Meydan Free Zone

Developed around the prestigious Racecourse in Dubai, Meydan Free Zone (MFZ) serves as one of the cost-effective destinations for startups and business formation. The free zone is located in downtown Dubai, and its development has led to a widespread commercial space that includes commercial properties, hotels, entertainment facilities, sports venues, and residential communities. 

This free zone's main aim is to encourage entrepreneurs with low-cost startups to flourish. This makes the Free Zone Authority a viable prospect for foreign investment in the heart of international horse racing and the equestrian scene in the Middle East.

With versatile office spaces in an ambiance that inspires performance and productivity, MFZ offers the perfect set-up to help you realize your business goals and gear you toward success. 

The Meydan Free Zone Authority

Let us look at this zone's license types, business activities, and entities.

Types of Licenses Available

There are 3 types of licenses available in MFZ:

1. Commercial License

It allows the import, export, and trading of various goods and services. This free zone has not yet started providing warehouse facilities.

2. Consultancy License

It allows professionals to resource and consultancy.

3. Media License

It includes media operations like an advertisement, marketing, and communication.

Business Activities Allowed

The following activities are permitted:

• Trading
• Import and export of goods
• Consultancy and professional services
• Advertising
• Marketing & communications.

Types of Business Entities Allowed in MFZ

The following types of business entities are allowed in MFZ:

• Sole Establishment (FZ)
• Limited Liability Company (LLC-FZ)
• Branch/Representative Office.

How to Start a Meydan Free Zone Company Formation?

The incorporation steps are straightforward in Meydan City FZ. A detailed description of the process is as follows:

1. Finalize the Business Activity and a Trade Name

Choose your business activity from the permitted list and decide on a business name following the prescribed government guidelines.

2. Clear the Essential Documents

For Individuals (Persons)

• Registration and application form (available on MFZ website or by email) signed by the owner
• Passport and visa copy of owner/manager
• A business plan for 3 years
• Original bank Reference letter or six months bank statement (stamped)
• CV of Owner/Manager
• Proof of address e.g., utility bill or lease agreement of owner/manager
• Copy of Emirates ID card (if he/she is a resident of the UAE)
• Copy of any existing UAE trade license
• A notarized power of attorney if a legal representative/agent/other person is appointed
• Colored passport copy of authorized
• Reservation of three name options (to be filled out on the MFZ registration form).

For Companies

• Registration and application form (available on MFZ website or by email) signed by all shareholders
• Business plan (for a minimum of three years)
• Original bank reference letter or six months bank statement (stamped) for the manager
• Good Standing Certificate
• Board Resolution mentioning the appointment of a manager/director, the relevant POA, and the activity
• A Memorandum of Association and Articles of Association of the parent company
• Certificate of Registration or Certificate of Incorporation CV of Manager/Director
• Colored Passport and Visa copy of Manager/Director
• The notarized power of attorney for the shareholder
• Reservation of three name options (to be filled out on the MFZ registration form).

3. Pay the Respective Fees

The Meydan Dubai free zone company set-up cost includes the following:

* Prices are subject to change. Kindly connect with us for confirmation.

4. An Appointment with the MFZ Authority

Once all the documents and initial approvals have been processed, an appointment with the MFZ will have to be made to register your free zone company. It takes around 1-2 weeks for this step to complete.

5. Signing the Documents

Next, sign and attest the Article of Association (AoA), Memorandum of Association (MoA), and leasing agreement by all shareholders before the MFZ officer.

Then obtain the certificate of incorporation, and license and issue visas.

6. Obtain the External Approvals

The last step is to get all the needed external approvals. Like some activities may require approvals from various bodies, i.e., DIMC, RERA, etc. 

You will need to provide these approvals to the authority to process your submission further.

Meydan Free Zone in Dubai provides various Flexi-desk options. Setting up your company in this free zone is very beneficial because the state government smoothes it, and it is an ideal location for a freelancer. 

If you plan to incorporate a company here, we at Commitbiz are here to help you with the formation process in Dubai and its free zones. Contact us today – we’d be happy to help you.