Do you want your next entrepreneurial venture overseas? Then the Medan free zone in Dubai is suitable for your business setup. This blog will assist you with in-depth information.
Meydan is one of Dubai's most developed neighbourhoods, with world-class, purpose-built infrastructure. As a result, Meydan Free Zone is conveniently located, has excellent connectivity, and is one of the most cost-effective ways to start a business in Dubai.
Meydan Free Zone, near downtown Dubai, includes commercial development opportunities, business parks, and excellent lodging options. It is a perfect place for small enterprises, freelancers, and entrepreneurs.
Go on and get to know more about this free zone.
Details about Meydan Free Zone Location
Meydan Free Zone is conveniently positioned in the heart of Dubai, adjacent to Dubai's centre, in a strategic location near Mohammed Bin Rashid Al Makhtoum City, and next to the Dubai Logistics Corridor.
Meydan free zone also enjoys all the advantages that a Dubai free zone offers. Learn more about how to start a business in Dubai mainland.
Approved Business Activities in Meydan Free Zone
The Meydan free area permits the following business activities:
- Consultancy and Professional Services.
- Import and Export of Goods.
- Marketing and Communications
- Media Operations
Why Choose Meydan Free Zone?
The state government of the Emirate of Dubai facilitates activities in Meydan Free Zone, and the laws and regulations are aimed to entice international investors and business people to launch companies or operations in Dubai by providing tax exemptions and reduced import/export charges.
Starting a business in Meydan Free Zone provides you with the following advantages:
- World-class infrastructure and amenities at a prime position near Mohammad Bin Rashid Al Makhtoum City in Dubai.
- Dubai Logistics Corridor has a high-speed connection in a safe and controlled environment with 24-hour security.
- A streamlined process for forming and registering your company.
- Operating licenses for Free Zone Establishment (FZE) and Free Zone Limited Liability Company (FZ-LLC). Learn more about industry license Dubai.
- Offices can work around the clock.
- Flexi-desk and serviced office space are available.
- Personal and business tax holidays are guaranteed for 50 years.
- There are no monetary limitations or prohibitions on foreign exchange.
- Businesses with the lowest setup and renewal expenses.
- 100 per cent capital and profit repatriation.
- 100 per cent owned by ex-pats.
- Personal, business and capital taxes are all exempt, as are import and export levies.
- Hiring skilled foreign workers is more convenient.
- 3-year residency permits with the option to renew foreign individual and corporate ownership are permitted.
Business License in Meydan Free Zone
There are three types of license that Meydan offers. Have a look at it:
A consulting license allows you to do business consulting, human resources consulting, management consulting, and professional services consulting.
A media license provides media services, advertising, branding, and communication services.
A business license will enable you to trade, import/export, and distribute goods and services. Learn more about the commercial license in Dubai.
Legal Entities in Meydan Free Zone
The business structure for company setup in Meydan is following:
- Sole Establishment
- Limited Liability Company
- Representative or Branch Office
How to Start a Business in Meydan Free Zone?
The process for starting a business is straightforward which is as follows:
1. Fill out the Application Form
The first step is to complete the application form and attach any required papers. Then, the application can be submitted online or via email.
2. Clear the Payment
Clear the processing fees as mentioned by the Meydan Free Zone Authority and carry out the further process of business incorporation.
3. Choose a Trade Name
Get the trade name registered and follow the restrictions framed by the government regarding the trade name.
4. Company Registration
After all of your documentation and initial permissions have been obtained, you will need to schedule an appointment with the MFZ to register your free zone firm. This stage takes about 1-2 weeks to complete.
5. Submit the AOA and MOA
Next, all shareholders must sign and certify the Articles of Association (AoA), Memorandum of Association (MoA), and lease agreement before the MFZ officer.
6. Obtain the External Approval
The final stage is to get the necessary external approvals. Some actions, for example, may require clearance from multiple agencies such as DIMC, RERA, and others. For your submission to be processed further, you must offer these permissions to MFZ.
7. Obtain the Business License
Get the business license after submitting every document in the respective authorities.
Required Documents for Company Set up in Meydan Free Zone
The documents that need to be submitted are mentioned below:
For an Individual
- Business plan (for at least 3 years)
- Proof of address (title deed or lease agreement)
- CV of the shareholders
- Original bank reference letter or 6-month bank statement (attested by the bank)
- Passport copies with visa copies of the shareholders
- Signed MOA and AOA
- Application and registration form (available on MFZ website or by email) for all shareholders.
- A business strategy (for a minimum of three years).
- An original bank reference letter or a six-month bank statement (stamped).
- Excellent standing Resolution of the Certificate Board appointing a manager/director, the applicable POA, and activities.
- The parent company's Memorandum of Association and Articles of Association
- Certificate of Registration or Incorporation Manager/CV Director's Colored Passport and Visa Copy
- The shareholder's notarized power of attorney.
- Three name alternatives have been reserved (to be filled out on the MFZ registration form).
Cost of Setting up a Business in Meydan Free Zone
Registration fee: 16350 AED
Trade license: 12,500 AED
Office fee: Varies depending on the size of the office
So here is the deal. It takes much effort for an individual to set up a company overseas.
Business Setup Worldwide assists entrepreneurs and enterprises in completing the essential government department documentation for company creation in the Meydan free zone, allowing them to register their firm in the UAE more quickly.
Please contact us for further information on other main areas of business formation in Meydan, regulating company formation and registration.
1. How long does it take to start a company in Meydan Free Zone?
2. How many business licenses are available in Meydan Free Zone?
More than 1500
3. When was Meydan Free Zone established?
4. Is freelancing a good business in Meydan Free Zone?
Yes, it is suitable.
5. What does MFZ offer?
Commercial development spaces
State-of-the-art business parks
Entertainment, and amusement parks, residential villa communities,
Sports centers, equestrian centers