Abu Dhabi is one of the wealthiest countries in the UAE in terms of Gross Domestic Product (GDP) and per capita income. Abu Dhabi is the federal capital of the United Arab Emirates and the largest of the 7 emirates. Setting up a business in Abu Dhabi could be your life-changing decision. If you wish to do so, Here are the things you need to know to set up a business in Abu Dhabi.
Abu Dhabi occupies more than 80% of the country’s total land. There are several free zones in Abu Dhabi, which offer a good atmosphere for business setup and provide a pool of opportunities for foreign investors. Like BMS Auditing, there are several auditing companies in Abu Dhabi to help companies grow in the free zones.
Free zones in Abu Dhabi are a part of the Emirate’s economic diversification initiative to boost the indigenous economy and promote foreign investment. Business setup in free zones comprises primarily media and light companies, logistics companies, and medium & heavy industries. There are many stimulus and facilities that shareholders receive by setting up a company in Abu Dhabi free zones, which drives to form company in Abu Dhabi.
Benefits of Company Formation in Abu Dhabi.
1. 100% foreign ownership.
2. Full return on profits and capital.
3. Zero import or re-export duties.
4. Zero personal income tax.
5. Zero currency restrictions.
6. Zero restriction on foreign talent or employees.
7. Business-friendly legal framework and company laws.
READ MORE ABOUT TAX RESIDENCY CERTIFICATE UAE
List of Freezones in Abu Dhabi.
1. Abu Dhabi Airport Free Zone (ADAFZ).
3. Abu Dhabi Ports Company (ADPC) Free Zone.
4. Abu Dhabi Global Markets Free Zone (ADGMFZ).
5. the Industrial City of Abu Dhabi.
6. Higher Corporation for Specialized Economic Zones.
7. Khalifa Industrial Zone Abu Dhabi (KIZAD).
Procedure to set up a business in Abu Dhabi free zone.
1. Choose the type of business activity.
2. Register trade name.
3. Obtain approvals from the free zone authority.
4. Issuance of License.
Documents Required to form a company in Abu Dhabi Freezone.
1. Company Application Form.
2. shareholder's Passport copies.
3. Passport size photographs.
4. Specifications of the business activity.
5. Number of visas required2 x Proof of Address.
6. Bank Reference Letter.
If you are planning to set up business in Abu Dhabi free zone the Abu Dhabi Free Zone is the best option. Companies that are registered in the free zones and own a free zone trade license are required to submit an audited annual financial statement for free zone trade license renewal. BMS Auditing can help you to know about all company formation rules and regulations in Abu Dhabi free zones. Contact us to set up your dream in Abu Dhabi, our team will help you fulfill it.