UAE Free Zones are places set aside in the country where foreigners are allowed to fully own and run their businesses. Foreign nationals from all over the world may consider Free Zone Company Formation in Dubai, UAE.
Due to the business support measures provided by the UAE Government and the Free Zone Authorities, the Free Zones of the UAE have grown to be the primary trading center of the region. With a low company registration charge, anyone in the UAE can easily establish a free zone firm. Dubai free zone company setup cost starts from AED 17,900*.
Due to its stable political environment, secure way of life, effective law and order, tax haven status, and numerous other economic advantages, the UAE is a popular place for foreign investors to start a business. In the United Arab Emirates, there are more than 45 free zones, and each of the major free zones is home to more than 8000 businesses. UAE free zones are distinctive and a top location for business establishments due to qualities like business freedom and no tax jurisdiction.
UAE Expansion is a group of qualified experts who can manage the entire task of registering a free zone company in the United Arab Emirates. For investors, we provide as a single-window solution to cut down on the headaches of setting up a free zone company in the UAE and complete everything as quickly as possible.
What is a free zone?
An investor may engage in commerce or any other commercial activity in the defined region with the aid of a free zone license, which is a legitimate business document in the UAE. The business owner can apply for the appropriate Free Zone License depending on the specific business activity.
After the investor registers the company, the relevant Free Zone Authority issues the investor a Free Zone License. It’s crucial to pick the best business venture while starting a firm. The UAE’s Free Trade Zones offer numerous economic advantages to those who register their companies there.
Documents required for Free Zone company formation in Dubai
Documents required before establishing a company in the Dubai Free Zone The following papers must be submitted by the investor and approved by the Arab embassy or the Gulf Cooperation Council:
- Application for a license.
- Business card
- Expenditures in the business plan.
- Passport copies of the MOA (memorandum of association) and AOA (articles of association).
- If necessary, include a banking reference and the partners’ current business license.
How to Register a Company in the UAE’s Freezone?
Three major procedures must be taken before UAE Free Zone company formation: obtaining a business license, obtaining a UAE residence visa, and opening a corporate bank account. When correctly planned, the entire process of starting a firm should take between one and four weeks.
Every business that operates in the UAE Free Zone must have a business license (also known as a trade license). Each business license has an annual renewal requirement and is only good for one year from the date of issuance.
When a free zone company is formed, several UAE free zones demand a minimum amount of paid-up share capital. Each Free Zone’s regulations will determine how much share capital is required.
We recommend that you check over the primary processes of business setup in the Dubai free zone to help you get ready for the company registration procedure.
1. Decide the type of license and a business activity
The maximum number of activities that can be added to a license varies depending on the Free Zone. However, the general regulation for all Free Zones is that no commercial activity can be combined with service activities in one license.
2. Select a free zone
Each UAE Free Zone has a different set of permitted activities that may be carried out there; in addition, each Free Zone may have different sorts of amenities and visa quotas. For this reason, it is strongly advised that you seek professional advice when selecting the ideal Free Zone for your company.
3. Decide on your corporate structure
A new company with individual shareholders, a subsidiary company with corporate owners, a joint venture company with a mix of individual and corporate shareholders, or a branch of a domestic or foreign company are all possible corporate structures. You should check with the free zone of your choice as some business activities are only permitted for Branch Companies.
4. Choose the trade name and prepare the documents
Prepare the list of documents necessary by the selected Free Zone and rank your top three preferred company name possibilities. A passport, visa, Emirates ID (if applicable), NOC for UAE Residents (for Free zones), proof of home address, and a professional CV are among the usual documents required for the registration of a new firm. For the registration of Branch firms, a different set of paperwork is needed.
5. Submit an application for initial approval.
Initial clearance typically covers the planned company structure, the chosen business activity(ies), and the company name.
6. Sign documents for the corporation of your company
A face-to-face meeting (or video call) with a free zone representative must be scheduled once the initial authorization is received. By giving your representative Power of Attorney and certified paperwork, it can occasionally be avoided. The shareholders’ or UBOs’ passports will be checked during the meeting, and documents like the Articles of Association (AOA), Board Resolution, and Specimen Signature Form will be signed.
7. Set up a business location.
You must locate the business property for your firm inside the selected Free Zone if you want to proceed to the licensing process’ final stage. Once you’ve chosen a good alternative, you need to sign a lease agreement (for at least a year) and get the Ejari Certificate.
Based on how your license will be issued and the address of your tenancy contract, both must be given to the free zone. There may be additional paperwork needed depending on the type of facility (Flexi-desk, business center office, physical office, warehouse, or retail space).
8. Collect company licenses
Once all funds have been made, all approvals have been received, and the registration forms have been signed. Other business documents will also be granted at the same time as the license.
Here are the key steps to free zone company formation in Dubai.
- Determine the type of legal entity.
- Choose a trading name.
- Apply for a business license.
- Choose an office space.
- Get pre-approvals, register your business, and get your license.
Start a free zone Company in Dubai
It is possible to register a Free Zone corporation with or without an office. To facilitate imports and exports, the company needs to obtain an Import Export Code and register with the Chamber of Commerce.
A Tax Residency Certificate from the UAE can be obtained once the firm has been incorporated for one year. The Double Taxation Avoidance Agreement (DTAA) allows investors to benefit from tax savings in their home nation.
Additionally, a bank account for a free zone company can be opened in any bank in the United Arab Emirates that offers active internet banking, debit cards, credit cards, checkbooks, and other trade facilities.
Free Zone Company Formation in Dubai in essence, the most practical way to advance Middle Eastern business. Connect with UAE Expansion to learn more about company registration in Dubai free zone and the cheapest free zone in UAE.
