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. 

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. 

Due to its diverse business model that drives the economy in the region. 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.

A Brief on Freezones

The Free Zone Authority in Dubai is the government organization that handles registration formalities and issues business licenses to non-resident companies or foreign-owned businesses for company formation in Dubai-free zones. 

Business in Dubai free zone brings a sea of networking, collaboration, and extensive business growth opportunities. The appealing tax regime and many incentives offered by the free zone authorities make Dubai the most preferred nation by an investor for company formation.

List of Free Zones in Dubai

Dubai has more than 30 free zones offering a wide range of activities for company formation:

1. International Free Zone Authority (IFZA)
2. Dubai Academic City
3. Dubai Airport Free Zone Authority (DAFZA)
4. Dubai Biotechnology & Research Park (DuBiotech)
5. Dubai Car and Automotive City Free Zone (DUCAMZ)
6. Dubai Design District
7. Dubai Gold and Diamond Park
8. Dubai Healthcare City
9. Dubai Industrial City (DIC)
10. Dubai International Academic City
11. Dubai International Financial Centre (DIFC) 
12. Dubai Internet City (DIC)
13. Dubai Knowledge Village
14. Dubai World Trade Centre Free Zone
15. Dubai South Free Zone
16. Dubai Logistics City
17. Dubai Media City
18. Dubai Maritime City
19. Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
20. Dubai Outsource Zone
21. Dubai Silicon Oasis (DSO)
22. Dubai Studio City
23. Dubai Creative Clusters Authority (Dubai Technology and Media Free Zone Authority)
24. International Media Production Zone
25. Jebel Ali Free Zone
26. Economic Zones World
27. Dubai Flower Centre
28. Meydan Free Zone
29. International Humanitarian City
30. Dubai Techno Park Free Zone
31. Dubai Science Park Free Zone
32. Dubai Textile City Free Zone
33. Dubai CommerCity(DCC FreeZone) 

Dubai Free Zone License Types

Be aware of the various incentives that free zones in Dubai provide for license holders. Free zone authorities offer the following licenses for company formation in free zone Dubai:

1. Trading License

This type of license, if acquired, allows one to carry out trading activities like buying, importing & exporting, and selling a limited number of commodities.

2. General Trading Activities

One can deal with the trading of all types of goods, with an exemption on a few banned products which need special approval with this license.

3. Service License

Companies that want to deal with consulting, accountancy, etc., can acquire this license.

4. Industrial License

A company can carry out manufacturing, packaging, and processing activities after obtaining this license.

Types of Business Entities Allowed in Dubai Free Zone

1. Free Zone Establishment (FZE)

This type of company can be registered with one individual or corporate shareholder.

2. 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.

3. 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.

Documents Required for Dubai Freezone Company Formation

For a business license:

• Colour copy of shareholder(s)’ passport and visa, if applicable
• Application form
• Business plan
• Board Resolution
• Memorandum and Articles of Association (MAA)

For opening a bank account:

• A corporate account opening form
• A board of directors’ resolution sanctioning the opening of the account, and the signatories to the account
• A copy of your company’s certificate of incorporation
• A copy of your share certificate
• A copy of the company’s Memorandum and Articles of Association (MAA)
• Copies of passports for all partners in the company

Procedure to Set Up a Business in Dubai Free Zone

There are five simple steps included in the Dubai freezone company setup.

1. Choose a Business Activity

Decide a business activity you wish to carry out, as the type of license you apply for will depend upon the nature of the business activity. Many Dubai zones allow for multiple business activities, so they have many options to explore.

2. 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.

3. Choose a Company Name

Before finalizing a name, you need to ensure that your business name is available to be registered on the Dubai free zone authority portal. There are also specific standards that the name must adhere to, including avoiding any profane language or references to religious or political organizations.

4. Gather all the Documents and Apply for a License

After deciding on the business activity and registering the trade name at the portal, the next crucial step is to apply for a license. The type of license depends on business activity. To apply for the same, you must first fill out the application form and gather the documents, as mentioned in the application. Also, you can make a visa application during this process.

After this, you will get a valid license within 2-4 weeks, and you are good to go.

5. 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 license again and provide them to the chosen financial institution.

Open business in Dubai Free Zone with Commitbiz

Freedom of doing business, substantial tax savings, and favorable 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 realize your company setup 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 specialized team will gladly assist you with all the details.