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Freezone Company Formation in Dubai

About Freezone Company Formation Dubai

Free Zone are specific economic zones that provide custom duty benefits and tax exemptions to investors to set up a company in a UAE Free Zone and each of them is regulated by a set framework of rules. They are designed to stimulate foreign investment with 100 percent ownership for all countries, as well as quicker start-up operations, labour and immigration procedures, as well as other legal services.

General Guidelines to be Considered Before Setting Up Freezone Company in UAE

Free zone company formation in the UAE is a considerably simpler process overall. The authorities in the free zone require minimum paperwork and time. The following is an outline of the primary steps involved in establishing a company in a free zone.

  • Find out the kind of legal entity
  • Select a trade name
  • Put in an application for a business license.
  • Decide a location for your office.
  • Obtain the necessary pre-approvals, register your company, and acquire your license.

Advantages of Freezone Company Formation

STRATEGIC GEOGRAPHIC LOCATION
STABLE ECONOMY
INVESTOR FRIENDLY BUSINESS POLICIES
100% FOREIGN OWNERSHIP
LOW TAXATION RATES
HASSLE-FREE BUSINESS SETUP PROCESS
SAFE, SECURE, AND TOP-CLASS INFRASTRUCTURE

Advantages of Freezone Company Formation

STRATEGIC GEOGRAPHIC LOCATION
STABLE ECONOMY
INVESTOR FRIENDLY BUSINESS POLICIES
100% FOREIGN OWNERSHIP
LOW TAXATION RATES
HASSLE-FREE BUSINESS SETUP PROCESS
SAFE, SECURE, AND TOP-CLASS INFRASTRUCTURE

Freezone Business Licenses

In Dubai, there are currently more than 20 Free Zones, each of which focuses on a specific sector and offers permits to businesses in that sector.

All types of companies, from small start-ups to huge multinational enterprises and exporters, can take advantage of Dubai’s excellent logistics and supply-chain infrastructure, which is spread all over the city and available to all types of companies within the Free Zones.

Some of these industries include aviation, commodities, construction, e-commerce, education, fashion and design, finance and banking, food and agriculture, healthcare, hospitality and tourism, humanitarian, industrial, technology, logistics, media, and real estate & trade.

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International Free Zone Authority (IFZA)

IFZA is quickly becoming one of the most prominent locations in the UAE for international trades. More foreign investors are interested in establishing company in Dubai due to the lucrative features such as 100% ownership, attractive infrastructure, and 100% repatriation policy.

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Jebel Ali Free Zone (JAFZA)

JAFZA is one of the most powerful free zones in Dubai that is constantly working towards the economic growth of the country. It is the biggest free zone in MENA (Middle East and North Africa) that offers infinite opportunities for almost all foreign investors.

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Meydan Free Zone (MFZ)

MFZ is located near prominent commercial and financial hubs, which is in close proximity to Dubai International Airport and other intersections. Meydan offers competitive packages and lucrative growth opportunities to companies that want to set up in Dubai.

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Dubai Multi Commodities Centre FZ (DMCC)

DMCC has everything you need to get your business up and running. Known as the “Global Free Zone of the Year” seven times by the Financial Times, it has a thriving community, cutting-edge facilities and services, and a diverse selection of properties, all within easy reach of the world’s best airports, seaports, and roadways.

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Hamriyah Free Zone Authority (HFZA)

Hamriyah Free Zone Authority offers foreign investors an opportunity to set up a business among the six diverse sectors namely industrial manufacturing, global logistics, oil and gas, SMEs, maritime and food. Each business activity comes with a range of features such as office spaces, industrial plots and warehouses and other attractive packages.

Business Formation Process in DUBAI

Setting up a business in Dubai can be a complex process. As your partner, JSB can save you time, money and worry. Here’s a simple overview of the process for setting up a business in Dubai:
1.
Prepare Documentation

If you’re an overseas entrepreneur starting up in a new country for the first time, the documentation process can be daunting. We help you to make the right decisions for your Dubai company and handle all of the complex paperwork.

2.
Business License

Choosing the right license and applying for it are essential to getting your business setup in Dubai right. Having an in-depth understanding of the dos and don’ts around setting up your business license will help you to avoid the common traps we see people fall into. For instance, some business categories require prior approvals from certain authorities. A company formation expert will guide you through the necessary requirements to start your business.

3.
Visa Process

Private companies can obtain new employment entry permits for their employees provided they apply for residence visa status within 30 days of the employee’s entry into the UAE.

