Setting Up Shop in the UAE And Discover the Power of 100% Foreign Ownership with Free Zone Visas
The UAE has been an ideal location for growing and starting a business throughout recent years. Most investors find it economically stable with consistent development, investor-friendly process, larger markets, and a tax-free system that is attractive to pass. UAE free zone visa gives you 100% business ownership. Also, setting up a business in the UAE is simpler than anywhere else in the Middle East. As it is now known, the UAE has different jurisdictions through which an individual can set up a business. The three different jurisdictions are mainland, free zone, and offshore. The most profitable among the three is setting up a business in the UAE free zone. The main reason why businessman prefers setting up a business in a free zone is because of no compulsion of a local sponsor (UAE national) for the business.
Any individual or a company that desires to start operations in the UAE free zones should apply for the visa before establishing the presence. Each Free Zone in the UAE has its authority and rules for applying. Companies and individuals that apply shall get benefits relying upon the free zone.
Advantages of a UAE Free Zone Visa
- Get 100% foreign ownership
- Repatriation on capital and profits
- Availability of long term renting choices lasting for 25 years
- Exemption from corporate taxes for a fixed timeframe with the renewal option
- Exemption from personal, import and export taxes
Individuals who wish to start their own business in the UAE free zone are qualified to apply for residency in the UAE on either an investor visa or with an employment visa. The Free zone visas do not have to deal with the Ministry of Human Resources and Emiratisation, just with the Immigration Department (General Directorate of Residency and Foreign Affairs). This makes the procedure significantly clearer yet it additionally implies that Free zone visas don’t strictly allow the people to work outside the Free Zone (for example Onshore) as they don’t have a full UAE Labor contract.
Following are the steps to get a UAE free zone:
1. E-channel Services Registration:
To apply for the E-channel services, you can take the assistance of a specialist who will guide you to register your organization with the online services by paying the essential charges. This was begun by the UAE authority to smooth out the visa process. This system eliminates manual work and makes applying and enrolling a lot quicker and straightforward.
2. Applying for Employment Visa:
When you have registered for the e-channel services, you can now apply for an employment visa. This will be a temporary visa and valid for only 60 days. It is additionally called as an entry permit. The UAE immigration department will mail your entry permit within a week once it is ready.
3. Status Change:
The status change is an important process to get your free zone visa. It is likewise called “status adjustment” and could be in three different ways, for example, inside the country, outside the country, and border run. Most entrepreneur option for indie the country status change. The best alternative among the business visionaries is an in-nation status change. One just needs to submit the required documents along with the passport to the immigration, the immigration department will stamp the passport and the employment visa will be activated.
Outside the country, this option is unfortunately not available to all the nationalities thus it is better to check with your free zone authority before you leave the country. You can activate the visa by exiting the UAE and re-entering. At the airport, you must present the printed employment visa to the immigration officers. These officers will stamp your passport and activate your visa after checking its authenticity.
4. Medical Examination:
The medical examination is compulsory and consists of a blood test and a chest X-ray. This process requires 3-4 days of completion.
5. Emirate ID Registration:
After getting your medical certificate, you can apply for the registration of an Emirates ID. The UAE residents and citizens must always carry the identity card with them. To apply for the Emirates ID, you should visit an official Emirates ID authority to make your application.
6. UAE residence visa stamping:
The last step in the UAE visa process is getting the visa stamped in your passport. To get the passport stamped, you must submit the same to the related immigration authority in the UAE. You will receive an SMS from the Immigration department for the modification or approval. It will take around 2 weeks to process a Free zone visa after which the UAE immigration department will issue you a visa.
If you are hoping to get a free zone visa in the UAE, and have almost no clue about the process, you can take help from a business consultant who is knowledgeable about the formalities. We at MSZ corporate services provider will assist you in getting your UAE free zone visa. Get in touch with us today, Click Here to Contact MSZ or Email to info@msz.ae