The Most Affordable Route of Starting a Business in UAE
Starting a business in the UAE is relatively easy. Although there are certain jurisdictions with rigorous processes, most free zones are rather straightforward and get you running the company right off.
The challenge, however, is the budget. Your startup money or working capital is a vital component that fuels and sustains the business from company formation to business operation. Luckily in the UAE, there are a good number of licensing options to choose from that fit every budget.
For startups, the free zone often comes as the first choice because of its affordability and top-tier benefits. If you are on the verge of deciding which free zone to incorporate your business and your primary concern is the affordability of doing so, here are some of the top recommendations from the expert business setup consultants at Decisive Zone.
International Free Zone Authority (IFZA)
The International Free Zone Authority (IFZA) is where you can find the cheapest general trading company license in the UAE. This free zone is fast becoming a global investment hub for the following reasons:
- Cost-effective business incorporation solutions
- Fast & easy incorporation and company management
- A wide and comprehensive range of business activities including consultancy, service, and trading options
- Physical presence in the UAE is not required during the incorporation process
- Companies have limited liability
- 100% exemption from corporate and income taxes
- No share capital requirement
- Ability to incorporate holding companies
IFZA supports and advocates business sustainability as part of its main focuses. It applies some of the most environmental-friendly practices, which encourages entrepreneurs to thrive in a safe, green community. This free zone is ideal for those with inclination to a sustainable lifestyle.
Sharjah Media City (Shams)
Established in 2017, Sharjah Media City (Shams) is now one of the fastest-growing media free zones in the UAE. It caters to media startups and offers benefits such as:
- Wide range of business activities available on one business license
- Company documents are issued within days
- Physical presence is not required during the incorporation
- Companies have limited liability
- Allocation of up to 6 visas on shared desk facility
- Ability to appoint corporate directors and corporate managers for your company
- Located 15 minutes from Sharjah International Airport and 30 minutes from Dubai International Airport
Shams has a thriving and vibrant ecosystem for young entrepreneurs pursuing creative and innovative ventures in the UAE. It offers low-cost business setup solutions for startups who are mostly working on a small, starting capital. It’s an industry-focused free zone where like-minded individuals from the media sector co-exist harmoniously.
Ras-Al Khaimah Economic Zone (RAKEZ)
Ras-Al Khaimah Economic Zone (RAKEZ)is an all-encompassing yet cost-effective jurisdiction in the UAE that champions both free zone and non-free zone business setup. It covers multiple industries and offers unique advantages, including:
- Accessibility to logistical hubs and highways
- Accessibility via an international spread of regional offices
- Access to the customer portal
- Fast business setup process
- Vast choices of activities and different types of facilities
- Option to register free zone and non-free zone companies
RAKEZ offers one of the most advanced facilities and infrastructures on the most ideal and strategic location in the UAE. It embodies a dynamic community of freelancers, startups, SMEs, multinational companies, and capitalists from the Middle East, Africa, Europe, and Asia.
Appointing a Company Formation Specialist
Aside from the cost of setting up a business in the UAE, the right business setup firm will save you so much trouble and maybe more cost-efficient in the long run. Often business company formation specialists will advise you on the corporate structure and jurisdiction to choose from, while covering all technical, administrative and financial aspects of UAE business setup.