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 which includes commercial properties, hotels, entertainment facilities, sports venue, and residential community. The main aim of Meydan free zone is streamlined to encourage the entrepreneurs with low-cost startups to flourish. This makes the Meydan Free Zone Authority a viable prospect for foreign investment in the heart of the international horse racing and the equestrian scene in the Middle East.

Equipped with versatile office spaces in an ambiance that inspires performance and productivity, MFZ offers the perfect setup to help you realize your business goals and gear you towards success. If you are looking for a business set up in Dubai free zone, Meydan Dubai has a lot to offer with its strategic location, excellent connectivity, state-of-art infrastructure, world-class professional environment, and strong economic outlook.

Types of Licenses Available in Meydan Free Zone

There are 3 types of licenses available in MFZ:

1. Commercial License

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

2. Consultancy License

It allows professionals resourcing and consultancy.

3. Media License

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

Business Activities Allowed in Meydan Free Zone

  • 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

Benefits of Setting up a Company in MFZ

  • 100% foreign ownership
  • 100% capital repatriation
  • Flexible facilities options
  • No currency restrictions
  • Ideal for Startups and SME’s
  • No capital deposit requirement
  • Conveniently hire foreign labors and employees
  • No personal income and corporate tax

How to Set Up a Business in MFZ?

The incorporation steps are simple and straight-forward in Meydan City FZ. They include the collection of required documents, preparation of business plan including financial projections, obtaining pre-approval for the business from the Free Zone immigration department, signing of Memorandum of Association, issuance of a certificate of incorporation and license and subsequently issuing visas. The detailed description of the process is as follows:

  1. The first step is to fill in the application form and submit the necessary documents with it. You can submit the application online or via email
  2. Pay the processing fee as framed by the Meydan Free Zone Authorities
  3. Register your trade name at the registrar
  4. Once all the documents and initial approvals have been processed, an appointment with the MFZ will have to be made for the registration of your free zone company. It takes around 1-2 weeks for this step to complete
  5. Next, sign and attest Article of Association (AoA), Memorandum of Association (MoA) and leasing agreement by all shareholders in front of the MFZ officer
  6. 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 MFZ in order for your submission to be processed further

Documents Required to Set Up a Business in MFZ

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 the 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 manager
  • Good Standing Certificate
  • Board Resolution mentioning the appointment of a manager/director, the relevant POA, and 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)

Fees for Company Formation in MFZ

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

Particulars

Cost in AED

Application Form

520

Registration Fee

10,020

License Fee

10,020

Additional Activity

5,020

Establishment Card

10,000

Why Set Up a Company in MFZ?

Meydan Free Zone in Dubai provides various flexi-desk options apart from the aforementioned benefits. Setting up your company in this free zone is very beneficial because it is smoothed by the state government. Moreover, it is an ideal location for a freelancer or small start-up as it offers the very competitive licensing option and can also be an ideal solution for those who would like to establish a business in the vicinity of Dubai Downtown. If you are planning to incorporate a company in Meydan free zone, we at Commitbiz are here to help you with the company formation process in Dubai and its free zones. Our experts take care of the banking, visa, legal, and licensing formalities, in accordance with the UAE laws. We guide you through your Meydan Free zone company formation, with your business objectives at the centre of our ecosystem. Contact us today – we’d be happy to help you.