Located along the coast of the Arabian Gulf, Dubai was renowned mainly for its oil industry, but the scenario has changed in the last two decades. Dubai is now a global city and a popular business hub at par with western nations.
Contents
- What is a Freezone?
- Advantages of Dubai Freezone Company Registration
- Procedure to do Dubai Freezone Company Formation
- Dubai Freezone Company Formation - Licence Types
- Types of Business Entities Allowed for Dubai Freezone Company Formation
- Documents Required for Dubai Freezone Company Formation
- Dubai Freezone Company Registration with Commitbiz
Contents
- What is a Freezone?
- Advantages of Dubai Freezone Company Registration
- Procedure to do Dubai Freezone Company Formation
- Dubai Freezone Company Formation - Licence Types
- Types of Business Entities Allowed for Dubai Freezone Company Formation
- Documents Required for Dubai Freezone Company Formation
- Dubai Freezone Company Registration with Commitbiz
Get complete information about Dubai Freezone Company Formation. Located along the coast of the Arabian Gulf, Dubai was renowned mainly for its oil industry, but the scenario has changed in the last two decades. Dubai is now a global city and a popular business hub at par with Western nations.
To attract foreign investment and empower the economy, free zones have been set up in Dubai that reward foreign nationals with lucrative incentives for setting up their business in the Emirates.
What is a Freezone?
The Free Zone Authority in Dubai is ruled by its own specific regulations that do not apply to businesses outside the zone. Dubai freezone company formation is also handled by the particular freezone authority.
Dubai freezone company setup brings a sea of networking, collaboration, and extensive opportunities that support business growth. The appealing tax regime and many incentives offered by the free zone authorities make Dubai the preferred nation for company formation by investors.
Dubai has more than 30 free zones offering a wide range of activities for Business Setup in Dubai:
- International Free Zone Authority (IFZA)
- Dubai Academic City
- Dubai Airport Free Zone Authority (DAFZA)
- Dubai Biotechnology & Research Park (DuBiotech)
- Dubai Car and Automotive City Free Zone (DUCAMZ)
- Dubai Design District
- Dubai Gold and Diamond Park
- Dubai Healthcare City
- Dubai Industrial City (DIC)
- Dubai International Academic City
- Dubai International Financial Centre (DIFC)
- Dubai Internet City (DIC)
- Dubai Knowledge Village
- Dubai World Trade Centre Free Zone
- Dubai South Free Zone
- Dubai Logistics City
- Dubai Media City
- Dubai Maritime City
- Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
- Dubai Outsource Zone
- Dubai Silicon Oasis (DSO)
- Dubai Studio City
- Dubai Creative Clusters Authority (Dubai Technology and Media Free Zone Authority)
- International Media Production Zone
- Jebel Ali Free Zone
- Economic Zones World
- Dubai Flower Centre
- Meydan Free Zone
- International Humanitarian City
- Dubai Techno Park Free Zone
- Dubai Science Park Free Zone
- Dubai Textile City Free Zone
- Dubai CommerCity(DCC FreeZone)
Advantages of Dubai Freezone Company Registration
Dubai freezone company registration offers several advantages that benefit entrepreneurs and investors. These advantages include:
- Complete Ownership of Business.
- Full Profit Repatriation.
- 9% Corporate Tax.
- Simplified Import and Export Processes.
- Strategic Location.
- Global Connectivity.
- Thriving Expat Entrepreneurs.
- Range of Business Activities.
- Time-saving and Simple Registration Process.
Procedure to do Dubai Freezone Company Formation
Five simple steps are included in the Dubai freezone company setup.
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Choose a Business Activity
Decide a business activity you wish to carry out, as the type of licence you apply for will depend upon the nature of the business activity. Many Dubai zones allow for multiple business activities, so they have various options to explore.
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Find a Free Zone
Once you have decided on a business activity, the next step is deciding which free zone is right for you. There are sector-specific zones like IT, healthcare, commerce, trading, etc.; therefore, research before choosing one particular zone.
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Choose a Company Name
Before finalising a name, you need to ensure that your business name is available to be registered on the Dubai Freezone Authority portal. There are also specific standards that the name must adhere to, including avoiding any profane language or references to religious or political organisations.
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Gather all the Documents and Apply for a Licence
After deciding on the business activity and registering the trade name at the portal, the next crucial step is to apply for a licence.
To apply, you must first fill out the application form and gather the documents mentioned in the application. Also, you can make a visa application during this process.
After this, you will get a valid licence within 2-4 weeks and are good to go.
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Open a Corporate Bank Account
Opening a bank account is an easy process. But to do so, you must gather the documents and your business licence again and provide them to the chosen financial institution.
Dubai Freezone Company Formation - Licence Types
Be aware of the various incentives that Dubai freezones company formation offers for licence holders. Free zone authorities offer the following licences for company formation in Free Zone Dubai:
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Trading Licence
This type of licence, if acquired, allows one to carry out trading activities like buying, importing & exporting, and selling a limited number of commodities.
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General Trading Activities
One can trade all types of goods with this licence with an exemption on a few banned products that need special approval.
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Service Licence
Companies that want to deal with consulting, accountancy, etc., can acquire this license.
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Industrial Licence
A company can carry out manufacturing, packaging, and processing activities after obtaining this licence.
Types of Business Entities Allowed for Dubai Freezone Company Formation
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Free Zone Establishment (FZE)
This type of company can be registered with one individual or corporate shareholder.
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Free Zone Company (FZC)
This type of company can be registered with two or more shareholders. A shareholder can be an individual or a company.
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Branch Office
A business with a company in the UAE or a foreign land can have a branch in one of the free zones of Dubai. Get complete information about Opening a branch office in Dubai.
Documents Required for Dubai Freezone Company Formation
For a Business Licence in Dubai Freezone:
- Business plan.
- Application form.
- Board Resolution.
- Articles of Association (AOA).
- Memorandum of Association (MOA).
- Colour copy of shareholder(s)’ passport and visa, if applicable.
For Opening A Bank Account in Dubai Freezone:
- A board of directors’ resolution sanctioning the opening of the account and the signatories to the account.
- A copy of the company’s Memorandum and Articles of Association (MAA).
- A copy of your company’s certificate of incorporation.
- Copies of passports for all partners in the company.
- A corporate account opening form.
- A copy of your share certificate.
Dubai Freezone Company Registration with Commitbiz
Freedom of doing business, substantial tax savings, and favourable government policies lead investors and business people to set up their operations in Dubai’s Free Trade Zones.
Commitbiz has the experience and resources to help you realise your company incorporation dreams without worrying about the red tape, visa applications, documentation, licensing formalities, residence permits, banking details, etc., as our experts take care of all these requirements.
Contact us for Free Zone Company Registration in Dubai, and our specialised team will gladly assist you with all the details.
What is the procedure to start a company in Dubai Freezone?
It can be done in simple steps
- Choose a business activity
- Find a Suitable Free Zone
- Choose a trading name
- Gather Important Documents
- Apply for a license
- Open a business bank account
However, these simple steps can have elaborate procedures.
What are the types of licenses available for freezone companies in Dubai?
Trading, Service, General trading, Industrial license.
Do Free Zones have currency regulations?
There are no currency regulations of any kind in UAE-free zones. This makes financial transactions easier.
How much does the Dubai free zone visa cost?
It depends on the free zone. A Dubai South zone visa costs AED 2500.
Which is the best Free Zone in Dubai?
Dubai Multi Commodity Centre is one of the best free zones.