There is an enormous variety of Free Zones in the UAE and the entrepreneur is spoiled for choice. How to find the ideal Free Zone for your business?
There are currently around 50 Free Zones in the 7 different Emirates of the UAE. Most likely the number of Free Zones will even increase in the future. How should an entrepreneur find the ideal free zone for his business?
What are the key factors to choose the ideal Free Zone?
The biggest differences between the various Free Zones are the permitted activities, the availability of suitable offices and small warehouses. You will also recognize a significant distinction in the set-up fees, renewal fees, visa costs and in your yearly office rent. Furthermore, each Free Zone works under its own laws and regulations and provides different services.
To choose the best Free Zone for your business, you should take the following key factors into consideration:
• Nature and size of the planned company
• Manpower and visa requirements for the planned company
• Allocated budget for the set-up
• Proposed activity of the company
• Free Zones specialized in specific activities
• Location of the Free Zone
• Infrastructure provided by the Free Zone
• Facilities offered by the Free Zone
• Licensing process of the Free Zone related to the proposed activity
• Set-up process in the Free Zone, required documents and costs
• Size and rent costs of the needed office, warehouse or industrial land
• Recurring costs in the Free Zone for yearly renewals and facilities
• Prestige of a particular Free Zone
• Services provided by the Free Zone
• Hidden charges
• Other specific requirements
In the end there are at least 15 aspects that should be taken into consideration to find the ideal Free Zone for the planned company set-up. You should also keep in mind that the Fee Zone regulations, set-up procedures and costs change from time to time. Additionally, there are new Free Zones like Dubai CommerCity coming up, providing further business opportunities in the future.
Why is it important to choose the Free Zone wisely?
There are several key factors an entrepreneur should take into consideration before choosing a specific Free Zone. The reason to choose the Free Zone wisely, is that a company cannot easily be shifted from one Free Zone to another. If it comes out that the choice of the specific Free Zone has not been the best option, the company must be liquidated and set-up again in a new Free Zone. Choosing the ideal Free Zone wisely, can save you much time, costs and hassle in the long run.
It is worth the effort to collect information and interview entrepreneurs in different Free Zones about their experience with the set-up process and the day-to-day business. You can also contact MEO Business Center to provide detailed expert advice and professional support to find the ideal Free Zone for your business.
A Business Incubator like MEO Business Center can explain the advantages and disadvantages of various Free Zones and answer all your questions. Our experienced MEO Business Center team also supports you with the set-up process, visa applications, bank account openings etc. We will save you much time and hassle in dealing with the Free Zone and other authorities. The small amount invested in professional support will certainly pay off in the long run.