Last updated on May 8, 2022
How to start a business in UAE free zone is very debatable question. But it is without any doubt a cost effective project for persons who are in search for the group of experts; in order to answer the question How to start a business in UAE free zone. But before answer to How to start a business in UAE free zone; there are plenty of other things that need to be focus. To start a business in UAE free zone you must have a proper vision. Every business needs a vision. To convert this vision into reality is a fantasy of every person. Before opening a business, you need to have a business idea; to start a business in UAE free zone.
In order to form an operational business plan an expert view is requires on each single step. Because expert of business set up knows How to start a business in UAE free zone easily. Expert & qualified business person know what exactly their goal is and how can they reach to it. They know how to invite their target audience in the best possible way. They know How to start a business in UAE free zone; and also what is best in order to make their products; as well as services grow well to survive the competition. But those, who have just start writing their business plans; need expert direction and help, whether in forecasting sales, cost calculations; research, generating financial documentation and much more.
How to start a business in Dubai free zone
Dubai free trade one are a special economic zones for company setup in Dubai. To start a business in Dubai free zone offers a wide range of services which includes; Dubai Free Zone VISA, easy company formation, a verity of Free Zone License. Dubai is the only city of UAE where a large number of Free Zones for doing the trade; and also the Free Industrial Zones for potential investors who wish to make the most profit out of their investments. Dubai is healthy with a diversity of new and different sector of business firm. It has all been imaginable because there are great numbers of firms all around the world looking to establish their base in Dubai.
We are the best team of expert for setting up the foreign businesses here; and in this field the most successful company in Dubai, UAE. So, if you want to know how to start a business in Dubai free zone; then stay with us. We will take you to step by step process of how to start a business in Dubai free zone. Dubai is one of the few zones on earth; where starting a business is a tiresome task. According to the World Bank’s Survey, Dubai is rank 33rd of the easiest places to do business. In view of its low rankings, we can say that opening a company in the state is going to be very tough, especially if it is your first time.
How to start a business in UAE free zone | How to start a business in Dubai free zone
In this section we will take you to the real process of Setting up a business in a free zone. As each free zone authorities have their own rules and regulation; there for each free zone have their own setup procedure. But following are the common step to start a business in UAE free zone.
- Determine the type of legal entity
- Choose a trade name
- Apply for a business license
- Choose an office space
- Get pre-approvals, register your business and get your license
Determine the entity type | How to start a business in UAE free zone
The first step for How to start a business in UAE free zone is to determine the legal type of entity your business. In a free trade zone, you can set up one of the two types of firms:
- Free Zone Company (FZ Co)
- Free Zone Establishment (FZE)
The difference in these two is the number of shareholders; that is FZE requires only one shareholder; and if the shareholders are more than one then it is call as FZCo. All free trade zones might not register both types of companies. You need to check with our expert team about the type of company you want to register.
Choose a trade name | How to start a business in UAE free zone
The 2nd step for How to start a business in UAE free zone is to choose a trade name. In most cases, you would check with the free trade zone authority about the trade name; that whether the intended name has already been register or not.
Choose a business Activity | How to start a business in Dubai free zone
The 3rd step for How to start a business in Dubai free zone is to choose a business activity. In Dubai free zone, you can choose from over 3000 business activities ranging from over 100 sectors such as energy, aviation, shipping, commodities, gold and diamonds, education, media, professional services, technology, constructions, FMCG, healthcare, financial services and personal and community services.
Get Initial approval | How to start a business in UAE free zone
In this step for How to start a business in UAE free zone is to apply for initial approval. Company form in free trade zone is following the rules of the respective free trade zones. In order to get the approvals, you need to apply with the documents. The list of documents varies on the type of business activity; as well as the type of company; and also the requirements of the free zone authority. Below is a general documents needed for approvals.
- Completed application form as well as Business plan
- Copy of existing trade license (if you are an existing company, applicable for local company only)
- Color passport copies of the shareholder and the Manager or Director for the new company
- Specimen signature of the shareholder and the new Manager or the Director for the new company
- 2 year audit reports for corporate entity; or certificate of reference from a personal bank of the individual shareholder
- NOC from current sponsor (for individuals)
- Unit title deed
- Also letter of Intent
- Registry Identification Code (RIC) Form for Manager and a Director (Original as well as notarize)
Freelancers need to submit fewer documents. In most cases, they need to submit:
- Application form for the company setup.
- Bank reference letter
- Registry Identification Code (RIC) Form (Original as well as notarize)
Choose an office space | How to start a business in Dubai free zone
In this step for How to start a business in Dubai free zone is to choose an office space. You can buy as well as lease an office spaces in free trade zone. Office space depends on the number of staff and type of business activity of your company.
In Dubai free zone you can choose from a flexi desk of 20-30 sq/m. Also flexi office of 200 – 265 sq/m. and also an offices running through multiple floors totaling up to 2,000 sq / m.
Registration an get the license | How to start a business in Dubai free zone
In this step for How to start a business in Dubai free zone is to pay the license fee and get the final approval. After getting initial approval, you need to pay registration fees as well as license fees. But note that the fees depend on the type of license; as well as the free zone authority.
Note that certain activities may be subject to approval from external authorities. Refer to special cases.