When businesses around the world wish to expand their presence in other countries, the number one destination that comes to their mind is that of Dubai – and for good reason. The fact of the matter is that Dubai has managed to become the business hub of the world in the past couple of years. This is because the government of Dubai has made things extremely easy for foreign investors, which is why more and more businesses are taking an interest in establishing their presence here.
When it comes to a company formation in Dubai, there are two options that you have. First of all, you have the option to establish your business presence in mainland Dubai. The second option revolves around establishing your presence in a free zone. For the sake of this article, we will be focusing on the benefits you can reap by establishing your business in a free zone.
- You will get to retain 100% ownership of your business
The number one benefit that you can reap by opting for an Ajman free zone company formation is that you will get to retain complete ownership of your business. This is because there is no need at all for you to find a local Arab sponsor and have him own 51% of your business. Instead, you get to be the only owner of your business as a free zone company formation does not require you to have a sponsor. This is the major reason why a lot of businesses, particularly startups, typically opt for a free zone company formation.
- Easy set up process and tax exemption
Another major benefit of establishing your business in a free zone is that the set up process is extremely easy and simple. Getting your business license from the right authorities is sure to be a smooth process as long as you have all your business documents in order. Apart from that, businesses that operate in the free zones have a tax exemption benefit from the government as well.
- You can get yourself a business account
When you establish your business presence in a free zone, it will be possible for you to maintain your business bank account yourself. This is a major benefit that businesses that set themselves up in the mainland cannot reap. See this here for further information in this regard.