Want to Start a Company in Meydan Free Zone? Here’s Your Guide!

by commitbizadmin 21, Oct 2019

Want to Start a Company in Meydan Free Zone? Here’s Your Guide!

Meydan Free Zone in Dubai was established in the year 2009, under the Rulers Decree no. 5. It offers a practical and seamless company set up in one of Dubai's most prestigious addresses, as it is placed near Mohammed Bin Rashid Al Maktoum City, with close vicinity to the Dubai Logistics Corridor. The free zone companies in Meydan free zone are a part of a thriving, centrally located economic community which offers licenses to all the business sectors excluding heavy industry. It is allowing the companies to become a part of a flourishing, strategically positioned economic hub.

The Meydan project consists of not just Meydan Stadium or Meydan Free Zone but also includes a wide range of commercial developments, sports, entertainment, hotel, and fun facilities, a series of State-Of-Art business parks, schools, hospitals, residential villa communities, business tower with luxury waterfront developments and shopping destinations.

Benefits of Business in Meydan Free Zone

The entrepreneurs can have a range of benefits from starting a company in Dubai free zone. Some of them are mentioned below.

  • Investors are given options of operating their business through a Flexi desk
  • Premium location for your business setup
  • 100% repatriation of capital and profits
  • 100% foreign ownership of the business for both individuals and corporate entities
  • Secure business environment
  • Seamless and efficient licensing procedure
  • Guaranteed 50-year tax holiday on personal and corporate tax
  • No currency restrictions

Types of Licenses in Meydan Free Zone

The governing body of Meydan, Meydan Free Zone Authority, offers licenses for consultancy, media, and trading. They are listed as under.

  • Commercial License – It allows import and export, trading of various goods and services. This free zone has not yet started providing warehousing facilities
  • Media License – It includes media operations like advertising, marketing, and communication
  • Consultancy License – It allows professionals resourcing and consultancy

Business Activities in Meydan Free Zone

The different business activities permitted in this free zone are as follows.

  • Import and Export of goods
  • Trading
  • Advertising
  • Marketing and Communication
  • Media Operations
  • Freelancing
  • Consultancy and Professional Services

Business Entities in Meydan Free Zone Dubai

The following criteria are available for business setup in Meydan Free Zone.

  • Sole Establishment
  • Limited Liability Company
  • Representative or Branch Office

Procedure to Start a Company in Meydan Free Zone

The company formation process takes about 3-5 weeks. The process is simple and straight-forward and includes just a few steps.

  1. Select the business activity from the above-mentioned list. Once you select the business activity, it will be easier to get the business license
  2. Register your trade name before getting the initial approval
  3. Once the business name is registered, get an approval from the Meydan Free Zone Authority to start your registration process
  4. Fill an application form and submit necessary documents
  5. Wait for the approval from the free zone authorities
  6. Upon approval of the application to form a Company, the Registrar will issue a certificate evidencing registration of the Company

Documents Required for Meydan Free Zone Business Setup

  • Attested and signed Memorandum of Association (MoA), Article of Association (AoA), and leasing agreement by all investors
  • Registration fee payment
  • Business plan (at least for 3 years)
  • Original Bank reference letter or 6 months bank statements (stamped by the bank)
  • Proof of Address (E.g. Lease agreement or title deed)
  • CV of the shareholders
  • Passport copies and visa page copies of the shareholders
  • 3 options for name reservation

The Meydan Free Zone offers efficiency in company registration and a prime location while operating organizations through high technology, advanced communications and the flexibility of business space. Meydan provides global free zone negotiating status for firms starting in Dubai, UAE. Meydan Free Zone businesses are part of a thriving economic community.

Commitbiz helps entrepreneurs or businesses speed up the process of company formation in Meydan free zone helping them procure the necessary government department documents to expedite their company registration in the UAE. For more knowledge on other major aspects required for company establishment in Meydan including visa eligibility, audit requirements, facilities offered etc. and other laws governing company setup and registration, feel free to contact us.