How To Do Business Setup in Dubai Free Zone?
Dubai is known to be one of the most fast-advancing places on the globe. Be it the excellent infrastructure, brilliant technology, ample government fasciitis, and support, as well as a lucrative business environment. Consequently, Dubai is one of the most preferred places to do business. And hence, if you are one of those people thinking of a business setup in Dubai free zone, you’re thinking in the right direction.
Dubai has a lot to offer when it comes to doing or starting a new business in the country. Hence, many budding entrepreneurs rush to the city to start their own companies. If you are planning to start a company of your own in Dubai, we suggest you read further. You will find all information there is on how to do the business setup in Dubai free zone mentioned further.
What is The Process for Business Setup in Dubai Free Zone?
The Dubai government has made it very easy to set up a business in the city over the years. Now, all you have to do is follow a few steps, complete documentation, and acquire your business license in just a matter of 3 to 4 days. Further, to make it even easier for you, we have listed down the important steps for business setup in Dubai free zone below.
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Legal Structure
Decide the legal structure of your business. It can be either an LLC (Limited Liability Company) or a brand of an existing foreign company.
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Business Activities
Based on the legal structure of your company, decide the type of business activities you want to conduct. You can select the business activities from a list provided by the DED. Also, if the activity you want to conduct is not there in the list, you can obtain external approval for the same.
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Trade Name
Once you have selected your activities, you should decide the trade name. Choose a suitable trade name and reserve it with the DED. Also, make sure it is not the same as any existing company. Additionally, do not use any foul words, avoid the use of abbreviations and ensure that it is easy to read. Moreover, if you decide to name it after a person, make sure you use their full name.
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Office Space
Now, you need to rent an office. Select an appreciated location and then rent an office there as per the nature of your business. Moreover, check the space for being sufficient enough to conduct business activities smoothly. Also, all work-related or professional documents will be sent to your official address.
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Tenancy Contract
Once done, register on Ejari to get your tenancy contract. Note that it is compulsory to register on Ejari. Then, get your unique Ejari number and the tenancy contract. Without a tenancy contract, you will not be issued a license.
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Initial Approval
Submit the trade name reservation payment slip with DED, to get your initial approval.
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Business License Type
On the basis of the type of business activities you selected, choose which license you need. The government mainly offers 4 types of business licenses, which are industrial license, professional license, commercial license, and tourism license.
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Documentation
Collect all the important documents like MoA, AoA, initial approval certificate, identity proves, and other important business incorporation documents and then submit them with DED. Double-check all the documents before finally submitting them. If all seems right, the authorities will issue your business license.
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Complete the Payment
The DED will send you an email with the payment voucher. Complete the required payment for your business license. Make sure to complete the transaction within 24 hours of your license issuance.
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Bank Account
Open a company bank account and apply for a visa.
Why Set Up a Business in Dubai Free Zone?
It’s only natural to wonder about what does business setup in free zone has to offer. Well, read further to find out all the benefits you get by a business setup in a Dubai free zone.
- Get 100% foreign ownership.
- Freedom to repatriate 100% of capital and profits.
- Total exemption from corporate, personal, as well as income taxes.
- Zero foreign exchange controls.
- Zero import and export duties.
- Easy recruitment procedures.
- Flexible legal framework.
- Easy availability of offices to rent.
- Easily get warehouses spaces.
- Easy incorporation procedure.
- Hire expatriates without any restrictions.
What are the Documents Required for Business Setup in Dubai Free Zone?
A list of important documents required for business setup in Dubai Free Zone is given below:
- Properly filled and signed application and license form.
- Memorandum of Association and Article of Association.
- A copy of your business plan.
- Copy of passports of you and all your business partners.
- Visa copies of the partners, business managers, as well as employees.
- An original bank reference letter.
- Payment slip of the trade name reservation.
- Initial approval certificate.
- Your unique Ejari number and the tenancy contract.
- Business identity proofs.
- Copy of incorporation certificate.
- Board resolution ( in case of a branch)
- Colored passport size photographs. Check for the required dimensions.
- Set Up Your New Business in Dubai Free Zone Today!
After you read the process and benefits for business setup in Dubai free zone, we are positive that you would want to set up one of yours. But, if you are new to this, and do not know the basic process, it is advised to seek professional help before starting anything. Similarly, you can get in touch with the experienced business consultants at Shuraa Business Setup for professional guidance and support. Moreover, our experts will walk through the whole process of business setup in free zone and assist you with registration, paperwork and getting your license at a very low cost. All you need to do is call us and let us know your requirements and expectations.
Book a free consultation with our experts to know more about business setup in Dubai free zone, or you can also call +971 44081900. You can also send a WhatsApp message at +971 50 777 5554. For email assistance, mail your query at info@shuraa.com.
