The economy in the Emirates and the free zones, but there are many specialized free economic and industrial zones, the most famous of which is Jebel Ali in the Emirate of Dubai, in addition to Khalifa Industrial City (KIZAD) in the Emirate of Abu Dhabi, and many other industrial zones in the rest of the Emirates, noting that the Higher Corporation for Specialized Economic Zones is the largest operator of free zones in the Emirates.

Economy in the Emirates

The economy in the Emirates at the present time is completely different from previous periods. In ancient times, Dubai’s economy depended on trade such as fish and extracting pearls from the sea and selling them, and so on, until oil was discovered and became one of the most important discoveries that caused a boom in the economy. Over time, the presence of oil made the Emirates one of the richest Arab countries, which attracted many investors and traders to start some important investment projects that may have a lot of money. The discovery of oil in Dubai represented a great benefit to it, to foreigners, and to all residents. Given that its economy attracted many people to it, it was necessary for any investor who wanted to establish an activity in the Emirates to own a company that would serve as the main headquarters for his work. All new investors are considered to establish the companies they want in the best places, while completing all procedures and obtaining commercial licenses. All of this is done at the cheapest possible prices and in the shortest time.

Established in 2002, this free zone is one of the best known free zones, not to mention the most famous at the present time. In 2014, as well as last year, the Dubai Multi Commodities Centre was named the best free zone in the world in 2015.

One of the advantages of working in Dubai is that it suits any type of worker, and it hosts different types of companies, including:

All free zones allow 100% foreign ownership and full repatriation of capital. DMCC also offers efficient incorporation, selective access to the startup, SME and corporate community, and provides training courses and networking events from time to time.

Real estate investment in Dubai is one of the most sought-after projects by investors around the world, given the economic development of investment in the UAE in general.

Real estate investment is a long-term investment and one of the investments that achieves large returns and profits.

Best Places to Invest in Real Estate in Dubai 2021

•         Location is one of the most important factors when choosing to invest in Dubai real estate.
•         The location determines the proximity and distance of the property from vital areas, which is a very important aspect that the investor takes into consideration.
•         One of the most prominent places for real estate investment in Dubai is Dubai Marina or Business Bay.
•         The most prominent places are those close to offices or tourist and commercial centers.

Many foreign investors are attracted to setting up companies in the UAE’s free zones, as they can fully own them and there are no bureaucratic complications involved in setting up. However, it is important to note that free zones are not part of the UAE as local laws are not applied within them. Free zone companies cannot operate from within the UAE unless they open offices within the UAE or operate through local distributors only.

To establish a company in the United Arab Emirates in any field, whether an import and export company or otherwise, you must first submit an application to the Department of Economic Development in the city in which you want to establish the multi-national company, whether Dubai, Abu Dhabi or otherwise.

Fortunately, you can communicate with one of the economic development departments in most of the emirates of the country electronically, and you do not necessarily have to go to their headquarters in person. You can search for the website of the new economic development department in the city and start the procedures electronically from the website.

In order to obtain this initial approval from the Department of Economic Development, you must enhance follow-up and improve the relevant authorities related to the field of work of your project and the company you work for to implement other procedures .

The UAE is one of the most dynamic economies in the world with its investment-friendly laws, world-class infrastructure, strategic geographic location, and zero personal and corporate income taxes, making it a global destination for business investment. In order for investors to avoid any legal complications in the future, it is important to consider all legal aspects before making any investment decisions.

Cost of establishing a company in the free zone

She announced that companies in the free zone are different from companies in any other zone. The free zone enjoys many advantages that make it different from other places, as it is characterized by:

•         Tax exemption on all goods and companies established therein.
•         Exemption of goods from customs duties, which makes all things less than other areas.
•         Ease of procedures for establishing companies.
•         Ease of owning a company even if you are not an Emirati citizen and there is no need for a partner or sponsor from the Emirates.

Types of companies that can be established in the Emirates

•         Simple partnerships and limited partnerships.
•         Industrial and commercial companies and individual institutions.
•         Companies that have a home business license.
•         And small and medium enterprises in Dubai.

These types of companies must have a partner who is a citizen of the country (UAE) or a citizen of the GCC countries.

In order for anyone to own a company in Dubai to start any investment business in Dubai, this imposes a lot of money on him, as he must choose a suitable place to build the company building on, and then the price of the building and the cost of building materials and internal settings for the company. After the company building and all the decorations and equipment that make it ready to start work are completely finished, there are some papers and expenses that are paid to the competent authorities that impose some fees so that the company can start its activity. All of this requires a lot of money, and we help you start establishing an integrated company with the best equipment and decorations at the lowest possible costs and in the fastest time, while completing all its licenses.