Dubai, United Arab Emirates - The Executive Centre highlights the importance of free zones in the UAE for SMEs and how much they can benefit from it. It is highly recommended for SMEs as many effective solutions are available for setting up in the free zone areas.
First of all, there is a lack of restrictions on currency exchange in the free zones of the UAE. This is why it is easier for financial transactions to take place and help SMEs thrive. This is because they can access foreign currency easily and benefit from it.
Experts at The Executive Centre also revealed another advantage that makes the foreign investment SMEs more manageable, “One of the best things about UAE’s free zones is that they do not require a national sponsor for a company to be formed. So foreign investors can choose to own a company in the free zone completely, and their nationality will not restrict that.”
Moreover, company owners in the free zone are exempted from paying import and export duties, making international trade for SMEs. According to TEC, UAE free zones are ideal because there are office spaces readily available for business set-up.
TEC also emphasises another essential fact, “Since free zones offer ready-made spaces, it is much easier for startups and SMEs to find a place there than anywhere else. Moreover, it is a cost-effective solution and offers a lot of financial and legal benefits.”
The Executive Centre is an exceptional business centre in Dubai that helps businesses set up in Dubai’s free zone area near World Trade Center and provide exceptional support to the business throughout the process.
About The Executive Centre:
With over 25 years of expertise in flexible workspace solutions, we are the third-largest office space provider in Asia, with a network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, Australia, and the Middle East. Our Executive Centres are iconic and immersive spaces that maximise functionality and ergonomics. Featuring advanced infrastructure and unparalleled service, we are located in Grade A buildings of Asia’s most sought-after business districts.