Meydan free zone company formation

Last updated on March 23, 2022

Meydan free zone company formation

Meydan free zone is ideally located in the heart of Dubai, which is close to Dubai downtown. It is one of the free zones that offer cost-effective business setup solution in Dubai. Meydan free zone  encourages a lot of investors; that is from all over the world for business setup in Meydan Free Zone. It offers full free zone incentives such as 100% ownership; no taxation, no currency restrictions, also possibility of hiring foreign labor; high speed internet and there is no duty tax impose on import as well as export. Meydan Free Zone offers only flexi desk option; which is very convenient for those who do not require a physical office for their business.

Meydan Stadium, in which Meydan Free Zone is based; It is one of the best strategic creativity of the Dubai govt. The aim of this free zone is connect the world with way of hosting international horse racing events. Moreover, the Meydan project consist of not only Meydan Stadium or Meydan Free Zone; but also includes wide range of commercial developments, sports, hotels; entertainment and also some fun facilities, a series of state of the art business parks, hospitals;  and also world class schools, residential villa; business towers with luxury water front developments as well as shopping destinations.

Advantages of company formation in Meydan free zone

Dubai is facilitated by the state government by easy registration of your business. Further, the new investors are also offered several benefits in this particular free zone.

• Easy to setup business in Meydan free zone
• Investors are given the permission to operate their business through a Flexi desk.
• Premium location for your business setup.
• Guaranteed 100% repatriation of invested capital and profits gained.
• Guaranteed 100% ownership of the business both for individuals and corporate entities.
• Extremely secure business environment.
• Premier location for new business locating to Dubai
• Seamless and efficient licensing and registration procedure.
• Strategic location near Mohammed Bin Rashid Al Makhtoum City, close proximity to the Dubai Logistics Corridor.
• Secure regulated environment.
• Very competent licensing and registration procedure.

License Types offered by Meydan freezone company

Meydan Free zone offers different type of activity; that is, commercial, consultancy as well as media license.

• Consulting license allow to carry on consulting activity; such as Management, Business, Human resources consultancy and other professional services.
• Commercial license allows import as well as export; trading as well as distribution of different types of goods. Please note that as of now Meydan Free zone does not offer warehouse space.
• Media license includes all kinds of media, advertising and communication services.

Meydan Free Zone is an ideal solution for freelancers or for small start ups; as it offers very competitive licensing options. It can also be an ideal solution for those; who would like to establish a business in the vicinity of Dubai downtown.

What we offer for Meydan Free Zone company formation

• We can help you to get your license as well as help you to select the correct legal entities
• Our consultant will help you in shareholding structure as well as in the process
• Guidance in the selection of your Dubai free zone company formation name; as there are several restrictions in Meydan free zone Dubai.
• We will help you to define your share structure
• We can also assist you to auditing process
• Attainment of facilities
• Capital investment
• Company structure as well as Visa matters
• State government laws and regulation in the Meydan freezone
• Driving license issuance and other such services.

All these services can be attained at a market competitive price. All you need to do is to contact us and give your input. The rest would be sorted out by our team of business advisers; who have years of experience in dealing with such business services.

Characteristics of Meydan Free Zone

Type of licenses: Consultancy license, media license and also commercial license

Legal entity: Sole establishment, LLC company; and also branch of a foreign company are allow in Meydan free zone.

Type of director: Only individual director are allow in meydan free zone.

Type of Share: No bearer share are allow in this free zone.  All shares must be fully paid when allocated. No different classes of shares allowed in Meydan free zone company.

Number of Shareholders: One Shareholder minimum for a Meydan company, maximum of 7. A minimum of one director is required. You can be a partner/shareholder in multiple companies.

Audit: The Meydan free zone company shall appoint an auditor and file annual accounts as may be requested the authorities.

Share capital: The minimum share capital for a new Company and Subsidiary is AED 100,000 per company. Also note that branches are exempt from the requirement of additional share capital.

Manager: Every Meydan free zone company shall have a manager who must also be under the company’s visa. It should also be a natural person and his name shall be on license.

Presence: The shareholder has to be physically present either himself or through an attorney at the Free Zone.

Restrictions on name: Meydan free zone company name must end with the word “LLC FZ”. Location names and religious words are prohibited.

Visa eligibility: Meydan free zone company is eligible for 2 visas only. No Investor Visa Category Available

Facilities offered: Meydan free zone company only operate with Flexi desk

Other services: Driving License and other functions need to be applied from Dubai Government Departments.

Documents required for Meydan free zone company setup

Individual Shareholder

1. Application forms duly signed by the authorized signatory.
2. 3 Year Business Plan
3. Passport and visa copy of shareholders/directors/manager
4. CV of shareholder (s) / directors / manager
5. Original Bank reference letter or 6 month bank statement (stamped)

Corporate Shareholder

1. Applications forms duly signed by the authorized signatory.
2. Audited Financial Report
3. Company brochure / profile
4. You also need to provide a 3 year business plan
5. Letter from the shareholding company for the appointment of a Manager.
6. Board Resolution calling for the establishment of a Meydan Free Zone company, attachment of Specimen Signature; Passport copy as well as a power of attorney for Manager, Director & Secretary.
7. Certificate of Incorporation or certificate of good standing of the mother company; Memorandum as well as Articles of Association of the parent company.

Documents Required For Establishing A Branch Company

1. Application forms duly signed by the authorized signatory.
2. Board Resolution calling for the establishment a branch in Meydan Free Zone and guarantee full financial commitment.
3. Company license or Certificate of good standing, Memorandum as well as Articles of Association of the Mother Company; Specimen Signature, a passport copy as well as power of attorney for manager and directors.
4. You also need to submit a 3 year business plan to meydan free zone.
5. Letter from the parent company for the appointment of Manager.
6. Company brochure or a profile

Cost of Meydan free zone company formation

The Meydan free zone company formation cost is AED 21,020. This includes first year’s license fee, the company registration charges; also a certificate of incorporation, Name reservation; MOA as well as articles of association (also if the company only has one shareholder).

In addition, you need a desk space in the free zone for each and every visa. The annual fee for leasing a desk is 6,000. This will be a share desk inside a free zone; and also note that it can be only use for 4 hour in a week. The company needs to open a file with the immigration department. Fee is 520 for establishment card.

The total 1^st year’s fee is 27,540.

The annual fee for renewal of the trade license is 15,000. Together with the admin desk lease; and also the annual renewal of the establishment card, the total annual charges are 21,500.

Meydan Free Zone currently not offering physical office; because it only promote Flexi Desk facility in a standard cost as above. So visa eligibility depend on the business plan of the company and on the approval of the authority.