Business setup in Dubai free zone may prove to be quite strategic for any entrepreneur who may want to leverage the city’s dynamic economy and operating environment. So here is a step-by-step guide on how to go through the process of business setup in Dubai Free zone.
If you are an entrepreneur aspiring to leverage on dynamic economy and operating environment of Dubai, setting up business in Dubai Free zone can prove to be a strategic decision.
Step 1: Choose the Right Free zone
The first step in your business setup is the selection of an appropriate Free zone. More than 30 different freezones are found in Dubai. These are specially developed to accommodate various industries and business activities. Research and choose the Freezone that addresses all your business needs and objectives.
Step 2: Determine the Legal Structure
Next, decide on your business’s legal structure. Some of them are the type of Free-zone Limited Liability Companies, branch offices, or freelancers. All the types have specific requirements and uses, so you can choose the one that can fit with your business model and your arrival objectives for your company formation in Dubai.
Step 3: Select Your Business Activities
Choose and define the business activities that you will be doing. Freezones specify predefined lists of activities that are allowed under the chosen freezone. Verify if your chosen ones are allowed under the chosen freezone. This is one of the most critical steps regarding the necessary license and permission for the business setup in UAE.
Step 4: Reserve Your Trade Name
Reserving a trade name is one of the prerequisites for the business setup in Dubai Freezone. The chosen trade name shall be in line with the laws and regulations of UAE and at the same time be unique, not resembling any other.
Step 5: Apply for Initial Approval
Once the reservation is done of your trade name, you have to seek initial approval from the Freezone authority. This requires you to submit your business plan, passports of the shareholders and managers, and necessary documents to the authority. Initial approval means you can continue with your company setup in Dubai.
Step 6: Lease Office Space
Leasing office space is a prerequisite for most freezones. Based on your business nature and Freezone laws, you may require a physical office or a flexi-desk. Book your office space at the start itself as a part of the process of company setup in UAE ensuring that this meets the freezone’s requirements.
Step 7: Arrange Legal Documentation
Prepare all the legal documents both Memorandum of Association and Articles of Association outlining ownership structure, business activities, and governance of your company. This is needed for both; mainland company formation in Dubai and freezone companies.
Step 8: Apply for a license
Once all the documents are in place, You can simply file your license application with the Freezone authority which includes the details of your business activities, and office lease agreement with the other documents above. It is the acquiring the licence of the Freezone business license Dubai that dictates the future of the Freezone company formation in Dubai.
Step 9: Opening a Corporate Bank Account
Open a corporate bank account in Dubai just immediately after you get your business license. This will be the account through which all of your business transactions and financial activities are run.
Step 10: Finalize Visa Applications
Having given sufficient time for Dubai business setup, the last process now is that of applying for visas for you and all your employees. Application for residency permits is facilitated by freezones that have visa services. You are supposed to be sure that you are meeting the immigration rules to clear your Dubai business setup freezone.
Expertise and Support
The availability of Dubai business setup consultants and Dubai business setup experts means making freezone company formation in Dubai even easier. The professionals will indeed aid you from selecting the right freezone to getting the right documentation and compliance. The hassles of Freezone business setup in Dubai remain absent when one resorts to their services.
Conclusion
Formation of business in a Dubai freezone is a process that is segmented into many steps. Each step is important for company setup in Dubai. The guide will help you set up a successfully running business in one of the world’s most dynamic economic hubs. The Dubai business setup services can help one establish an LLC or a branch office. It’s really important to gain a good understanding of the basics associated with Freezone company formation in Dubai to achieve success. Additionally,Company Formation Corporate Services Providers in Dubai guide about how to set up a business in Dubai Freezone.
