If you really want to start a business, Free zone Dubai is the best place to do so. Because Dubai is a zero-tax regime, there are no personal or corporate income taxes. There are numerous benefits to establishing a business in Dubai . There is no taxation, many free zones, world-class technology, beautiful geographical locations, and first-class infrastructure. Dubai is known for its secure and robust governance, as well as its status as a world-class financial hub. A well- educated pool of human capital with diverse professional expertise from all over the world. If you want to be a part of Dubai’s dazzling and lavish lifestyle and are eager to experience a new environment and culture while earning money by starting your own business, then this guidance will help you get there.
Before going to detail please take a look first at the Authorities which regulating free zone activities
These authorities depend on different location so first choose your location which suits you, then refer to the websites of free zones and the authorities for example if you want to check in Abu Dhabi then please go to Abu Dhabi section to see given authorities:
Abu Dhabi
- Abu Dhabi Airport Business City
- Abu Dhabi Media Free Zone – (Media Zone Authority)
- Masdar City
- Khalifa Industrial Zone Abu Dhabi ( KIZAD)
Dubai
• Dubai CommerCity (DCC) free zone
Under Dubai Creative Clusters Authority :
- Dubai Internet City
- Dubai Media City
- Dubai Production City
- Dubai International Academic City
- Dubai Science Park
Under Dubai Multi Commodities Centre Authority:
- Dubai Multi Commodities Centre (DMCC)
- Jumeirah Lakes Towers (it is now part of DMCC)
Others:
- Jebel Ali Free Zone (Jebel Ali Free Zone Authority)
- Dubai Airport Free Zone (Dubai Airport Free Zone Authority)
- Dubai Silicon Oasis – (Dubai Silicon Oasis Authority)
- Dubai HealthCare City – (Dubai Healthcare City Authority)
Check out this link for More location authorities:
https://u.ae/en/information-and-services/business/starting-a-business-in-a-free-zone
Follow these 5 crucial steps to set up a business in a free zone.
It is relatively simple to establish a business in a free zone. The free zone authorities require the least amount of documentation and the shortest amount of time. Here are the essential stages for establishing a business in a free zone.
1. Determine the type of legal entity
First of all, you must decide what form of legal organization your company will be. And then, you can establish any types of business from these two below mentioned companies in a free zone. The difference among these two is just the number of shareholders and whether these shareholders are natural or legal persons. It can also possible that not all free zones will be able to register both forms of businesses. As a result, you should also enquire with individual free zone authorities about the types of companies that can be registered. Refer to the above-mentioned list of free zone authorities.
- Free Zone Limited Liability Company (FZ LLC) or
- Free Zone Company (FZ Co.)Free Zone Establishment (FZE)
Check the Branches and capital requirements from link:
https://u.ae/en/information-and-services/business/starting-a-business-in-a-free-zone
2. Choose a trade name
Following the completion of the first step of deciding the type of legal entity, you have to select an appropriate trade name. In most situations, you must first check with the selected free zone authority or the department of economic development about the acceptable trade name, you should also confirm if the name is already taken or registered. There are some restricted trade names that you are not allowed to choose.
Follow this link for” list of restricted trade names”
3. Apply for a business license
The next step is to apply for a license. Which type of business license you will apply is depends on the core activities of the business. Some of the business activities that you can operates are:
- Advertising
- Corporate print material
- Film production
- Graphic design
- Music videos, etc.
These all activities can be seen here:
https://www.twofour54.com/en/business-setup/business-activities/
Choose an office space
To setup a business you must also buy or rent a place in free zones. The space requirements are totally depending on how many employees you will have and also it depends on type of business activities your company will conduct; these activities can be seen in above steps.
Get pre-approvals, register your business, and get your license
You should know that the companies that are established in free zones are controlled by the rules of the respective free zone. It means that your company must follow the rules that are made for your free zones. You will apply for approval with all your necessary documents. The documents depend on varies things for example:
- Depend on types of business activities
- Depend on Types of company
- Depends on the requirements of authority of free zone
The guidelines you need to follow, and documents you need are given in the next step.
6. Documents
Initial approval
For the initial approval you need the following documents:
- Completed application form
- Business plan
- Copy of existing trade license/registration certificate (only for existing local company)
- Colored passport copies of the company’s shareholder/s appointed Manager/Director for the new company
- Specimen signature of the company’s shareholder/s appointed Manager/Director for the new company
- 2 years’ audited financial reports for corporate entity or certificate of reference from a personal bank of the individual shareholder
- NOC from current sponsor (for individuals)Unit title deedLetter of Intent
- Registry Identification Code Form (RIC) for Manager/Director (Original and notarized)
Registration
After initial approval you need to pay the fees for registration and license. These fees can vary according to the type of license you needed. After paying your fees you should submit following documents:
• Completed application for registration
• Board Resolution appointing Manager/Director (Notarised and
attested)
• Power of Attorney given to Manager/Director (Notarised and attested)
- Memorandum and Articles of Association (Notarized and attested)
- Specimen signature of Manager/Director (Notarized and attested)
- Passport-size photo of Manager/Director against white background
- Share capital information
- Memorandum and Articles of Association (Notarized and attested)
- Specimen signature of Manager/Director (Notarized and attested)
- Passport-size photo of Manager/Director against white backgroundShare capital information
License and visa process
The authority will construct your lease agreements and grant your license after you have completed all of the procedures. Following that, your visa application will be processed.
Click the link to check the complete guidance:
https://u.ae/en/information-and-services/business/starting-a-business-in-a-free-zone
