Business Setup in Dubai Free Zones (How-to Guide)
How to Start a Business in Dubai Freezone: If you are looking for business setup in Dubai free zones then this is going to be an ultimate guide for you that will help you to set up your business in UAE in any free zones you feel like.
Every businessman is attracted towards the United Arab Emirates market. If you see there are literally limitless opportunities and professional benefits for any entrepreneur seeking to get success in expanding the business to the UAE free zones.
So if you are also one of those entrepreneurs whose looking to scale up or expand or start a new business in the UAE Dubai free zones then this is going to be an ultimate guide for you here because we are going to share and cover almost everything that you would ever need or require that’s going to help you to get started with a free zone business setup in Dubai UAE.
Almost 60% of businesses are businessmen you will find in the Middle East including Abu Dhabi and Dubai are expats. Entrepreneurs from all across the globe have been showing interest in the UAE to set up their business.
How to Start a Business in Dubai Freezone
The UAE government has done a lot given permissions and has helped a lot of businessmen and business activities and startups across the country.
Now if we talk about the trading activity Dubai free zones indeed attract a lot of entrepreneurs and authorities make the free zones a very much beneficial place to set up the business and start the import export that is trading business.
Though there are a number of reasons entrepreneurs are attracted towards Dubai free zones especially because of the popularity and it is not a hidden secret nowadays. The number of benefits that a track any entrepreneur to words Dubai free zones include:
- Number of tax benefits
- No corporation and personal tax
- 100% ownership of the company
- No restrictions with regards to the currency whatsoever
- 100% import and export tax exemption
- Literally unlimited opportunity for networking
- The lifestyle is absolutely flexible
Are you also seeking or looking to start a business in Dubai and somehow you are still one thing or want to explore and understand if a Dubai free zone is going to be the right decision for you or not?
So let’s find out and understand a few things on how exactly to start a business in Dubai Freezone and what all you need exactly to make your business successful in Dubai Freezone.
Choosing a Business Activity in Dubai Freezone
To start your business in Dubai free zones the very first step is to know exactly where you need to register your company and for that it is very important for you to decide what business activity or activity you are planning to start in Dubai free zones.
You need to look, understand, figure out and decide if you are going to set up your business as a freelancer or you want to set up a free zone company and hire employees for your business or for your company.
It is going to be very economical to set up as a freelancer only. However we must tell you that each and every Dubai free zone does not allow or issue permissions and freelance visas.
So ultimately if you are looking to start as a freelancer then you need to understand that you will have fewer choices in terms of Dubai free zones as every Freezone does not allow the freelance set up.
On the other hand if we talk about a proper company set up and the option to start a company then yes there are going to be a lot of choices you would have in the UAE free zones to start your own company or business anywhere all across the UAE.
In some of the free zones it also depends on the number of times on the list of business activities you are looking to start or get a license for. The license that you are going to apply for depends completely on the business activity you are going to set up or start in the Dubai free zone.
For example if it is going to be a trading license, general trading, professional services, commercial business activity license or an E-Commerce license.
The Next Step
First of all if your business includes a couple of different activities then the process might seem intimidating.
However you need to understand and always keep one thing in mind that literally limiting yourself is not at all required as there are a lot of free zones here in Dubai that will always allow you and give you permission to take under a lot of multiple business activities by getting only one business license.
Though if you go through the process soon you will understand and get to know that the license is always and mostly issued depending on the requirements and various business activities here in Dubai.
So we will always suggest that you work with a business setup expert / a specialist in the company formation field, who can make sure that the process and the flow goes smoothly and without any interruption.
Selecting a Freezone in the UAE
As informed the very first step is to know and understand with regards to the business activity you would want to start.
So once you have decided which business activity exactly you would like to start, the very next step is going to be this selection of the free zone in the UAE that is going to be beneficial for you. Now you just need to finally decide which Freezone you want to start this business in and apply for the license in.
You must know that this selection is not going to be that easy because there are a lot of free zones in the UAE to select from.
You can read about a lot of free zones online and prepare a list of all the free zones and benefits they are offering and then you can finally decide which Freezone you would think is going to be great for your business.
