how to set up a company in dubai free zone
set up a company in dubai free zone
Free zones are special areas in the UAE that have a number of tax and regulatory benefits. These include zero corporation and personal taxes, 100% company ownership, repatriation of capital and profits, no currency restrictions and low import and export taxes. They also provide incredible networking opportunities and a flexible lifestyle. Setting up a company in Dubai’s free zone/s is a popular option for foreign entrepreneurs looking to establish an enterprise in the country.
The first step in the process of establishing a business in a free zone is to decide on your desired commercial activities. This will determine the type of licence you need to apply for. There are several different types of licences, including professional services, e commerce, commercial and trading. Each one has its own requirements, so it’s important to work with a company setup specialist at this stage.
Another factor to consider is where you will company set up in Dubai – there are over 45 free zones in the UAE, each with its own rules and regulations. Some zones are dedicated to a specific industry or service, while others are more comprehensive. Once you’ve chosen the right location for your company, the next step is to register it. You will need to submit various documents, such as your passport, visa (if applicable), professional CV, copy of the memorandum and articles of association and a signed letter of consent from shareholders. You will also need to open a corporate bank account.
how to set up a company in dubai free zone
Depending on the free zone you choose, the time frame for registering your company will vary. However, most of the time the process is straightforward and quick. For example, opening a branch office in the Dubai Airport Free Zone takes on average 3-5 working days.
Once you have registered your company, the next step is to obtain a business license. Again, the process will vary depending on your chosen free zone, so it’s important to work with an experienced business setup consultant. There are many things to consider, including the type of business you’re running and whether you’ll have employees. For instance, the Dubai Airport Free Zone requires that all companies operating within it have a minimum of one employee.
Once you’ve obtained your license, you can start trading in the UAE. To do so, you’ll need to submit a variety of documents, such as your passport, visa, proof of address and professional CV. You’ll also need to have a corporate bank account and a letter of consent from the shareholder(s). If you’re a foreign investor, you may be required to have your residence visa stamped before applying for a trade licence. This is because some trade licenses require that the company be owned by a UAE resident.