What Is The Meaning Of Free Zone Visa In Dubai?

This type of visas provide temporary residence for three years to foreign entrepreneurs either having a business or wanting to start a business in any free zone across the UAE.

What are the benefits of free zone visa?

The key advantages of having a free zone visa are:

  • Tax exemption. The visa means that you’ll be exempt from paying import, export or personal taxes.
  • 100% ownership.
  • Financial access.
  • Lease premises.
  • Fund transfer.
  • Driving licence.
  • Healthcare access.
  • School registration.

What is free zone visa?

In free zones, the most common type of residence visa is available through an employment contract with a free zone company. This type of UAE residence visa is valid for up to 3 years. Free zone visas are obtained solely from the Immigration Department (GDRFA) without the necessity of contacting the Ministry of Labour.

What is a free zone in Dubai?

Free-trade zone in Dubai, (FTZs) are special economic zones set up with the objective of offering tax concessions and customs duty benefits to expatriate investors. Most of the free zones in Dubai broadly offer trading, services, and industrial licenses to investors looking to set up their businesses.

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How can I get UAE free zone visa?

You can apply for your free zone visa in just five simple steps:

  1. Step 1: Register for E-Channel services.
  2. Step 2: Entry permit.
  3. Step 3: Status change.
  4. Step 4: Medical fitness test and Emirates ID registration.
  5. Step 5: Residence visa stamping.

Do I have to close my bank account when I leave Dubai?

It is not enough to simply empty your account and leave the country as banks can charge a monthly account fee once your salary payments stop going in and the balance remains at zero; this can catch up with you if you ever plan to return to Dubai. To close an account, simply complete a closing form at any branch.

How much is a free zone visa?

The visa application fee is AED 4,670. This includes the visa fee, typing fees, medical test, residence visa stamping, and Emirates ID card. An additional fee of AED 920 is due if the visa applicant is in the UAE. A security deposit must be made of AED 2,500 (refundable upon cancellation of the visa).

What is the cheapest Freezone in UAE?

Ajman Media City is the cheapest free zone in UAE. This freezone offers investors a range of business activities and business license types at the lowest cost.

How long is free zone visa?

Free zone visas can be obtained from the Immigration Department (not the Ministry of Labour), and are valid for three years. After this time, you’ll need to renew the visa, in order to continue living and working in the country.

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Which is the best free zone in UAE?

List of best free zones in the UAE:

  • Jebel Ali Free Zone Authority (JAFZA)
  • Dubai Multi Commodities Centre (DMCC)
  • International Free Zone Authority (IFZA)
  • Fujairah Creative City Free Zone.
  • Sharjah Media City Free Zone (Shams)
  • Sharjah Publishing City Free Zone (SPCFZ)
  • Ras Al Khaimah Economic Zone (RAKEZ)

How do Dubai free zones work?

Essentially, free zones or free trade zones in Dubai are business zones where companies operating in them are exempt from all types taxation such as Value Added Tax (VAT), Income Tax, Corporate Tax and Customs. Business owners in the free zone areas in Dubai have 100% ownership of the business.

What are financial free zones?

Financial free zones (FFZs) are free zones engaged in financial activities. In the UAE, there are currently two FFZs: the Global Marketplace Abu Dhabi (under construction) the Dubai International Financial Centre (DIFC)

What is the minimum basic salary in UAE?

The ruler of the emirate of Sharjah has increased the minimum wage for United Arab Emirate (UAE) nationals to AED 25,000 (US$6,800) from AED 17,500.

What is the benefits of Freezone visa in Dubai?

Benefits of the UAE Free Zone Visa 100% foreign national ownership with no local affiliation. Exemption from personal, import, and export taxes. Exemption from corporate taxes for a fixed period of time with option for renewal. Availability of long-term leasing options lasting up to 25 years.

What is meant by free zone in UAE?

What is a free zone? Free zones are geographically demarcated areas within the UAE (even if most of them are not fenced or gated) permitting 100% foreign ownership and are in most cases, dedicated to a specific industry.

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