Free Zone Company
Free zone Business Setup Dubai
Dubai Free Zone Company Formation Services
The formation of a Freezone company Dubai has gained wide popularity as it remains one of the significant dynamic business hubs of excellent economic growth and opportunities for booming businesses. Dubai provides equal scope and exposure to every investor and entrepreneur. There are business-friendly laws and business requirements that the authorities have adopted in developing the Dubai Free zone. It has made it much easier for entrepreneurs in business setup in Dubai Freezone
Dubai free zone company setup is effortless and has a minimal company setup cost. Entrepreneurs can establish a business setup in Dubai Freezone at various locations. Dubai Freezone company formation is a comparatively more straightforward process that has attracted many investors and entrepreneurs due to the government’s approach to Dubai Freezone company registration.
Our consultants will assist you with governmental approvals, Investor Residence Visa, and company formation process, packages for investors and cheap trade licenses. With our knowledgeable experience in the company formation process, we can help our clients with a common company structure, country of jurisdiction, International trading, kinds of trading activities and Enterprise Life.
What is a Free zone Company in Dubai?
A Free zone company is a business or trade setup that operates from specific economic areas in the UAE. These locations are generally called Dubai Free Zones. These spaces offer certain exclusive benefits for foreign investors in Dubai with 3-Year Business License. Free zone companies set up in Dubai enjoy unique benefits like:
- 100% foreign ownership
- Tax-free operations
- Opportunity to work closely knitted market sectors
- 0% customs duties on imports and exports
- Easy access to transit modes like airports and seaports
- Convenient trading opportunities
- Unique infrastructures
Dubai Free zone Company Benefits
- Freezone company setup in Dubai can be incorporated with full foreign ownership. That means free zone businesses do not require a local partner/Emirati.
- The full amount of profits and capital that are earned through the business and are invested in it can be repatriated.
- A major one of the free zone company benefits is tax-free business zones. Investors are not bound to pay any kind of taxes for conducting business in free zones.
- Freezone companies are not controlled in terms of foreign currency exchanges. There are also no limits on the volume and number of fund transfers to and fro for the corporate bank account of the business.
- No duties or other charges are levied for any sort of goods or services provided by Freezone companies.
- Inexpensive energy charges are also one of the main attractions in free zone company benefits.
- The application process for Freezone company formation in Dubai is very easy and is approved sooner than mainland business licenses.
- Since free zones are specifically created to encourage foreign trade, investment, and business, there are plenty of office spaces available for sale as well as rent.
- Businesses also can easily obtain skilled workers’ visas. These are very affordable and have simple application procedures.
- There are no specific time restrictions for office operating hours. So offices can work according to their suitable schedule any time.
Guidelines for Dubai Free Zone Company Setup
To get it done right, you must follow the right procedure for business setup in Dubai Free Zone, complete your company registration, and get investor benefits.
First, you must be clear and specific about the type of business and the market sector you wish to work in Dubai. It will allocate the Free Zone for you will need a license. Many Free Zones in Dubai promote a specific market sector. Each Free Zone has slightly different rules, terms and conditions for Dubai Free Zone Company Setup with specific business benefits. Here are further steps and guidelines to set up a business in Dubai Free Zone:
Finalization of Business name and Logo that is approved by the relevant authorities. Make sure you are following all the standards given by Dubai authorities. You must provide at least three trade names when applying.
Obtaining Business License
The next stage is to apply for and acquire a business license for your Free Zone company in Dubai. After approval of the trade name, you will apply with all the required documents for a business/trade license. The trade license provided in different Free Zones varies based on the nature of the business. So be aware of the business license type and business registration procedures.
Renting Office Space
As a part of the essential documentation, you will also need to provide your valid postal address for your office space in Dubai. Consult Zone experts can help you find a suitable space for your office setup in Dubai and business centre accommodation.
Approvals and Licenses for Business
Before starting your business operations, the final step is acquiring the approvals and licenses needed for your specific business. The licenses are to be obtained from concerned authorities and departments of the free zone. The complete procedures of the Free Zone company setup in Dubai only take up to two to four weeks.
Documents Required for Freezone Company Formation in Dubai How to Set up an LLC in a Free Zone?
Documents that the entrepreneur will be required to produce before Freezone company formation in Dubai are as follows. There are several documents that you should submit or obtain from the Gulf Cooperation Council or the Arab embassy:
- License application form.
- Business card.
- Business plan outlay.
- MOA (Memorandum of Association) and AOA (Articles of Association)
- Passport copies of the shareholders
- Banking reference and license of the partners existing business if required.
Consultzone’s experts help you to make the process of a Freezone company setup in Dubai much easier for you with our services.
How to Set up an LLC in a Free Zone?
Freezone company formation in Dubai can be formed as two types of entities named; FZ LLC (Freezone Limited Liability Company) and FZE (Freezone Establishment). To set up an LLC in the Dubai free zone, the business must have a minimum paid-up capital of AED 150,000 or higher. A limited liability company can be corporate-owned, individual owned, or corporate and individual owned.
The idea of a limited liability company or LLC is that the owners will have limited liability for debts if the business fails. An LLC can be set up anywhere including the Dubai mainland. However, there are differences between a Dubai mainland LLC and a Freezone LLC. The evident difference is in the name, a Freezone LLC will be referred to as FZ LLC while the other will be just LLC along with the company name.
KIZAD free zone (Abu Dhabi)
You can avail of various solutions appropriate for all business activities like manufacturing, logistics, trade, and distribution. KIZAD boosts your business with outstanding access to markets via a world-class transport infrastructure, offering you the advantage of connecting with over 4.5 billion consumers.
KIZAD has added the new Khalifa Port Free Trade Zone (Khalifa Port FTZ). Investors who opt for the Khalifa Port FTZ are offered an array of business set-up services that make their registration and licensing processes more effective. On the other hand, they also offer executive offices and flexible workstations.
FAQ’s Freezone Company Formation in Dubai
The jurisdiction in which you set up a Freezone company and the business activity that you conduct are the deciding factors for the minimum capital requirement of the company. It ranges from AED 1000 to AED 300,000. However, there are some exceptions such as DMCC and Tecom Free Zones where this capital is not needed to be deposited in the company’s bank account. All of the Freezone companies can use the amount as a working capital, which can be withdrawn and used for company setup procedures and other company-related activities. Branch companies set up in free zones do not require any capital.
Since a Freezone company possesses 100% foreign ownership and 100% repatriation of profits and capital, it is exempted from all kinds of import and export customs duties. Free zone company benefits also include zero corporate taxes and zero dividend tax.
No, there is no need for the investor/owner to be a resident of the UAE for Freezone company formation in Dubai. Free zones offer 100% foreign ownership. However, a general manager of the establishment is required to be a resident of the UAE through whom the procedures can be conducted smoothly.
A company licensed in any of the UAE free zones is allowed to do business outside the UAE. To trade your goods in the UAE mainland, tie up with an LLC in the mainland to sell it through them. For this activity, the company will have to pay customs duty for the goods. Opening a branch of the company in the UAE mainland is also another possibility.