Advantages

No. A freezone licence allows full foreign ownership without a UAE national partner, which is one of the main reasons businesses choose this route. The number of owners and the legal form, such as a Sole Establishment for a single owner, depends on the freezone's own rules and the activity chosen.

Costs vary by freezone and are not fixed, since there are around 30 freezones in Dubai with different fee structures, office requirements and shareholder limits of up to 50. Formation and licensing costs are quoted with a proposal once the activity, visa needs and shareholder structure are known.

Most Dubai freezones allow up to 50 shareholders in a single company, though the exact limit depends on the specific freezone and legal form chosen. A solo entrepreneur with a single owner instead incorporates as a Sole Establishment, which is treated as a proprietorship rather than a multi shareholder company.

A Sole Establishment is the legal form used when there is only one business owner, functioning much like a proprietorship rather than a company with multiple shareholders. Whether it suits a particular business depends on the intended activity, liability preferences and the rules of the chosen freezone.

Most freezone licences require audited financial statements as a condition of licence renewal, though the exact requirement depends on the specific freezone. Companies should keep accounting records for at least five years regardless, since these underpin both the audit and any tax filings.

Setting up typically involves drafting or reviewing memoranda, shareholder agreements and licence applications, and confirming which activities the chosen freezone permits. The legal work required depends on the ownership structure, number of shareholders and whether visas or additional approvals are needed, and is scoped once these details are known.