Starting a Business in Dubai free zone

1. Business in Dubai Free zone

2. Dubai free zone Free zones or Free trade zones in Dubai are business zones where companies operating inside the free zone area are exempt from all types taxes such as value added tax (VAT), Income tax, Corporate Tax and customs. Business owners inside the free zone areas in Dubai have 100% ownership of the business.

3. Some of the major Free zones operating in Dubai are: • Dubai Airport Free Zone • Dubai Auto Zone • Dubai Design District • Dubai Healthcare city • Dubai International Academic City • Dubai Internet City • Dubai International Financial Center • Dubai Knowledge Village • Dubai Media City • Dubai Gold and Diamond Park • Dubai Multi Commodities Center • Dubai Silicon Oasis • International Media Production Zone • Jebel Ali Free Zone • Dubai Production City • Dubai World Central • Dubai Studio City

4. Procedures to Setup a business in the UAE free zones • Determine the type of legal organization • Decide which type of entity you want to set up in any of the free zones. The capital requirements for such business entity depends upon that particular free zone where you want to form a company; for example, there is no minimum capital requirements for setting up a business in twofour54, whereas in Dubai Airport Free Zone you are supposed to have a minimum share capital requirement of AED 150,000. • 2) Choose a business name • After deciding the type of legal entity, choose a business name for your company. Note that you bought to cross-check with the respective free zone authority about the permitted trade names and whether the name has already been registered.

5. 3) Apply for trade license • After choosing a business name and registering the same in the free zone authority’s portal, you have to register for a Business license. The list of the different business licenses issued by the free zone authorities or by the government has been stated above. The type of business license depends on the main activity of your business. You will have to submit the supporting documents while applying for the license. • 4) Choose a work space • Free zone authorities provide flex-desk office service to support new business entities. You can buy or lease office spaces in free zones. Office requirements depend upon the number of employees and type of business activity done by the company. • 5) Get pre-approval, register your business and get the business license • Get the opening approval and other related business approvals from the specific authorities, register your business at the business portal, and get your business license. It will nearly take 2-4 weeks to get done with this process. Once you get the business license, you are all good to start your business.

6. Documents required for setting up a business in UAE • General Documents • 2) Documents for consultancy License • 3) Documents for industrial License • 4) Documents for branch of companies

7. Company Formation Service in UAE Having your own company is the dream of every business man. The opportunities provided in the UAE are endless. It is potentially the most productive business destinations that you can find around the world. Emirates such as Dubai are a prime tourist destination and a hub for the business activities. But as much ascompany formation services in Dubai is fruitful for the investors and business man, it is a very extensive process and hard to understand for an average person who is not at all aware of the language and the laws of Dubai.