The Free zones in the UAE are renowned globally for the amenities that they provide to new entrepreneurs. These facilities are unmatched in the world. The free zones, for these reasons, emerged as one of the great areas of investment globally for all kinds of investors, irrespective of size.
Do you want to get the facilities of a free zone but can not decide on which one will be the cheapest? You can consult experts’ advice on AD SME Hub. They are experienced enough to provide you with deeper insights and thorough knowledge of business development and investments in the UAE.
Let’s study which one is the cheapest free zone in the UAE among all the 12. Let’s get started here.
Which Is The Cheapest Freezone In The Uae?
The free zone in UAE is almost equal in providing you with facilities. You get different kinds of benefits if you operate a business there. Based on a comparative analysis, we have created a list of five of the best free zone in the UAE, and they include:
- Sharjah Research Technology and Innovation Park.
- Ajman Media City.
- Sharjah Media City Freezone.
- 4.Ras Al Khaimah free Zone.
- International Freezone Authority Dubai.
So it is clear from the ranking that we have put Sharjah Research Technology and Innovation Park above all the others.
Sharjah Research Technology and Innovation Park (SRTIP)
This free zone in Dubai is a gem in its realm. This is the reason why this comes in our ranking as the cheapest free zone.
STRIP is UAE’s 10-year plan to elevate the country among the best in developing renewable technology. Renewable technology is a sophisticated technology, and extensive research and development go into developing some products and services.
In this free zone, you can set the business on renewable energy, water management, transport and Logistics, production, and design industrialized solutions to meet humanity’s imminent issues and concerns.
If you have some product or service on renewable energy, welcome to Sharjah Research Technology and Innovation Park. Here you can conduct business in three categories:
Now, a question might crop up, what exactly are the benefits that Sharjah Research Technology and Innovation Park provide to its investors?
What Are The Benefits That You Get In The Free Zone?
In this section, we are going to study the benefits that you get with free zones. Let’s discuss all of these here to get a clear idea.
1. 100% Foreign Ownership
When you open a business in the UAE, you don’t get 100% ownership. The ownership that you get here is less than 50%. You have to be a partner of an Emirati business entity supported by the government. But here, you get 100% ownership of the foreign business.
2. Corporate And Professional Tax Exemptions
When you open your company in the SRTIP, you are going to get different kinds of corporate and professional tax exemptions. This strengthens your business development capabilities because you end up saving important dollars in business.
3. Easy Set Up
These kinds of businesses that deal in sophisticated technology like renewable energy development need different kinds of setup-related requisites. There are complexities and entanglements.
But the SRTIP authorities will provide you with the required inputs. This facilitates the easy and smooth setup of your manufacturing plant.
4. Import and Export Duty Exemption
Important and Export duty exemption! What more do you need to focus extensively on the core technology?
The exemption you get there takes you steps ahead in developing your business. If you save some valuable dollars in your business, you could inject them into further research and development of your technological solutions.
Wrapping It Up
It can be said that Sharjah Research Technology and Innovation Park offers crucial benefits to potential investors. All free trade zones offer different benefits to companies exploring new business opportunities in Dubai. Businesses make the best use of these benefits to expand and prosper.