If ever there was a good time to take the plunge and start your own company in the UAE, now must be it.

With a government that is openly encouraging entrepreneurs to have a go along with the prospect of Dubai Expo 2020 and all the opportunities it will afford, it is hardly surprising that free zone trade licences are in demand.

And the UAE Ministry of Economy is keeping this momentum going, recently meeting with officials of several free zones including twofour54, Masdar City, Dubai Airport Free Zone, Dubai Creative Clusters Authority, Dubai Silicon Oasis Authority, and Ajman Free Zone to strengthen partnerships and mutual cooperation.

For those who are unclear, a Free Zone is basically a free economic area and registering a trade licence in one has several benefits for start-ups. These include 100 per cent foreign ownership, repatriation of capital and profits, free transfer of funds, and exemption of import and export duties. Free zone company formation is also much quicker than incorporation outside and is generally less expensive.

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