A free zone in the UAE is an economic area featuring special advantages over other trade areas. It is one of the best locations for business setup in Dubai, due to its various amenities, trade flexibility, and government incentives. There are more than 40 free zones in the United Arab Emirates, all provide quick and inexpensive company formation and licensing easy workflows. Among the many advantages of working in these areas is the free zone visa.
If you’re considering applying for a free zone visa in the UAE, you’re about to embark on an exciting journey. The UAE offers numerous opportunities for individuals looking to live and work in this vibrant country. In this comprehensive guide, we’ll walk you through everything you need to know about the free zone visa process in the UAE in 2024.
Unveiling the Advantages of UAE Freezone Visa: A Haven for Investors:
Free zones in Dubai are renowned for their ease of setting up a business, providing a streamlined approach to company formation in the UAE. A significant advantage of free zone visas is the ability for businesses to function in a tax-exempt setting. This implies that companies will pay zero corporate or income taxes on their profits. This advantage facilitates easier reinvestment of their earnings for quicker growth. Likewise, employees are not liable for any personal income taxes, the only obligation for an employer is to subtract 5% from employee wages for Social Security contributions.
With a free zone visa, foreign investors get the chance to be sole owners of a business. They can have full control over their company’s operations and investments without the necessity to hire local staff or partners. Ensuring that entrepreneurs enjoy 100% ownership of their free zone company in Dubai and the UAE, makes them a lucrative option for setting up business in the UAE.
The Freezone Visa is more than just a permit; it’s an opportunity to engage in business without the hindrance of corporate taxes, offering the added advantage of repatriating profits and capital. This economic freedom, coupled with high-quality infrastructure, positions the UAE as a haven for investors and entrepreneurs alike.
How to get a freezone visa in Dubai?
Step-by-Step Guide Visa Application Process:
Step1: Register for online services
Begin by applying for your freezone visa via the E-Channel services. This process helps eliminate long queues and tedious paperwork. Instead, you can simply give the necessary information to business setup consultants who can swiftly complete this process for you.
Step 2: Entry Permit:
An entry permit is only issued after registering your business with the relevant authority. A free zone visa comes with a 60 days entry permit, allowing you to enter the UAE legally to complete the visa process. During this period, you need to complete all your business setup process. Remember that, a payment for the entry permit should be done, these fees vary depending on the free zone.
Step 3: Change of Status:
Once you get the entry permit, you essentially need to activate it. In order to do that, you must submit your passport and other identification documents to the immigration officer, who will stamp and activate your visa in order to complete this step. However, even if you are not in the UAE, you can still use the visa by traveling to the country and showing the immigration officer your passport.
Step 4: Register for medical screening and Emirates ID
Next, you must clear the medical fitness test. Which includes chest x-ray and a blood test. This is to make sure you don’t have any infectious diseases that could endanger the health of other people around you. Once cleared, you can register for your Emirates ID, which will allow you to access further services in the UAE. It’s crucial to confirm with the relevant authorities and provide all essential immigration and residency documents, as visa requirements can differ from one free zone to another.
Step 5: Visa Issuance:
The final step is the issuance of your freezone visa attached to your passport. Presenting your passport to the appropriate immigration authorities in the UAE will enable you to achieve this. You can live and work in the country till your visa expires.
Step 6: Opening Bank Account:
To ensure secure and efficient handling of your company’s funds in the UAE market, it’s imperative to open a bank account in the free zone where you conduct your business. The requirements for account establishment can vary based on the financial institution and free zone. A professional business setup advisor like Business Link, will handle the step of opening a corporate bank account seamlessly. You’ll find it simple to meet each financial requirement on this list with our expert’s support every step of the way.
Frequently Asked Questions
Do I need a sponsor for my freezone visa?
To get a free zone visa, you need to have a sponsor in the respective free zone. Company formation consultants such as Business Link seamlessly handle the application process and registration for you.
How many years is the freezone visa in the UAE?
All freezone visas are only valid for a particular duration. They are not unlimited or indefinite. In addition, the employment visas linked to indefinite employment will expire. However, you can renew your freezone visa when expires.
What are the types of freezone visa in the Dubai?
In Dubai, there are two typical types of freezone visas. The investor visa is the first. Typically, this is necessary when opening a business in a free zone.
The other is the employment visa, which is a popular category of visa. This visa is sponsored by a company and connected to a particular position in the UAE.
What are the benefits of Freezone Business setup?
- 100% foreign ownership
- Tax exemption for import or export
- 0% tax rate on personal and corporate income
- Numerous business setup packages at competitive prices
- Easy access to regional markets
- High-quality infrastructure
To set up a business in the UAE free zones, it’s advisable to consult a company formation expert. A company formation specialist can handle the specifics for you, as they can with every step of this procedure. After the visa approval, a business consultant can assist in communicating with all concerned government bodies. You can hire a PRO services agent in Dubai to process your visa faster and without discrepancies. As professionals in the industry, Business Link can help ensure the completion of your application and save any unnecessary delays.
