HOW TO SETUP A COMPANY IN DUBAI FREE ZONE
About Free Zone in Dubai
There are around 40 Free Zones Company set-ups in the UAE. Each Free Zone Company is designed around one or more Business categories and only offers licenses to companies within those categories.
The main attraction of establishing a Company in one of the Free Zones is that the companies are governed by an independent Free Zone Authority (FZA), which is for issuing licenses and checking the activities of companies within the Free Zone.
The UAE is now a High-end business hub and is suitable for setting up a business or a representative office. The nature of the business activity that you are interested in will have a big influence on selecting the Free Zone to meet your requirements.
The Benefits of Setting up a Free Zone Company in Dubai is:
- Getting foreign ownership (no requirement for a local partner/sponsor)
- Getting a complete partition of profits
- Acquiring corporate and personal income tax exemption
- There are no currency restrictions
- The Vast variety of licensable activities
- Planning efficiencies due to business cluster effect;
- Serviced offices for start-ups;
- Excellent and supportive services.
Requirements of Setting up a Free Zone in Dubai
The Business Investors can either register a new company in the form of a Free Zone Company (FZC) or Free Zone Establishment (FZE) – an FZE has one shareholder and an FZC has two or more. In order to set up a Free Zone Company, the following documentation will be required to propose a new company:
- A Certified Passport Copy and UAE Visa/UAE entry stamp (if non-resident)
- Two Identification of Proof of Address (dated within 3 months)
- Any Bank or Professional Reference Letter
- The Company Application Form (which we will provide)
Some of the Free Zones may request a detailed business plan, depending on the business activity of the proposed new company. Once a legal assurance has been established in a Free Zone, the business will need to lease land and acquire an operating license from the FZA. Companies with trade and industrial licenses can only conduct business within the Free Zone Entity. To sell products in Dubai then a joint venture needs to be formed.
Get Connected with XIPHIAS Immigration if you’re interested in setting up a free zone company in Dubai as we have all the expert guidance to lead you for the best dream you are looking for.
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