wide range of business and industrial facilities. The easy access to global markets through the seaports & airports of the UAE is making RAKEZ a preferred destination for investors.
3. Umm Al Quwain Free Trade Zone (UAQ FTZ)
The Umm Al Quwain Free Trade Zone (UAQ FTZ) is the best free zone in UAE for start-ups, SMEs, and business groups for setting up offices. Its proximity to Dubai, access to the international ports, and top-class infrastructure are making it an investor’s favorite.
The Umm Al Quwain Free Trade Zone has been operating as an autonomous Freezone since its inception in 2014. Due to its low-cost business setup and low running costs, Umm al Quwain Free Zone is expected to have a rapid adoption in the coming years.
Types of Licenses issued by the Um Al Quwain Free Trade Zone
- Freelance permits
- General Trading
4. Ajman Media City Free Zone
Ajman Media City is the cheapest free zone in UAE. This Freezone offers investors a range of business activities and business license types at the lowest cost.
The Ajman Media City has various office types -shared, customized, Flexi-desk, etc., with and world-class infrastructure. Ranging from trading licenses to special license categories like media & Creativity, it has all for the entrepreneurs.
It is considered a top-notch hub for media and entertainment companies to set up the office. It offers a cost-effective platform to media agencies and creative people who are looking for a profitable business establishment.
Types of company formations in the Ajman Media City Freezone
- Freezone Establishment (FZE)
- Free zone Company (FZCO)
- Branch of a Foreign Company
- A subsidiary of a Foreign Company
- Branch of a UAE Company
Benefits of the Ajman media City Freezone
- 100% Foreign Ownership
- 100% Repatriation of Capital and Profits
- No Corporate or Income Tax
- Multiple Business Activities in One Licence
- Quick and Fast License Issue (2 days)
- Quick and Simple Registration Process
The most important components in the business setup are deciding your business activity, business license types, and the perfect location to start your dream company. UAE is the perfect place to establish your business and gain global access easily.
The ease of doing business, government support for entrepreneurs, world-class infrastructure, secure banking facilities, strategic location, proximity to the airport and seaports, global connectivity, etc., is making UAE a strategic location for business establishments. Hence, achieving business excellence and growing your brand into a global one is assured by being in the UAE.
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