4.
Bank Account

Setting up a corporate bank account in the UAE can be a little arduous for international entrepreneurs. It requires careful consideration and there are several boxes to tick to ensure you have everything in place before approaching your bank of choice.

Business Formation Process in DUBAI

Setting up a business in Dubai can be a complex process. As your partner, JSB can save you time, money and worry. Here’s a simple overview of the process for setting up a business in Dubai:

Prepare Documentation

Business License

Visa Processing

Bank Account Opening

Freezone company formation checklist

"There is no one who loves pain itself, who seeks after it and wants to have it, simply because it is pain..."

1. Select a Free Zone

The kinds of facilities that are accessible and the visa limits that are offered might also differ from one Free Zone to the other. Each Free Zone has its own list of permitted activities that can be carried out within the respective Free Zone. Because of this, getting an expert consultation at this point is strongly suggested.

2. Find out what kind of legal entity you want to run

Find out what kind of organization you want to establish in the free zones, then set business up there accordingly. The capital stipulation for such an entity varies depending on the specific free zone in which you want to start a company.

3. Pick a Trade Name

Pick a good trading name for your business after you have determined the kind of legal entity it will be. It is important to keep in mind that you should verify this information with the particular free zone authorities regarding the allowed trade names and whether or not the chosen name has been registered.

4. Choose Business Activity

It is crucial to decide what industry you will trade in. There are several business activities listed by the freezone in Dubai, including, agriculture, trading, manufacturing, and hospitality.

5. Choose Office Type

Serviced offices in the UAE mainland are managed and owned by a third party and have everything you require to move in straightaway. There are desks, telephone, internet, and reception. Your lease covers rent, office supplies, and utilities. There is also shell and core office, which requires a complete fit-out and design, including bills. The business owner supplies their personal equipment and pays fees for pre-fitted office spaces.

6. Select a Location for Your Office

All business owners given help by free zone authorities in the form of a flex-desk workplace service. Offices in free zones can either be purchased outright or rented on a monthly basis. The number of employees at your firm as well as the kind of the commercial activities it engages in will determine the requirements for the office.

7. Submit an Application for Initial Approval

The initial approval process in case if any license that requires an additional approval from a third party can apply their approval on the initial approval document.

8. Sign the Documents for Company Formation

After the preliminary approval has been received, a virtual meeting with a Free Zone agent must be scheduled. During the meeting, the UBOs and shareholders will have their passports checked in order to verify their identities, and various documents. However, this is not common in the case of all the freezones we are working with.

9. Collect the License

After all of the necessary approvals have been received, the registration forms have been signed, and all payments have been made, you can collect the license.

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Freezone Business Formation FAQ's

1.
Can you explain the concept of a free zone company?

A free zone is a particular geographical area in the UAE in which all international businesses are permitted to trade products and services and can take advantage of benefits such as reduced or eliminated taxes within certain limits.

2.
If I set up a business in the UAE, will I be able to keep its full ownership?

Yes. If you establish your company in a Free Zone, then you can hold one hundred percent of the ownership in your company.

3.
What is the minimum amount of necessary share capital for a business to be formed in a free zone?

Most free zones do not require a share capital to launch a business.

4.
If I establish a business in a free zone, will I be able to conduct business outside of that zone?

You have permission to conduct business not only within the free zone’s designated area but globally. If you intend to conduct business on the mainland of the UAE, you will either need the assistance of a mainland registered company or register a company on the mainland yourself.

5.
Do I have to visit UAE to set up my business?

No, in most cases, a free zone business can be established digitally with the assistance of a company that specializes in business setup and that’s where we can help. However, your physical presence will be required in order to apply for a visa.

6.
How many visas can I obtain for the company at this time? After we launch the company, will I be able to apply for unlimited visas?

No, you cannot get an unlimited number of visas for your business. The number of visas that can be allocated to a facility is either directly proportional to the size of the facility or must be purchased separately.

7.
If I establish my company in a free zone, will there be any tax advantages for me?

If you trade goods or services either within the free zone or globally, you will not be subjected to any form of taxation, including but not limited to duty tax, income tax, corporate tax, or double taxation. Set up in a free zone, your business will not only get 0% corporate and personal tax benefit but will also be exempt from VAT. Currently, VAT is set at 5% and applies to any goods or services in Dubai and the region. Free Zones also permit full repatriation of profits and capital.

Since free zone businesses are exempt from import and export tax means they can trade without any currency restrictions.

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