According to our lawyers in Dubai, at the present there are more than 28 different Free Zones with a distinct legal status within the UAE. As a result, companies settled in a Free Zone are not only exempt from taxes but also from the general compulsions applicable under UAE Company Law. A corporate lawyer in Dubai will tell you that this means there is no requirement to take a UAE partner as 51% shareholder of the business in the free zone set up.
Our lawyers in Dubai are 100% sure that a Foreign Investor may own the company 100% either solely by himself or through the agreed shareholders regardless of their nationality. Branch offices in Free Zones are also not required to appoint a local service agent as prescribed by UAE Company Law.
One important point that would definitely be mentioned by Fichte & Co lawyers in Dubai is that companies operating within the UAE Free Zones are treated as foreign companies for trade purposes. Consequently they are not allowed to carry out trade within the UAE without a local distribution agent and have to pay customs if exporting goods into the UAE. The customs will be levied when the goods pass the gate of the Free Zone premises. However, a law waiving the customs duty for Free zone companies is expected soon.
Fichte & Co's Corporate Lawyers in Dubai
Our lawyers will advise that in Dubai, companies intending to use the Emirates as a regional manufacturing or distribution base are the best options for Free Zone company set ups since the best part of, or their turnover or the business in its entirety, occurs outside the UAE.
Objectives of free trade zones in UAE
• To promote non-polluting manufacturing activities of any size and in any industry.
• To allow companies to be in the vicinity of the markets in the Middle East region and other global regions.
• To have companies establish a regional trading and distribution base in the UAE.
There are different types of Free Zones in the UAE and they cater for the different needs of each type of company.
The legal requirements and regulatory framework as well as the special benefits to a particular line of business differs from Free Zone to Free Zone, thereby creating a particular interest in one Free Zone as a better option than another for different businesses. Our lawyers in Dubai can help you decide on which Free Zone is the best option for your business purposes.
Legal Advice from our Lawyers in Dubai
It is important, therefore, to obtain accurate legal advice from specialized corporate lawyers in Dubai before making a decision about which Free Zone would best suit the purposes of the intended business. At Fichte & Co we have experienced lawyers in setting up companies in many different Free Zones within the UAE. Our lawyers in Dubai have entrenched relationships with most of the UAE based free zone authorities and knowledge of the processes involved in the licensing and registration of new corporate entities enable us to offer our clients advice and assistance when making the decision and application to the chosen Free Zone.
Fichte & Co corporate lawyers in Dubai are happy to help you with company set up in Free Zones within the UAE.
An important achievement sets Fichte & Co’s lawyers apart from other lawyers in Dubai and that is the corporate department’s award for “The Corporate law firm of the year 2010” in the UAE.