Dubai Free Zones

The Dubai Free Zone Authority is the government agency in charge of completing registration procedures and issuing business licenses to non-resident corporations or foreign-owned enterprises seeking to establish a company in one of Dubai’s free zones. The establishment of a firm in the Dubai free zone opens up a plethora of chances for networking, collaboration, and rapid expansion. Dubai is the most favoured nation for business registration due to its attractive tax structure and several benefits granted by the free zone authorities.

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The Advantages Of Starting A Business In Dubai Free Zone

Free zones are the best places to start a business because they provide cutting-edge infrastructure, duty and tax exemptions, world-class business amenities, flexible government regulations, and unrivalled amenities.

Benefits Of Establishing A Business In Dubai Free Zone

These are not the only elements that influence the establishment of a Dubai free zone business; there are other advantages to founding a Dubai free zone company, including:

  • Investors can hold 100% of the company, regardless of their nationality or country of origin.
  • Personal or business income or profits are tax-free to the full extent of the law.
  • 100% capital and profit repatriation.
  • All import and export tariffs are waived.
  • Facilities for offices and warehouses are convenient.
  • Option for an individual who wants to start a business.
  • Corporate tax exemption for 15 years, renewable for another 15 years.
  • Operations are conducted in complete secrecy.
  • Fewer renewal fees flexibility to operate in foreign business.
  • The ability to own homes, engage in a variety of activities and create a bank account in Dubai.
  • The ability to liquidate at any time.
  • Assistance with housing, visas for employees, and other support services.

Procedure To Start A Business In The Dubai Free Zone

The Dubai free-zone company establishment consists of six basic procedures.

  • Select a Commercial Activity
  • Locate an Appropriate Free Zone
  • Select a Trade Name
  • Collect important papers
  • Submit an Application for a License

Open a Bank Account for Your Business

  1.  Pick a business activity to engage in.
    Choose a business activity to engage in, as the sort of license you apply for will be determined by the nature of your firm. Many Dubai zones allow for a variety of commercial operations, so you have a lot of possibilities to choose from.
  2.  Locate a No-Fly Zone
    After you’ve settled on a business activity, you’ll need to figure out which free zone is best for you. In general, there are sector-specific zones such as IT, healthcare, commerce, trading, and so on; thus, do your homework before deciding on one.
  3. Pick a Business Name
    Before deciding on a name, make sure it’s eligible for registration on the Dubai free zone authority webpage. There are also other rules that the name must follow, such as not using profane language or making connections to religious or political groups.
  4.  Gather all of your documents and submit an application for a license.
    The next critical step is to apply for a license after deciding on the business activity and registering the trade name on the site. The sort of license required is determined on the type of business. To apply for the position, you must first complete the application form and gather the required documentation. Additionally, you can apply for a visa during this time.

  5. Establish a Business Bank Account
    The next critical step is to apply for a license after deciding on the business activity and registering the trade name on the site. The sort of license required is determined on the type of business. To apply for the position, you must first complete the application form and gather the required documentation. Additionally, you can apply for a visa during this time.

Documents Required For The Formation Of A Company In Dubai Free Zone

For a business license, you must:

  • If appropriate, a colour copy of the shareholder(s)’ passport and visa
  • Business plan application form
  • Resolution of the Board
  • For creating a bank account, you’ll need the following documents: Memorandum and Articles of Association (MAA):
  • Form for establishing a business account
  • A resolution from the board of directors authorizing the account’s opening, as well as the account’s signatories. 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 each of the company’s partners.
  • The freedom of doing business, major tax savings and favourable government policies lead investors and businessmen to set up their businesses in Dubai Free Zones which are business havens for them.