How To Start A Business In A Dubai Free Zone?


Dubaisouth

Uploaded on Sep 14, 2022

Category Business

Dubai, the Middle East's commercial hub, has long been a sought-after location for businesses and entrepreneurs to establish or expand their operations. With the world's fastest growing economy, excellent infrastructure, transportation links, and a one-of-a-kind low tax regime, it's easy to see why entrepreneurs from all over the world flock to the UAE and Dubai to do business. Setting up a new business in Dubai is relatively simple, especially in the UAE's free zones. This blog post covers everything you need to know about establishing a business center in a Dubai free zone.

Category Business

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How To Start A Business In A Dubai Free Zone?

How To Start A Business In A Dubai Free Zone? Dubai, the commercial hub of the Middle East, has been a sought-after choice for businesses and entrepreneurs to start or grow their businesses. A fastest growing economy with excellent infrastructure, transport links and a unique low tax regime – it is clear why entrepreneurs across the globe flock to the UAE and Dubai to do business. Setting up a new business in Dubai is relatively simple and straightforward, especially in UAE’s free zones. This blog post provides detailed information on everything you need to know about starting a business center in Dubai free zone. What Is A Free Zone? The free trade zones or free zone (FZE) concept introduced by the Dubai government is a special economic zone introduced to encourage foreign investment and promote business operations in the city. Essentially, it is a business zone where business owners can enjoy a myriad of benefits such as tax concessions, no currency restrictions, sole ownership and full repatriation of capital and profits. Currently, there are more than 30 FZEs in Dubai, each catering to specific industries and sectors. If you are looking for 100% ownership of your business center in Dubai while enjoying tax exemptions, consider applying for a license in one of the free zones. Setting Up A Business Center In Dubai Free Zone Starting your new business in an FZE is relatively easy. Here is how to get started. 1. Choose A Business Activity 2. Find A Free Zone 3. Choose A Company Name 4. Apply For A Business License 5. Open A Corporate Bank Account 6. Set Up An Office Location 1. Choose A Business Activity The first step to incorporating your business into the free zone in UAE is to determine the nature of your venture. There are hundreds of business activities to choose from, all falling into various groups within the industrial, commercial, professional and tourism sectors. Selecting the most suitable business activity is essential to determine where you can register your company and the type of license you will apply for. Selecting a business activity is very straightforward. Moreover, many free zones in Dubai allow choosing multiple business activities under a single license. 2. Find A Free Zone As stated above, there are over 30 free zones from which you need to select the ideal FZE for your business center in Dubai. Since each FZE caters to a specific business niche, it is recommended to make a decision based on your business activities and operations. Choosing a sector-specific free zone helps your organization benefit from the specialized services for your niche and keeps your business in close proximity to competitors and partners. 3. Choose A Company Name When choosing and registering your business name, it is essential to follow UAE’s strict naming conventions. Make sure to avoid offensive language or references to religious or political groups. If you are naming your business after a person, you will have to prove that person is a partner or shareholder in your business. Moreover, you can only use full personal names, as initials or abbreviations are not permitted. Seeking the expertise of business consultants would save your time and effort, as they would help you decide on a compliant trade name, check its availability and get the name approved. 4. Apply For A Business License One of the most important requirements to setup new business in Dubai FZE is acquiring a license. Having a trade license ensures your business has the legal right to function within the country. The documents required for FZE company formation will vary according to the type of license you are applying for and your chosen free zone. However, there are a few basic documents you can expect to submit, such as a completed application form, shareholder passport copies, visa copies and the company’s articles of association. 5. Open A Corporate Bank Account Once your trade license request is approved and you have received all the official documents, open a corporate bank account for your business. Having a free zone business bank account helps your company to track your financial transactions, calculate tax liabilities and regulate cash flow efficiently. Whether you are choosing a local or international bank, make sure to check the bank’s eligibility criteria and submit all the required documents. 6. Set Up An Office Location Whether it is a mainland or a free zone company, it is mandatory for all businesses to have physical office space in Dubai. Fortunately, setting up a new office space in Dubai free zone is easy as a large variety of spaces are available in different sizes and facilities. You may rent, lease or hire the space required for your business operations. Depending on the type of business you will engage in, you need to make the right choice. Ready To Set Up A New Business In WDhileu thbe parocie?ss of starting the best business center in the Dubai free zone is seemingly long yet straightforward, the turnaround will only take a matter of weeks when done right. That is why it is a good idea to seek the expertise and advice of experienced business setup consultants in the UAE. Dubai South offer free guidance to all the potential investors and helps them with fast and efficient business setup services. For more information about starting a business in Dubai free zone, please call us on +971-800-76884, send an email to [email protected] Ref: https://www.businessread.co/how-to-start-a-business-in-a-dubai-free-zone/ Contact Us Dubai South Address: Dubai South Headquarters: P.O. Box 282228, Dubai South, UAE Contacts: https://www.dubaisouth.ae/ Within UAE (toll free): 800-SOUTH / 800- 76884 International: +971-800-76884 Email: [email protected]