The United Arab Emirates is gaining recognition among international businesspeople as a result of the country’s booming economy. To start a firm, free zones are quickly replacing formerly popular locations among foreign investors. The question is, what precisely is a free zone, and what benefits does it offer to possible investors? In this instance, teamwork will reveal the answer.
Learn about the primary reasons free zones in the United Arab Emirates are so popular among foreign businesspeople, the advantages they offer to new investors and entrepreneurs, and some helpful tips you should follow to start setting up your company in this comprehensive article.
If you want to know more about the free zones in the United Arab Emirates, here’s where you need to be!
What Exactly Are Free Zones?
Free zones (also called free trade zones) are established as economic hubs to facilitate the free exchange of goods and services. One of the main reasons they are so well-liked by businesspeople from other nations is that they serve as unique locations where international firms can expand because of their many advantages to investors and entrepreneurs.
In-depth familiarity with the nature of a free zone and its functioning is essential for any potential investor planning to launch a firm there.
What Makes Masdar Free Zone the Best?
Any form of business can flourish in the tax-free environment of Masdar City’s free trade zone. Many different types of companies, from start-ups to SMEs to global multinationals, call the free zone home.
The Free Zone is an essential component in the process of luring new businesses to Masdar City. The Free Zone is a commercial hub where companies may acquire everything they need to be up and running, from office space to legal registration. This allows enterprises to get off the ground and compete with their competitors.
5 Reasons to Set Up Your Business in Masdar City
Following are our top five reasons you should start your business in Masdar free zone right away. Have a look!
- They Offer Reasonably Priced Bundles of Permits for Commercial Use
Companies of all sizes may afford to set up shop in Masdar City thanks to the city’s flexible business formation options. Investors flocked to Masdar City Free Zone, after it was declared that companies could be formed there for relatively little out-of-pocket expense.
The most attractive aspect of the Masdar City free zone is the “Package A” deal it offers, where you can purchase a company license for as little as one thousand Emirati Dirhams.
The package gives entrepreneurs a choice between two activities and a zero visa alternative. At a meager price, you may get the Women’s Entrepreneurship Bundle. It is one of the cheapest free zone licenses in the UAE because it requires only one visa and covers four distinct industries.
For hassle-free acquisition of this bundle, you can communicate with any UAE-based business setup expert. In addition, the Women Entrepreneurship Program package offered by the free zone makes it easy and inexpensive for female entrepreneurs to set up shop in Masdar City.
- More Cost-Effective Commercial and Lease Opportunities in Masdar City
Companies looking to attract foreign investors should look for free zones that provide high-quality infrastructure and flexible office space. Businesses of all sizes can take advantage of the exceptional facilities and office space available in the free zone of Masdar City.
Developers, investors, and occupiers can lease state-of-the-art facilities in Masdar City’s free area, which can be modified to match the unique requirements of any business.
- Possibilities for Low-Cost Commercial and Lease Purchases in Masdar City
Masdar City’s free zone provides a wide range of leasing options for businesses, including purchasing or leasing development plots on which to construct malls and offices that may be easily reconfigured to meet the local community’s needs.
Customized Abu Dhabi business setup services make signing a lease easier and getting up and running quickly. Here is a rundown of some of Masdar City’s most essential establishments for establishing a business:
- Customized Work Spaces
- Large Amounts of Land Available
- Custom Building for Specific Sites
- In Masdar City, you’ll find a wide variety of businesses.
Since the Masdar City free zone accommodates a wide variety of business activities, foreign investors are not constrained to a single firm license option. Foreign investors setting up shop in the United Arab Emirates should take special care to carefully consider the industry they want to focus on before making any other decisions.
Choosing the wrong activity could have a detrimental impact on the business plan. Thus, working with company setup professionals in Abu Dhabi is necessary. This is something you should do if you want to increase your chances of success. Masdar City issues business licenses for a wide variety of typical enterprises, including those listed below:
- Renewable Resources
- Sustainable Power Sources
- Environmental Technology and Information and Communication Technology
- Business Strategy and Organizing
- Personnel Resources
- Services in the Energy Industry and Healthcare
- People Who Offer Their Services
- Construction Services for Buildings and Other Properties
- Central offices, subsidiaries, and holding businesses in a specific region
- Facilities for Conducting Business and Storing and Processing Electronic Data
- Energy Industry Support Services for Oil and Gas
- Shops, Eateries, and Beverages
- The World’s First Space Hub Will Open in Masdar City
On January 20, 2022, Masdar City and the United Arab Emirates Space Agency signed an agreement to create a Space Tech Hub. The center hopes to inspire new business ventures and scientific exploration in the space sector.
Space technology companies in Masdar City will have access to several resources, including incubation, office space, mentoring, networking opportunities, investment prospects, priority access to government contracts, and tighter collaboration with world-renowned research centers. Businesses in the Masdar City free zone will soon reap the benefits of being so close to the Space Tech Hub.
How to Start a Business Quickly – Parting Thoughts
Creating a firm in Masdar City is straightforward and can be finalized without approval from the city’s authorities. If the applicants submit all of the necessary documentation, the process should be completed in a matter of days. Consulting firms specializing in business formation in Abu Dhabi might be hired to hasten the process.