Dubai Free Zone is one of Dubai's top rising free zones. It offers world-class infrastructure, a strategic location, and an environmentally friendly atmosphere to company owners and entrepreneurs. As a result, it is a suitable location for various commercial activities.
If you want to become a billionaire or more, doing business in free zones is excellent. There are more than 30 free zones in Dubai, and each free zone is distinct from the others. So, whether it comes to building construction or commercial areas, each one is unique. As a result, now is the most delicate moment to establish your dream business in these free zones.
An Overview of Free Zone Company Formation
A freezone is an appealing jurisdiction for investors who seek complete control over their business. As a result, the concept of a "Freezone" has become recognised worldwide as a model for developing and promoting business in various countries.
In addition, Dubai free zones have been established in several areas, and they have been reserved for specific commercial activities.
There are two main types of Free Zone Corporate entities, namely,
- Free Zone establishment
- Free Zone company
Advantages of Company Formation Dubai Free Zone
Before starting a business, every sector requires a thorough investigation. Similarly, before beginning a business in the Dubai free zone, it is essential to understand the advantages of company formation in the Dubai free zone.
- 100% foreign ownership
- 100% repatriation of capital and profits
- 100% corporate and personal income tax exemption
- Absence of currency restrictions
- Wide variety of licensable activities
- Serviced desks and offices for SMEs and start-ups
- Excellent support services
Disadvantages of Company Formation in Dubai Free Zone
As we all know, everything has advantages and disadvantages. Entrepreneurs and investors engage with various individuals and companies when it comes to business. Understanding the benefit is important. Furthermore, recognising the downsides is essential in the current marketplace.
Knowing the benefits and drawbacks of establishing a business is a good thing.
We can't say that every firm will be successful. Every firm has ups and downs. However, the courage and steadiness of businesspeople will help them thrive in their business.
As a result, one should not be reluctant to learn about the drawbacks of company formation in the Dubai freezone.
Doing business on the Dubai mainland is restricted to freezone enterprises. A fixed investment is occasionally required for company formation in the Dubai freezone.
In addition, when you register a company in the Dubai free zone, you are limited to leasing office space exclusively in the authorised free zones.
Freezones in Dubai
Free Zones in Dubai are unique and eco-friendly for doing business and investing. Before starting a business, it is essential to understand Dubai's various types of free zones. Below are the different free zones in Dubai
What are the Numerous Processes for Forming a Corporation in Dubai Free Zone?
The formation of a freezone company, like any other business in Dubai, is subject to legal requirements. Therefore, the guidelines should be followed while establishing a company or business.
Below are the simple steps to keep in mind while starting a business in the Dubai Freezones.
- Determine the type of legal entity
- Choose a trading name
- Apply for a business license
- Choose a suitable office space
- Obtain pre-approvals, register your business and get your license
Business Activities in Dubai Free Zone
Before beginning a business, entrepreneurs should conduct extensive studies on the numerous business activities performed in Dubai Free Zone. Consider the following activities that help you decide which business to start.
- Content production
- Advertising
- Animation
- Corporate Film production
- Branding Agency
- Events/Festivals
- Exhibitions/Conferences
Documents Required for Starting a Business in Dubai Freezone
To start a company or business entity, the investors or business people should submit the required documents to the respective authorities.
The following documents required to be submitted are,
- Completed application form
- Business plan
- Copy of existing trade licence/registration certificate
- Coloured passport copies of the company's shareholders
- Specimen signature of the company's shareholders
Types of Licenses for Business in Freezone?
A licence is required to start a business everywhere in the world. Therefore, to establish a business in any free zones, you must first understand the various licences available in the Dubai freezone.
- Commercial/trade license
- Consultancy/services license
- Industrial license
- Educational license
- Media license
- eCommerce license
- Offshore license
- Freelancer license
- Warehousing license
- Manufacturing license
Is it Possible to Own Office Space in Dubai Freezone?
It is not required to have an office in the Dubai Freezone. However, if you believe your business needs office space, you can lease, rent, or purchase it. You own or rent an office space in Dubai freezone at a lower cost than the Dubai mainland. Furthermore, the cost of establishing an office varies based on the area you select and the kind of your business.
I hope the information presented above satisfied you and provided you with a clear image of how to start a business in the Dubai free zone. To start a business in Dubai, you must undergo several legal procedures, which might be challenging to manage as a foreigner.
Consequently, you may proceed with the business incorporation procedure with our assistance.
Our Role
We at Business Setup Worldwide make it a time-saving and cost-effective operation thanks to our many years of experience and appropriate contacts in Dubai. As a result, we recommend you contact us for further information and fulfil your dream.