The Next Step
While making the decision and white choosing or selecting the best free zones for you there are various things you might want to consider and see to set up your business.
There are a few industry-specific free zones, a few sector-specific free zones based on the occupation you would want to take it forward in Dubai free zones.
For example in Dubai free zones you would find a lot of industries specific businesses that are getting a lot of success in the UAE and those sectors would include:
- Social Media
However we must inform you there are a lot of free zones available in Dubai which are always open for limitless business activities. A lot of free zones in the UAE are going to give you permissions and almost all the business activities to start.
UAE Freezone Authorities
There are a few free zones that are dedicatedly to a few business activities and you would find a lot of businesses related to a few sectors in those free zones. Now for example if we talk about Dubai knowledge park Freezone,
This is the only free zone in the world which is dedicated to the learning excellence business activity as well as covering HR management, consultancies, there are some testing centers and a couple of more business activities.
Just like that, now we talk about Fujairah Creative City, its location is about 90 minutes from Dubai. And businesses that are into trading, import export, publishing, event management or broadcasting prefer to start the business and set up in Fujairah Creative City free zone.
Likely almost all the media companies that wish to start their business in Dubai free zones always prefer Shams. Shams is a very well known Freezone in Sharjah media City free zone.
They have designed the office spaces in the free zone in such a way that actually helps a lot of professionals as well as media professionals and entrepreneurs to take their business forward successfully.
Now if you go through all the free zones in Dubai UAE, one of the most unique free zones available in the UAE is Umm Al Quwain Free Zone.
Now what exactly makes this free zone a unique free zone all across the UAE? – this is the only free zone in the UAE that allows businesses to apply for their license and an entrepreneur can establish their business in this free zone without having or without the need for a visa. That is what makes this free zone unique.
Now lastly you also need to consider the free zone while selecting the location of the free zone. Now the location of the Freezone is going to be a very important aspect before setting up your business.
If the free zones have the access to main highways or ports or airports or not – there is something you need to take into consideration. You have to be mindful of these things, especially starting your business in any free zones in the UAE.
Because if you are doing trading business or import export or you are dependent on international business or maybe if you travel a lot then you have to be cognizant about this before making a final decision of any free zones.
Freezone Business Company Name Selection
Whether you want to start your business in any part of the world, you very well know that deciding or selecting or choosing a name is going to be a very difficult part of the business.
You need to be mindful before selecting or choosing a name for your business. You absolutely need to consider a lot of factors and things into your mind before selecting the correct name of your business.
Because the name of your business is going to radiate and shine or be easy to remember or how exactly it leaves an impression on your customers or other businesses.
The Next Step
First of all you need to go ahead and whatever business name you have selected or chosen you need to check the availability of the same for registration in Dubai.
A company set up business experts or specialists can also do the same for you. A business expert can easily check the availability of the business name and they can even help you in the selection of UAE company names for your business.
Also in the United Arab Emirates there are certain standards of the government for keeping the business name and you need to adhere to these standards. For example the company name cannot refer to any religious staff or any political organizations whatsoever.
No, if you finally decide to keep your business name as your own name or any person’s name then you need to take a couple of things into consideration.
If you are keeping the business name as any person’s name then you need to make sure that the person whose name is selected as a business name should be a partner or a shareholder on papers in your business.
You also need to make sure that you cannot use only initials or abbreviations; rather only full personal names of partners or shareholders are allowed to be kept as your business name.
License Application for Business in Dubai Freezone
Now that we have done all the planning and stuff. We have decided what business activity we are going to set up here in Dubai. We have also done all the selection based on the parameters of free zones in the UAE as well as the business name as well as been decided.
So now is the right time to submit an application to make your Dubai Freezone company formation.
The Next Step
Herein, we are going to mention the list of most important documents you would require for your Dubai Freezone company formation.
