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Setting up a Free Zone Company (FZCO)
Also know, what is the difference between LLC and FZE? LLCs can trade directly with the local market, any free zone, or outside UAE without any restrictions. This applies to all commercial and professional licenses. A freezone license can be incorporated with or without a physical office. … You can easily find offices in Business Bay, Media City or JLT business centers.
Moreover, is Fzco an LLC? You can register a new company as a Free Zone Establishment (FZE) or a Free Zone Company (FZC, FZCO, or FZ-LLC). … Free Zone companies are in generally limited liability companies (LLC).
Also the question is, what does FZ mean in Dubai? In a free zone, you can set up one of the two types of companies: Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.) Free Zone Establishment (FZE)
Similarly, what are FZE companies? An FZE or FZC is a limited liability company governed by the rules and regulations of the Free Zone in which it is established. Free Zone Establishment (FZE) is a single share holder limited liability company which can be incorporated in all UAE Free Zone.
What is the meaning of Freezone in UAE?
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.
What does FZE mean in Arabic?
A Free Zone Authority offers business licenses to foreign-owned businesses. Each Free Zone is designed around one or more industry categories and only offers licenses (e.g. for a Free Zone Enterprise (FZE)), to companies within those categories.
Can a Freezone company trade in mainland?
A company established in Freezone can carry out business in Mainland subject to the restrictions imposed by the law of the UAE. … The Free Zone trading company can export the goods to the Mainland companies by following the UAE Customs procedures.
What is the difference between mainland and Freezone?
The fundamental difference between mainland and free zone is that Free Zone Company cannot conduct its operation in non-free zone without the support of a local agent whereas a mainland company freely operates its business activities anywhere in UAE. There are numerous free zones in Dubai.
What is the difference between Free Zone Company and free zone Establishment?
Free zone Establishments have single shareholder. Whereas a Free zone Company are similar to limited liability company. A free zone company has 2 or more shareholders. Even though both provide the same functioning and operational measures, the major difference is in the share capital requirement.
What is a FZ LLC company?
Free Zone Limited Liability Company (FZ-LLC) A Free Zone Limited Liability Company (FZ-LLC) is formed as a separate legal entity, with shareholders as individuals and/or corporates. The minimum capital requirement for incorporation depends on the business activity.
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.
Which Free Zone is best in 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)
What is Freezone 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 offshore company in UAE?
Offshore Companies in UAE should not be confused with UAE Free Zone companies. An Offshore Company is a legal business entity that is set up with the intention of operating outside its registered jurisdiction and/or the location of its ultimate ownership.
Can a Freezone company own property in Dubai?
All free zone companies in Dubai are permitted to own property in the so-called Designated Areas. The free zones in Dubai include DMCC, Dubai Internet City, Dubai HealthCare City, Dubai South and many more. Free zone companies, which are formed in other Emirates, are not allowed to hold property in Dubai.
