Dubai is one of the most business-friendly emirates in the whole world. It has become a hub for business investors and entrepreneurs due to the existence of the free zone business entity.
Setting up a business in Dubai free zone comes with many advantages. You will enjoy complete foreign ownership of your business and the tax and repatriation benefits.
Therefore the investors are more eager nowadays to get more advantages the free zone in Dubai offers. So are you looking to set up your business in Dubai free zone? Then read through the blog to learn how to start a Dubai free zone company and form your company in Dubai free zone.
Steps to Incorporate a Dubai Free Zone Company:
Forming a company in Dubai free zone is a long process. To incorporate a business in the emirate needs to go through certain stages, which are as follows:
1. Choose the Business Entity-
The first step is to get a clear idea about the types of company you want to form based on the different requirements in the Dubai free zone. There are three types of free zone business entities in Dubai:
- Free Zone Installation
- Business in Free Zones
- Branch Office.
Choose the appropriate one based on the business necessities.
2. Finalize the Trade Name-
Chose the appropriate name of your company according to the conventions of the government after you decide on the legal entity of your business. So follow the naming conventions imposed by the UAE government and finalize the name for your business. Finally, you have to issue your trade name to the Department of Economic Development (DED).
3. Obtain the Business License-
In the next step, apply for a business license. There are various licenses available in the Dubai free zone related to Trade, General Trade, Operation, Setting up Industry, etc. Obtain the appropriate ones according to your business. For example, to open a restaurant business in Dubai free zone, you must obtain a restaurant license.
4. Select the Office Space-
Once you are done with obtaining the trade license, your business will require an office space to function. Therefore the next stage is to finalize the office space for your business in the next step based on the business requirements and employee numbers. In free zones, you may either buy or lease office space.
5. Register Your Business-
In the last step, get approval from the government authorities by submitting all documents and obtain your business license in Dubai free zone. The documents that need to be submitted are as follows:
- Business card
- Application of license
- A form of your Business Plan
- MOA and AOA
- The license of your business partners
- Copy of your passport
Once you submit the documents, you will be able to obtain the license and can start your business in Dubai.
You already know from the stages mentioned above that the company incorporation process is no easy task for a foreign individual to carry out.
How many free zones are operating in Dubai?
More than 40.
What are the authorities regulating the free zones in Dubai?
● Dubai Commerce City (DCC) Free Zone
● Dubai Creative Cluster Authority
● Dubai Multi Commodity Centre (DMCC)
What types of businesses are allowed in Dubai free zones?
● Free Zone Establishments
● Free Zone Enterprise
● Branch Office
What is the validity time for a business license in Dubai free zone?
How long does it take to obtain a trade license in Dubai freezone?