Many investors around the world are interested in establishing a company in the Dubai Free Zone, that operates under its own special economic laws, distinguishing it from other regions governed by the emirate. It offers numerous facilities and benefits, with one of the most significant advantages being the speed of establishment. If you wish to complete all the procedures as quickly as possible, then you should seek the assistance of Tasyeir prominent company specializing in company establishing.
Establishing a Company in the Dubai Free Zone
Dubai has managed to become one of the most important financial centers in the world in a short period of time.
This can be attributed to its significant economic factors, including its strategic geographical location that connects Asia and Europe.
Additionally, Dubai is committed to providing comfort and exceptional facilities for its clients, especially in the Free Zones.
There are currently 24 Free Zones in Dubai, covering various important investment sectors such as media, gold, healthcare, telecommunications, and more.
What does “Free Zone” mean?
Free Zones are areas designated by a country for conducting commercial or industrial operations without the restrictions imposed by customs authorities on imports and exports.
In these zones, you can work, trade in available goods, store merchandise, and re-export without paying any fees. That’s why they are called “Free Zones.”
Steps of establishing a Company in the Dubai Free Zone
Each Free Zone has its own specific laws and regulations for company formation, but generally, there are certain steps you need to take to establish a company in the Dubai Free Zone:
Choose the business activity
You should start by determining the type of activity you wish to engage in.
This will determine other factors such as permissible legal structures, among others.
Determine the legal structure
There are various legal structures available for company formation in the Free Zone.
You must select one that aligns with your chosen business activity. Some options include:
- Free Zone Limited Liability Company.
- Free Zone Establishment.
- Free Zone Company.
Note that not all Free Zones require this step, so make sure to check with the relevant authorities of the Free Zone you intend to operate in.
Register the trade name
This step is similar to the process followed in the Economic Development Department.
You should choose a unique trade name that is compatible with your business activity.
The name should be appropriate and should not contain offensive or culturally inappropriate terms.
Choose a workspace
You can select from the available offices in the Free Zone, whether for purchase or lease.
If you obtain a Freelancer License, you can opt for a virtual office facility.
The contract is prepared by the Free Zone authority, taking into consideration the number of employees and the nature of the work you will engage in.
The authority will provide the necessary office requirements, such as facilities and technical setup, including phones and communication networks, among others.
Initial Approval
In order to register your establishment, you need to obtain initial approval from the Free Zone Authority. This is one of the most important steps in establishing a company in the Dubai Free Zone, and the required documents include:
- Submission of a company formation application form, providing all the required information.
- Submission of the ownership or lease contract for the company’s headquarters.
- Signatures of the company shareholders, if applicable.
- Copy of the passport.
- Copy of the trade license.
- Financial reports showing the financial status of the shareholders for at least the past two years.
- Business plan outlining your intended operations.
Company Registration
Once you receive the initial approval, the next step is to pay the fees for both company registration and the trade license.
To complete the registration process, you need to bring the following documents:
- Registration application form, filled out with all the required information.
- Resolution appointing a manager for the company, duly notarized, along with the legal agency.
- Memorandum of Association (MOA) of the company, duly notarized.
- Documentation verifying the capital amount.
- Passport-size photo of the company manager with a white background.
Please note that these translations are provided to the best of my ability, but it’s always recommended to consult official sources or professional translators for accurate and up-to-date information.
What are the Free Zones in Dubai?
Dubai has a large number of free zones, each with its own distinct laws tailored to accommodate the specific type of activity it offers.
Some of the most well-known free zones in Dubai include:
- Dubai International Financial Centre.
- Ali Mountain Free Zone.
- Dubai South.
- Dubai Production City.
- Dubai Internet City
- Dubai World Trade Centre.
- Dubai Design District.
- Dubai Gold and Diamond Park.
- Dubai Healthcare City.
- Dubai Silicon Oasis Authority.
- Dubai Studio City.
- Dubai Maritime City.
- Dubai International Humanitarian City.
- Dubai Academic City.
- Dubai Auto Zone.
- Dubai Science Park.
- Dubai Production City.
Please note that these are just some of the free zones in Dubai, and there may be others as well.
Each free zone offers its own unique advantages and incentives for businesses operating within its jurisdiction.
Advantages of Working in Dubai Free Zone
Due to the benefits offered by free zones to investors, many have started establishing companies in Dubai’s free zones.
Each free zone has its own laws tailored to suit the specific requirements of the specialized work, and some of the key advantages include:
- Establishing a company in the Dubai free zone is exempt from taxes up to 100%, which can last for several years and is renewable.
- There is a wide range of business sectors to choose from due to the abundance of free zones established in Dubai.
- There are significant facilities and flexibility in obtaining the required papers and documents for obtaining the trade license.
- You can open a bank account for your company established in any of the free zones in Dubai.
- If you decide to liquidate your company at any time, you can retain all the assets belonging to it without losing any of them.
- As a foreign investor, you can own your company 100% without having to involve any Emirati citizen.
- No fees are imposed on import and export operations.
- You can establish any branch of the company, even if its headquarters are located outside the UAE.
- Working in a Dubai free zone offers numerous advantages and incentives for businesses, making it an attractive choice for investors and entrepreneurs.
Cost of a commercial license in Dubai’s free zone
Cost of a commercial license in Dubai’s free zone depends on several factors such as the type of business activity, required space, and type of license.
However, the cost of obtaining a commercial license in Dubai’s free zone can range from AED 15,000 to AED 50,000 or more, including registration fees, permits, and other service charges.
It is important to note that these prices are subject to change and may vary from one free zone to another in Dubai.
Therefore, it is advisable to contact a Tasyeir services company for more information about the costs of issuing a commercial license in Dubai’s free zone and the necessary procedures to obtain it.
Leading Tasyeir company in establishing company
If you are searching for establishing a company in the Dubai free zone, then you need a company that can assist you in successfully navigating all the necessary steps to establish a distinguished company. Tasyeir is the ideal choice in this regard, especially with the increasing interest in setting up companies in free zones due to the benefits they offer, which has led to a growing number of competitors.
