Planning to start a business in Dubai? But confused about how and where to start with?
Dubai, one of the favorite destinations for budding entrepreneurs and investors, attracts millions of visitors every year from all around the globe. It is one of the most advanced cities in the world. The major innovations in the field of information, technology, capital, trade, communication, tourism, infrastructure, and others have profited the locals as well as foreigners. In other words, it is a city that offers numerous benefits to its inhabitants, thus making it the best destination for business operations.
Dubai freezone company setup is considered one of the best choices for company formation in UAE. It offers top-class infrastructure, low taxation policy, global networking, and a thriving economy.
Shuraa business setup has a team of experts who can offer step-by-step assistance for an easy, quick, and hassle-free free zone business setup Dubai.
What is Dubai Freezone Company Setup?
Basically, freezones are open trade zones where goods and commodities can be traded at reasonable tax and customs rates, and the owner is the sole proprietor of the company. Freezones are well-known for their flexibility as there is a range of business activities that can be chosen from and started in Dubai.
Companies set up in Dubai freezone can be run efficiently by meeting certain conditions. However, the investment required for company formation varies according to the freezone and the type of business selected.
International Free Zone Authority (IFZA) is one of the ideal options for a free zone business setup Dubai. IFZA stands out for offering numerous benefits and opportunities to investors and their businesses. It has developed as one of the popular zones in the UAE over years.
Advantages of free zone business setup Dubai
- 100% ownership –
Freezone business setup extends complete ownership of the business to the investor, without any intervention of local sponsor.
- Exemption from taxes –
Companies set up in Dubai freezones are exempted from corporate and income taxes out of their business proceeds.
- 100% profit repatriation –
Freezone company owners are allowed to send UAE-earned profits or financial assets back to their home country without any obligations.
- Exemption from customs duties –
Freezone companies can freely import and export their commodities without having to pay any customs taxes.
- Global connectivity –
With major airports and seaports located near the Dubai freezone, companies can trade their goods locally as well as internationally. This helps them in networking with the distributors of several countries and connect with a global business community.
- An array of business activities –
Freezone gives you the liberty to commence a range of business operations.
- Simple and quick setup procedure –
Dubai freezone company setup is comparatively easy and time-saving. Moreover, it also provides convenient administration and an effortless free zone business setup in Dubai.
Other significant advantages of Dubai freezone company setup include –
- Business-oriented environment
- Excellent infrastructure
- Booming foreign companies
- Support and assistance from freezone officials
Also read the post: Steps for RAK Offshore Company Formation
Steps to start a free zone business setup Dubai
Setting up a business in Dubai freezone is relatively easy and quick. It requires less paperwork and minimum duration.
The basic steps for Dubai freezone company setup are as follows:
Determine the type of legal entity – The first and foremost requirement before starting a company in Dubai freezone is identifying the type of business you want to operate, and the type of license you would need to run your company.
The types of business structure you can choose from are –
- Free Zone Company Limited Liability Company (FZC LLC)
- Free Zone Establishment Limited Liability Company (FZE LLC)
- Branch Company
- Free Zone Company
- Free Zone Establishment
Choose a trading name – After fixing the business type, choose a unique and recognizable trade name for your business that would enable the consumers to identify your products and services in the market. You can also cross-check with the freezone authorities to confirm if the selected trade name resembles any existing one.
Apply for a business license – Once the trade name is approved, the owner can move to the next step – Business license application. With the requested documents and license fee, you can apply for a business license according to the type of business you have chosen.
Choose an office space – Most freezones demand office space for your business operations. Depending on the nature of your business, you can choose a suitable office and other office equipment as per your requirement.
Get pre-approvals – Once you are done with the primary requirements of application forms and trade name registration, get initial approvals from the relevant authorities for further procedure.
Register your business and get your license – Once the authorities approve all your credentials and documents, and issue a license for your company, you are good to move ahead with your business activities.
Opening a bank account – The last and final step includes opening a freezone business bank account to keep a record of your day-to-day business transactions, tax liabilities, and cash flow.
Documents required for Dubai freezone company setup
Starting a company in freezone requires minimum paperwork. The documents required for Dubai freezone company setup depend on the type of business you have selected to operate. However, the general requirements are as follows –
- Copy of legal passport and UAE Visa/Entry permit
- Copy of Emirates ID
- Application form for license
- Business plan
- Memorandum Of Association(MOA) and Articles Of Association(AOA)
List of freezones in Dubai for company formation
Following are some of the popular freezones in Dubai:
- Dubai World Central (DWC)
- Dubai Creative Clusters Authority (DCCA)
- Meydan Freezone
- Dubai International Financial Centre (DIFC)
- Dubai World Trade Centre (DWTC)
- International Free Zone Authority (IFZA)
- Dubai Airport Free Zone Authority (DAFZA)
- Dubai Silicon Oasis (DSO)
- Jebel Ali Free Zine Authority (JAFZA)
- Dubai Multi Commodities Centre (DMCC)
Conclusion
Freezones allow corporate organizations to have a physical presence and identification in the UAE, offering prebuilt facilities and updated one-stop-shop administrative services. It assures sustainable growth of business in terms of finance, trade, infrastructure, networking, administration, and management. The freezone authorities also extend their immense aid and assistance in promoting the business. Furthermore, they keep updating their business laws and policies time-to-time, making them more functional and doable, so that it helps investors in selecting the right location and activity for their business.
Among all the freezones available in Dubai, choosing an ideal location for your business can be confusing. On top of that, if you are unsure about pursuing a free zone company setup in Dubai, talk to one of Shuraa’s industry experts and get guided on how and where to get started. Our composed team of business setup experts has helped many entrepreneurs and investors set up their free zone companies in the UAE.
Get started now!
To know more about Dubai free zone business setup and freezone business license, call us at +97144081900 or send a WhatsApp message on +971507775554. Also, you can drop in an email at info@shuraa.com and get answers to your queries in no time.
