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June 18, 2019
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.
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.
Dubai has more than 30 free zones, each of which offers a wide range of activities for company formation :
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.
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.
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.
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.
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.
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.
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.
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.