Located close to downtown Dubai, Meydan Free Zone has commercial development spaces, business parks and splendid accommodation facilities. It is an ideal location for startups, freelancers and small businesses.
Meydan is one of the highly developed areas in Dubai with world-class state-of-the-art purpose-built infrastructure. Meydan Free Zone is centrally located, with exceptional connectivity, and least expensive options to set up business in Dubai.
Located close to downtown Dubai, Meydan Free Zone is the visionary concept of His Highness Sheik Mohammed Bin Rashid Al Maktoum, UAE Vice-President and Ruler of Dubai. The Meydan Free Zone has commercial development spaces, state-of-the-art business parks, world-class hotels, entertainment, and amusement parks, residential villa communities, hospitals, sports center, equestrian center, and shopping destinations. It is an ideal location for startups, freelancers and small businesses with no requirement to deposit capital or produce financial statements to have accounts audited. Meydan Free zone in Dubai, UAE permits 100 percent foreign ownership, guarantees 100 percent tax exemption and places no restriction on hiring foreign labor.
Why Set Up Your Business in Meydan Free Zone?
If you are looking to set up a business in Dubai, the Meydan Free Zone presents an unparalleled access to UAE and international markets by providing the competitive advantage for startups, innovators, and offers exclusive business setup facilities for low costs without compromising the standards in location and ease of incorporation. The process for setting up a business in Meydan Free Zone (MFZ) is streamlined, flexible and drives your business with cutting-edge telecom support and high-speed internet connectivity.
The strategically located free zone offers a prime spot in Dubai, with high standards and ease of incorporation being the primary objectives of the Meydan Free Zone Authority. The Meydan Free Zone Authority is keen in offering international free zone trading status for businesses and maintain cutting-edge services by offering the flexibility in operating through flex-desk in contrast to a full-time office inspires you to focus on expanding your business without having to pay high upfront costs and commercial rental fees. Inspired by the startups and small businesses in the ease of operating, MFZ is an ideal, cost-effective location and springboard for expanding your business by availing the maximum benefits.
What Is a Free Zone in Dubai?
Free zones (also known as free trade zones) are designed and built to accelerate international business in UAE by offering attractive schemes and flexible contracts. A company in one of the Dubai free zones can be 100% owned by expatriates and foreign nationals. The business setup system follows an effective single window administration for convenience. Usually, the free zones are either connected to industry-specific areas or shipping ports.
The incentives provided by the free zones must be taken into account while registering for a business setup in UAE free zones. The rules and laws with the concerned business in the region must be recognized in order to make a well-informed decision. Setting up business in a free zone will liberate you and your business from the severe customs requirements and other restrictive structures. Consequently, a business operating in the free zone is exempt from the restrictive laws of the region pertaining to business and customs, which are very welcoming for companies, organizations, investors, and businessmen.
The Free Zone Authority in that zone will assist you in administrating and incorporating your company in short-time as its part of their duty to help boost the growth of such companies. There is no reason to worry as the authorities always have a keen watch on your business entity and lend a helping hand as long as your business operates in the Free Zone. Operating in a free zone you have access to a pool of skilled workforce that you can hire fitting the needs of your company or industry, secure a suitable business license, permits and follow guidelines which are tailor-made with tax exemptions for specific industries.
Advantages of Setting Up a Business in Meydan Free Zone
Operations in Meydan Free Zone are facilitated by the state government of the Emirate of Dubai, and the rules & regulations are designed to attract foreign investors and businessmen to start company or operations in Dubai by giving exemptions in tax, low duties for imports/exports. Starting a company in Meydan Free Zone entities you to the following benefits:
- World-class Infrastructure and facilities at a premium location in Dubai, near Mohammad Bin Rashid Al Maktoum City
- A secure and regulated environment with round-the-clock security
- High-speed connectivity to Dubai Logistics Corridor
- Streamlined process to set up and register your business
- Effective Free Zone Establishment (FZE) and Free Zone Limited Liability Company (FZ-LLC) operating licenses
- Companies can operate 24 hours a day
- Provision of flexi-desk as well as serviced office spaces
- Guaranteed 50-year tax holiday on personal and corporate tax
- No currency restrictions or foreign exchange controls
- Lowest setup and renewal costs for businesses
- 100% repatriation of capital and profits
- 100% expat ownership
- Exemption of personal, corporate and capital taxes
- Exemption from import and export duties
- Convenience in hiring skilled foreign labor
- Residency visas for 3 years with renewal
- Foreign individual as well as corporate ownership allowed
Limitations in the Free Zone
- A company registered in the free zone area is not permitted to trade directly with clients and customers in the UAE market. The free zone company can operate in the UAE market by appointing local distributors
- The company has to be compliant with the prerequisites of renting and operating within the free zone
- High notarization costs and 5% customs duty for operating within UAE market
Business Licenses in Meydan Free Zone
1. Commercial License
A commercial license permits operations involving trading, import/export, and distribution of goods or services.
2. Consulting License
A consulting license permits the undertaking of consulting activities such as business, human resources, management, and professional services.
3. Media License
A media license permits the operation of media services, advertising, branding, and communication services.
Business Activities Permitted in Meydan Free Zone
The Meydan Free Zone allows the registration, licensing and operation of the below-mentioned business activities:
- Consultancy and Professional Services.
- Import and Export of Goods.
- Marketing and Communications
- Media Operations
- Free Lancing
Fee for Initial Business Setup
AED 10,010 (one-time)
Trade License Fee
AED 10,010 (for a single activity, renewable every year)
Virtual Office Fee
AED 6,000 (renewable every year)
How to Start Your Business in Meydan Free Zone?
Here is the step-by-step process for registering a company in Meydan free zone:
- Submit a company formation application form, along with the required documents and the processing fee at the Free Zone Authority
- Get the trade name registered
- These would be verified, and provided a preliminary approval if everything is alright [takes 1-2 weeks]
- Certain businesses might require special approvals from government authorities like the Real Estate Regulatory Agency (RERA), etc.
Documents Required to Set Up a Business in Meydan Free Zone
- Business plan (for at least 3-year period)
- 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 page copies of the shareholders
Take your business to the next level by starting it in Meydan Free Zone. For any other information or queries about setting up your company in Meydan free zone, do contact us – we’d be glad to help.