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How to Setup Business in UAE Freezone

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Free-trade zone in Dubai, (FTZs) are special economic zones set up with the objective of offering tax concessions and customs duty benefits to expatriate investors.

Free zones in the UAE are outside the jurisdiction of the UAE and have rules and regulation set by concerned free zone authorities. Setting up a business in a free zone is relatively easier.

Free zone authorities require minimum paperwork and duration.When you decide to open your own business, you require to create a perfect plan. Only with a perfect plan you could start a business anywhere.

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key steps to setup business in UAE freezone

Here are the key steps to set up a business in a UAE free zone.

 

Benefits of Setting Up a Business in the UAE Free Zones

Getting Started to start business in UAE freezone

HERE’S HOW TO GET STARTED

The type of licence you apply for, will be depend on the activities you wish to buildup such as professional services, commercial, trading, etc.

In a free zone you can select from more than three thousand business activity that range from more than hundred sectors like shipping, diamonds, gold, aviation, community services constructions, technology, media and much more.

In a free zone, you can set up one of the two types of companies:

The differences lie in the number of shareholders and whether the shareholder is a natural person or a legal person. All free zones might not register both types of companies. You need to check with individual free zone authorities about the type of company they can register.

Choosing a trade name is the second step for setting up your business in the freezone. In most of the instance , you can ensure that the selected name is already registered or not with free zone authority

The exact documents required for Dubai free zone company formation will depend on the type of licence you are applying for and which free zone you have selected.

Colour copy of shareholder(s) passport and visa if applicable

You can either buy or lease office spaces in free zones. Office requirements depend on the number of employees and type of business activity of your company.

You can select the office space based on the number of works and kind of business activity. You can prefer the cheapest free zone if you a limited budget.

In DMCC, you can choose from a flexi desk of 20-30 sq. m., a flexi office of 200-265 sq. m., or offices running through multiple floors totally up to 2,000 sq. m. each.

Get the initial approval and the related business approvals from the specific authorities, register your business at the portal, and get your license. It will merely take 2-4 weeks to get done with this process. Once you get the license, you are good to start your business.

Companies established in free zones are governed by the rules of the respective free zones. To get the necessary approvals, you need to apply with the documents.

The general guideline of steps and documents needed for approvals.

UAE freezone business approval

The business form in every zone is actually following the rules and regulations of respective free zone. For acquiring the approvals you require applying with documents. The document list differs from one kind of business activity and company type as well as needs of free zone authority.

 

Freelancers need to submit fewer documents. In most cases, they need to submit:

In the next phase you have to pay the registration amount and license fees. The fee will be depend upon the the type of license.

After this you have to submit the following:

Lease agreements will be prepared by the authority. Then trade licence will be issued You can also make your visa application at this stage. You can apply for your own visa as well as those of your employees and any domestic staff you may have.

Why to setup comany in UAE freezone

Why to set up a UAE Free Zone Company?

A Free Zone Company is more expensive than an Offshore Company and it typically takes 4 to 6 weeks to establish. However, it is an onshore company (with some offshore characteristics).

This type of company is ideal for market entry because it will give you the physical presence in the UAE through office space and visas without the need for a local sponsor.

A Free Zone Company has offshore characteristics in the sense that all business needs to be carried out offshore/internationally or within the Free Zone itself.