Company formation in Dubai has reached new heights. More and more companies are looking to set up businesses in Dubai Free Zones. The city has over 21 Free Zones offering a wide range of industry-specific facilities to gain competitive advantages making it a great opportunity for foreign investors looking forward to doing more business in Dubai.
The Dubai free zone market continues to grow and we can also expect more and more growth given the number of benefits it offers to the business owners. Dubai has always been an important part of the global market, and the continued interest in UAE has only increased over the last few years. The UAE is a country that has been able to grow thanks to its commitment to education, innovation, and open markets. Therefore, the growth of Dubai free zone company formations have been increasing as well .
Creating an environment that encourages business and investment from all corners of the world is a recipe for success, and that is what the UAE has been able to do and continues to do. The UAE has a variety of different free zone options as well.
UAE Has Reported 4.4% Year On Rise In The Total Number of Companies
As per the official figures that have been released, it was found out that 4.4% year on year rise has been witnessed by UAE in the total number of companies operating in its free zones from all across the globe. According to the UAE’s National Economic Register (NER), there were only 60,600 registered businesses in UAE’s business, which are quite significant numbers. “The growth is reflective of the successful business continuity along with all those plans for disaster recovery, which were adopted by the country in order to lure foreign business to work across the nation amid the global economic slowdown triggered by the pandemic since the second quarter of 2020,” WAM, the UAE state news agency, said in a report.
As per the figures of NER's, free zones in UAE account for about 8% of the total number of companies that have been registered with the United Arab Emirates. And the majority of them are situated in Dubai and Abu Dhabi. Moreover, the NER has also said that around 3.087 foreign companies had successfully set up their branches in the country at the end of January.
So this was pretty much all you needed to know about the growth of free zones in the UAE. Hope the information helps you out. In case you are someone who is looking forward to enlisting the affordable and reliable services of Dubai free zone company set up, then there is barely any option better than relying on “Quickstep Business consulting”.
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