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business in a Dubai free zone

How to start a business in a Dubai free zone

It is no secret that Dubai currently has one of the best markets on offer, be it for budding entrepreneurs or established businesses. Dubai offers equal access to every investor and has made laws that are friendlier for any investor to start the business in Dubai.

The whole process of starting a business in Dubai has been made very easy and smooth due to different provisions bought in by the government from time to time.

An investor can start a business in Dubai at various locations be it mainland Dubai or Freezone Dubai. however, when it comes to opening up business set up in mainland Dubai, the investor has to choose a local partner in order to be able to start the business, which eventually becomes a turn off for various investors as they are not comfortable with the idea of having to choose a local partner which will allow them to start the business in Dubai as per the established laws.

Due to the compulsion of having to choose a local partner with 51% shares Freezones in Dubai have become very popular among the investors as no such rule is required to be followed while starting a business in free zone Dubai. In Freezones of Dubai, 100% foreign ownership has been allowed as such making them a big hit among the investors. Freezone in Dubai is a special economic area where an investor can have special tax fee status and trade conditions are such that any investor can manufacture.

Import/export goods without having to pay customs duties. Freezones in Dubai have been established at places of transit like seaports, airports in order to help the investor to increase their trading opportunities. Freezones in Dubai have been set up across multiple locations with each freezone being kept open for a particular business activity.

Starting a business in Dubai Freezone has many advantages for the investors with some of them listed as below-:
  • 1. Complete foreign ownership as no local partner is required.
  • 2. The whole of the profits earned can be repatriated.
  • 3. Tax-free business zones with an investor not bound to pay any kind of taxes.
  • 4. There are no controls over foreign currency exchanges and no limit being imposed on funds transfer.
  • 5. No duties being charged on any kind of goods.
  • 6. The energy needs can be very inexpensive in all Freezones.
  • 7. Easy procedure while applying for a business license.
  • 8. Office spaces available in abundance both for sale as well as rent.
  • 9. Easy to obtain visas for skilled workers as they have been made very affordable.
  • 10. One can operate the offices 24*7 as no timing restrictions have been put in pace.

Procedure that one needs to follow while starting a business in freezone Dubai

  • Type of company: - while deciding to start a business in freezone Dubai one has to decide the type of business that has to be started and also the freezone where the investor intends to start the business as different Freezones have different requirements that will need to be fulfilled.
  • Trade name:- Once the investors have decided on the type of business that will be started in Dubai free zone, it is time to choose the name for the same and at the same time keep in mind while naming one should follow the making conventions that have been put in place by the government.
  • Business license: - Once the name has been decided and has been registered with the concerned authority, the investor needs to apply for a business license. Different licenses are provided in different Freezones for various activities.
  • Office space: - once the license has been obtained for starting a business in Dubai Freezone it is time to look out for a office space. One can either buy the space or hire the same on rent.
  • Approvals and License: - the investors need to get all the approvals from different authorities before a license can be issued. Once all the approvals have been taken the investor can start the business. The whole process is very simple and can take merely a time of 2-4 weeks.
Documents that will need to be produced before starting a business in freezone

A number of documents will need to be produced by the investor and get approved from the Gulf Cooperation Council or the Arab embassy:

  • 1. Application license form/.
  • 2. Business card.
  • 3. Business plan outlay.
  • 4. MOA(Memorandum of Association) and AOA(Articles of Association)
  • 5. Passport copies.
  • Banking reference and license of the partners existing business if required.

The above-discussed procedure needs to be followed by an investor while starting a business in the Dubai free zone. The outlaid process is a simple and has been made easy by the government so as to make the process friendly for investors. The whole process has been put out in its simpler terms and will not take more than 4 weeks to get completed and paving the way for the investor to start a business in a Dubai Freezone.

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