Foreign investors have consistently been looking to develop their business in the UAE, especially in the free zones. UAE free zone companies offer ease of business setup complimented by 100% foreign ownership. Moreover, opening a company here would make you eligible to apply for a UAE free zone visa.
Free zones are known for their highly efficient infrastructure and in addition, their services promote a specific business activity which facilitates a smooth workflow process. Also, every free zone is characterised by its own set of laws and employees working there are subject to the rules and regulations of the specific free zone authority.
There are numerous benefits that come with holding a free zone visa in Dubai. Here is a complete breakdown.
UAE Free Zone Visa: Key Advantages
Free zones in the UAE offer investors and entrepreneurs a supportive environment for business operations while providing perks like residency and flexibility. Here are the top benefits of obtaining a free zone visa:
1. Tax Exemption: This means that you’ll be exempt from import, export, and personal taxes when operating under a free zone visa. Additionally, companies can enjoy a period of relief from corporate taxes, which they can renew at the end of the term to prolong the financial benefits.
2. Full Business Ownership: The laws since 2018 allow foreign investors to own 100% of their company in the UAE, eliminating the need for a local Emirati partner. This means you maintain complete control over your business.
3. Easy Banking: With a UAE Free Zone visa, opening a bank account and managing financial transactions becomes straightforward.
4. Flexible Office Leasing: Secure office spaces or other premises with flexible long-term leasing options, lasting up to 25 years, tailored to suit your business requirements.
5. Unrestricted Fund Transfers: Transfer funds internationally or locally without incurring transaction fees, enhancing your operational efficiency.
6. Driving License Eligibility: As a free zone visa holder, you can apply for a UAE driving license, which is essential for personal mobility and business travel within the country.
7. Healthcare Access: As a free zone visa holder, you can get an Emirates ID and access the same healthcare services as UAE residents, along with affordable health insurance options.
8. Educational Opportunities for Family: If relocating with your family, you can register your children in state or private schools in the UAE, ensuring continuity in their education.
9. Visa-free Travel: A UAE free zone visa often comes with the added benefit of visa-free travel to select countries, making international travel simpler and less cumbersome.
10. Benefits for Employees: Employees working under a Dubai free zone visa enjoy various perks, including job security, competitive salaries, and opportunities for professional growth in a thriving business environment.
These benefits collectively create a highly attractive proposition for those looking to establish and grow their business in the UAE, making it an ideal hub for innovation and entrepreneurship.
Free Zone Visa: Important information
- The General Directorate of Residency and Foreign Affairs (GDRFA) is the body that issues UAE free zone visas.
- The validity of the residency and/or employment visa is up to 3 years. After that, you have to renew it.
- Holders of the free zone visa are only eligible to work within their chosen free zones and not outside of it.
How to Get a Free Zone Residency Visa in the UAE?
To get a free zone visa, one needs to be sponsored by their respective free zones. Company formation consultancies such as Shuraa Business Setup easily handle the applications and registrations which are part of the visa process.
1. Registration
The first step towards applying for your visa is registering your company. After you incorporate your business, you can apply for a company establishment card. This will allow you to apply for an entry permit.
2. Entry Permit
The entry permit is generally issued within 15 days and is valid for a further 60 days. Changing your residency status while within the UAE or passport stamping upon arrival also activates the entry permit.
3. Medical Testing
Applicants have to undergo a basic medical fitness test at centers across the country, consisting of a blood test and chest scan. Also, you can receive the results of the test within a day.
4. Identity Card
The final step is getting your biometrics processed to obtain your Emirates ID. If you have a UAE free zone visa, you can apply for an Emirates ID which allows you access to the same healthcare services as a UAE resident.
The visa in stamped in the passport after the Emirates ID is in your possession. The residence visa stamping is the final act of the process.
Get Your Free Zone Visa with Shuraa Business Setup
Are you looking to make your presence felt in the UAE? Shuraa Business Setup will help you establish your company with minimum hassle. Our expert corporate advisors handle the A to Z of company formation.
Expedite your entry into the UAE free zones today! To know how to acquire a free zone visa, call us at +97144081900 or send a WhatsApp message on +971507775554. You can also drop in an email at [email protected] and get the answers to all your queries.
