What types of companies exist in the UAE (Part 2)

We continue the story about companies in the UAE.

Company in the free economic zone of the UAE.

One of the most attractive options for building a business in the Emirates. Free trade zones or "free zones" are established areas in which:

1. business is exempt from paying taxes

2. there are no restrictions on employment, import and export

3. bureaucracy is kept to a minimum.

Freezone business can be wholly owned by the foreigner who created it - no agent or sponsor is required.

There are also several categories of companies here:

• Free Zone Establishment (FZE) is a company with one shareholder. Can operate both within its "free zone" and in other countries

• Free Zone Company (FZC) - a company with two or more shareholders. You can conduct business in the same place as FZE

• A branch of an organization that is part of a parent company, which may be located in the UAE or in another country.

In total, there are more than 30 free zones in the Emirates.

Registration of an offshore company in the UAE

An offshore organization is a special type of commercial company that operates outside its place of origin or original place of incorporation. Businessmen can register this type of company with several intentions:

1. Owning 100% assets in the Emirates

2. Getting tax breaks

3. Simplification of international trade mechanisms

4. Plans for development and expansion of business

5. Attracting international funding.

To open such an organization, you do not need a minimum capital, just like there is no need to create an actual office space.