Though the documents also depend on the type of license you are applying for as well as the free zone you have selected in Dubai UAE. However generally the documents that we are going to mention below all or some of the documents are required for the same:
- Application form
- Cultured Copy of passport and Visa of all the shareholders
- Business Plan
- Board Resolution
- MOA – Memorandum and articles of association
However you also need to please note that if you are setting up a company as a freelancer and want to work in a free zone as a freelancer then you will have to provide the proof of invoices and your work orders as a freelancer.
UAE Residence Visa Application
Now that you have received the license of your business in your hands, it’s the right time to apply for your UAE residence visa. Now at this stage you can absolutely start your visa application process.
Even if you want to hire employees for your company or looking for any domestic staff for your business, this is the time when you can apply for the visa of your own or even for employment visa for your staff.
The Next Step
Now as you are applying for your UAE Residence Visa, there are a few steps that you need to follow in the process and that would include:
- Entry permit
- Visa status change
- Medical fitness test
- Emirates ID registration
- Visa stamping
We would like to inform you once again that if you are going to hire a company formation expert or specialist then they can do each and every single step on your behalf and apply for your visa, Emirates ID, visa status change, medical test etc. and everything for you.
Corporate Bank Account Opening
If you are starting your business in Dubai UAE then it is obvious to have a corporate bank account. A corporate bank account is something you would obviously and definitely need in order to do all the transactions of your business let it be international or domestic.
We all know that opening a corporate bank account in the UAE is not an easy task. There are a lot of things one needs to consider and keep in mind in order to have a bank account opened in the UAE.
There is an eligibility criteria for each and every single bank here in the UAE which you need to follow in order to open a corporate bank account.
The Next Step
First of all you need to have a complete list of documentation that you would require in order to open a corporate bank account in the UAE. As you have done that you need to make sure that you have all the documents right with you.
Now we are going to list below what all you would require to open a corporate bank account in the UAE:
- Business license / trade license
- Corporate account opening form / application form
- Copy of your company certificate of incorporation
- Board of directors’ resolution sanctioning the opening of the account, and the signatories to the account
- Copy of your share certiﬁcates
- Copy of companies MOA memorandum and articles of association
- Copy of passports of all departments of the company
Now as you have collected all your documents ready with you you need to choose and select which bank you would want to open a corporate account in.
We must also tell you that a company formation business expert or specialist can actually help you here and give you the best advice based on your business activity and your specific needs.
Dubai Freezone Company Formation Business Setup
So herein, we have mentioned to you in 6 simple steps how to set your business in the Dubai free zone. Now that you know that with the help of this article you would be able to start your business in any free zone in the UAE.
However still we would like to inform you and advise you to please keep your eyes open and you must always try and seek for the right guidance.
If your guidance is correct and there is a business expert to guide you on the steps then you will have your business setup in the Dubai free zone just in a few weeks successfully.
Why Start Your Freezone Business through ReCorporate?
If you need help or looking for some guidance from any of our business setup / company formation experts, or even if you are looking for some more information on the Dubai free zone company registration process we are always here to help.
Whichever business you are looking to start or confused about selecting a free zone in Dubai then we must tell you that we can take care of all your load, pressure and stress on us and in return we can provide you with one of the best business setup and company formation services in Dubai UAE.
Now whether you are concerned about choosing a business activity or maybe selecting a correct company name for your business or even if you are concerned about business set up cost or registration of your business in Dubai free zones, help with opening corporate bank accounts, visa status change or even processing your visa applications – we are here to handle and take care of each and every single thing for you.
There are some cases in which you can even start the process of registering your business in the UAE without even visiting the UAE. You can simply be in your own country and take care of your current business and at least start the process of registration of the company name etc. With the help of business setup and company formation experts.
With the help of this ultimate guide on How to Start a Business in Dubai Freezone, you understand the pricing, steps, documents and everything that is required to start a business in Dubai Freezone.
If you are also seeking to setup & register your company in a free zone in Dubai UAE then we must tell you that one of the best and easiest options for us to contact ReCorporate today.
To get a free consultation, please feel free to contact ReCorporate Business Experts. We help entrepreneurs to from their companies / businesses in Dubai, UAE and make the process easy and effortless. Call / WhatsApp us on +971- 58-586-5477. You may also email us at firstname.lastname@example.org.