Starting a company in Dubai is not easy, there are lot of requirement needed by this country as their rules and regulations are strict. The country is also good at helping as long as you set up the company in the country. There are few things to keep in before starting a new company in the Free Zone of Dubai.
The Government Authority of Free Zone in Dubai is responsible for placing free zone companies. The government handles the requirements for registration and license of a business. Dubai is a main centre of starting new business, it is a country of rich businessmen.
Due to this you get an opportunity of good networking, collaboration and extensive growth in the business. The government of Dubai as certain preferable countries and those countries get to receive many types of incentives which are provided by the government.
List of Job sectors in Dubai Free Zone
After you decide the type of business which you want to start in Dubai your next step is to look for a Free Zone place. There are various specific types of sectors in which you can start a Free Zone business.
- Film cooperation
- Education material
- Content production
- Gaming productions
- Music productions
- Printing productions
- Radio productions
- Performing arts
- TV productions
- Web designing and development
- Online electronic marketing
- Graphic designing
These are some of the professional Free Zone companies in which you can start in Dubai. In this case it shows that professions which are related to performance and publishing work as high scope of business.
Requirements to setup a free zone company in Dubai
Free zone company name
Choosing a company name is an important process while starting a company. But while choosing a company name it is important to know that the name is not copied or related to any other company names. The name of the company has to be unique and it has to not be relevant to religious or political names. The name has to be different from the rest of the other companies in Dubai and the name has to be named according to the type of company.
Some of the regulations to be followed in the naming of the company are as follows;
- The name has to not affect the public
- The name has to not be linked with politics, religion and relevance to external bodies.
- The name has to not been registered before. It has to be completely new name for the new company.
- The name needs to have a legal status such as LLC, FZE, DMCC, etc.
- The name has to be relevant to the trade activity done in the company
- The Name has to be checked with the Department of Economic Development to know whether the name is permitted.
Documents required for free zone company
- Completion of the application form
- Submission of business plan
- Trade license
- Company registration certificate
- Colored passport copies of shareholders
- Specimen signature of the company’s shareholders
- 2 years audit report statement
- NOC from the sponsor
- Title deed
- Letter of intent
- Registration Identification Code
- Birth certificate
- Passport copy
- Passport size photo
- Education qualification
- Bank/ Financial statement
- NIC copy
- Curriculum vitae
Cost of Dubai free zone company registration
Generally, there is no specific capital requirements to start a Free Zone company in Dubai. Here are few of the specific assumed payments;
- In KIZAD the minimum paid-up capital for LLC company form in 150,000
- In Dubai Airport Free Zone, the minimum share capital is AED is 1000.
- In DMCE the minimum share capital for the company to be paid is AED 50,000 and AED 10,000 is to be paid for each shareholder.
- The General Trading License is minimum AED 1 million share capital
- In Hamriya Free Zone, a FZE can be created with the share capital of AED 150,000.
Office space for Dubai free zone company
There are various spaces available in Dubai to form a Free Zone company. The office equipment depends on the number of staffs working or going to work in your company. In Dubai Airport Free Zone there are options which can be chosen by you for the office space some of the packages available are as follows;
- Office packages
- Small desk office packages and
- Executive office packages
Advantages of setting up a free zone company in Dubai
Here are the advantages of Dubai free zone company formation:
- You get 100% of ownership investors no matter what their nationality is
- 100% of tax exemption on incomes or gains from your personal or corporate
- 100% repatriation of capital and profits
- Excluding all imports and exports duties
- Offices in Dubai have warehouse facilities
- An individual as an option to set up their own company
- Corporate tax for a period of 15 years which can also be renewed for another 15 years
- Operations are done secretively
- Doing business in Dubai is flexible and engage
- There are fewer renewable charges for the company in free zone
- Freedom to have less properties in Dubai
- Can participate in various activities
- There will not be any problem to open an account in Dubai
- Can liquidate anything any time and about fetcher Dubai.
- Guidance for living and providing facilities to stay
- Supporting staff visa and other support services
Yes, he or she needs to have enough work experience to open a Free Zone company in Dubai.
Yes! And it is compulsory to do an online registration
It takes around 7 working days to confirm your application
The Online fee is AED 1,035.