Business Setup in Dubai Free Zone | UAE Free Zone Company Setup

June 18, 2019

Business Setup in Dubai Free Zone – A Compact Guide

Over the last couple of years, the world has witnessed the everlasting economy of Dubai and considered it as one of the top business destinations for foreign investors.

One of the seven emirates of UAE, Dubai has one of the finest and state of the art facilities for investors and international companies looking to expand their businesses into other regions.

The government has established new rules and regulations for foreign investors and has made the procedure fast-tracked. Dubai carries the most successful economic perforce within the gulf. It offers a politically stable financial climate, which helps businesses to successfully operate in this region.

One of the best initiatives of the UAE government is to start Free Trade Zones in the country. These free zones are aimed to capitalize on the economic structure of the region. The much attracted low tax system of the emirate makes it perfect for a business set up. Whatever you’re a fully developed company outside the region or wanted to start a completely new business set-up, the city has benefits for all of them.

Here’s a compact guide on how you can establish your business set-up in Dubai with all the key requirements.

Benefits of Having a Business Set-Up in Dubai Free Zone

Free Zones are the most favorable location for many foreign investors because they are equipped with duty and tax exemptions, flexible government policies, state-of-the-art infrastructure, business amenities, and everlasting facilities. Below mentioned are some of the major benefits of having a business startup in Dubai Free Zones.

• 100% ownership for investors
• 100% tax exemptions
• 100% repatriations of profits
• Exclusion of Import/Export Duties
• Warehouse and office facility
• The individual company set up
• International business facilities
• Fewer renewal charges
• Complete secrecy of business
• General Assistance and support services

List of Free Zones Available For a Business Startup in Dubai

Dubai has more than 30 free zones, each of which offers a wide range of activities for company formation :

1. Dubai Academic City
2. Dubai Healthcare City
3. Dubai Internet City (DIC)
4. Dubai Media City
5. Dubai Biotechnology & Research Park (DuBiotech)
6. Dubai Design District
7. Dubai Gold and Diamond Park
8. Dubai World Trade Center Free Zone
9. Dubai Airport Free Zone Authority (DAFZA)
10. Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
11. Dubai Creative Clusters Authority (Dubai Technology and Media Free Zone Authority)
12. Dubai Car and Automotive City Free Zone (DUCAMZ)
13. Dubai Industrial City (DIC)
14. Dubai International Academic City
15. Dubai International Financial Centre
16. Dubai Knowledge Village
17. Dubai Silicon Oasis
18. Dubai South Free Zone
19. Dubai Logistics City
20. Economic Zones World
21. Meydan Free Zone
22. Dubai Maritime City
23. Dubai Techno Park
24. Dubai Outsource Zone
25. Dubai Flower Centre
26. Dubai Studio City
27. International Media Production Zone
28. Jebel Ali Free Zone
29. Meyden Free Zone

UAE Free Zone Company Setup

In order to start a business set-up in Dubai, first, you’ve to specify the type of business activity you wish to carry out in the region. Your business activity helps you to choose the best free zone authority. There are many free zone authority available in Dubai that its easier to find one that suits your needs. However, some free zone authority offers a wide variety of business activities.

DAFZA and DMCC offer the most DED listed activities in the region. For some business startup, you’re required to have a business license. A  license is issued by the DED to carry out a business operation in Dubai.

Types of Business license available in Free Zone

1. Trade License
2. Service/Commercial License
3. Industrial License

Types of legal entities Allowed in Dubai Free Zones

1. Free Zone Establishment
2. Free Zone Company
3. Branch Office

How to Set Up a Business in Dubai Free Zone?

Dubai offers rewarding options for investors around the globe to start their business operations in the region. There are certain formalities that must be completed in order to carry out your business operation in Dubai. These procedures are mentioned below.

Procedure For FreeZone business setup

1. Choose a Business Activity

First of all, choose your business as it will depend on your business license. Many Dubai free zones allow multiple activities but it is important that you specify your business activity.

2. Find a Free Zone

Now according to your business activity, find a free zone in the emirate. There are sector-specific zones that will help you in this process. Apart from this, it’s your choice to select the best free zone.

3. Choose a Company Name

The next step is to choose a company name for your organization and register it with the free zone authority portal. Your business name should be unique in this case. There are also some standards that you should follow while registering your company name.

4. Gather All The Documents

Once you’re done with the company trade name, now is the time to apply for a business license. Type of the license will depend on your business activity. For this, you have to submit the required documentation to the authority and fill out some paperwork.

5. Open a Corporate Bank Account

After you’re registered in the free zone, you can now open a corporate bank account. For this, you’re again required to submit all your documentation with a business license to the financial department.

Documents Required for Business Setup in Dubai Free Zone

• Shareholder Visa/Passport, if applicable
• Application Form
• Business plan
• Board Resolution
• Memorandum and Articles of Association
• Letter of Intent
• NOC from Current sponsor, if applicable
• Registry Identification Code
• Copy of existing trade license

Conclusion:

Dubai free zones are extremely popular among business owners and entrepreneurs around the world. Company formation in Dubai has become easier than ever. Now you can apply online with all your legal documentation. Freedom of doing business, favorable government policies, easy to register portal and huge tax savings lead investors to set up their business operation in Dubai Free Zone.

Setup Dubai specializes in company formation in Dubai free zone and will help you complete your dream as a business owner without worrying about the documentation, residence permit, banking details, visa applications, and every other legal requirement.

Contact Us for UAE free zone company setup and our specialized team will happy to assist you.