Free Zone Company Setup

580 min


2023
Free Zone Company
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Due to its excellent tax structure, Dubai is one of the most sought-after locations for business establishments. It is a premier capital city for business and one of the most sought-after locations for foreign investors.

Due to its top-notch infrastructure, advantageous position, easily accessible and diversified market, and affordable operational and logistical costs, it is a preferred option for both foreign and local organizations. Dubai offers more than 25 Free Trade Zones (FTZ), which draws business owners from around the world to set up shop there. You can easily start a business in the free zone for more details visit the Freezone company setup.

Dubai Company Formation

The steps listed below should be followed by any business owner or applicant to register a corporation in Dubai:

Choose a corporate structure.

Before submitting an application for company registration in Dubai, the applicant should first determine the business structure. An applicant has the option to set up an LLC, onshore company, offshore company, free zone company, or branch office in the FTZ. The number of shareholders required capital, and the type of commercial activity all influence the choice of the best business structure.

Name reservation for a firm

The applicant must choose the company name in accordance with local legal requirements. It must not be comparable to the name of another company. The applicant should check with the relevant Free Zone Authority or the Dubai Economic Department (DED) to see if the desired company name is available. The business should operate under the name that has been given official approval.

The following considerations should be made by the applicant while deciding on the company name:

The name should not violate national morale or disturb public peace; it should be in accordance with the company’s legal form; it shouldn’t have been previously registered;uploadarticle.com it should be appropriate for the business activities the company intends to engage in; and it shouldn’t contain the names of any governing bodies, religions, or external bodies; or any of their names or logos.

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It shouldn’t be disparaging, contentious, or offensive.

Entrepreneurs should be given full names rather than nicknames while choosing their names.

Obtain a business licence

After reserving the name, the applicant must submit an application for a business licence in accordance with the types of commercial activities the company plans to conduct in Dubai. A business licence is a legal document that entitles its holder to engage in specified commercial activity. The DED is in charge of issuing licences to local businesses.

The various licencing categories are shown below:

A business licence Trade-related entities are covered under this Industrial licence

Entities involved in manufacturing and industrial operations should submit an application for this licence.

An official licence

This licence should be obtained by service providers, artists, and technologists.

Decide the company’s location and legal jurisdiction.

Candidates must decide where the business’s offices will be located. Candidates have the choice of either purchasing or leasing the land for their offices. The choice of the business activity, the number of employees, and the money set aside by the company for the chosen business activity all influence the choice of office space. Office spaces in Dubai’s various free zones range in size from 20 to 30 square metres to more than 2000 square metres.

Establishing a bank account

The corporation must register a corporate bank account in order to transfer and receive money related to the company’s business after receiving the necessary registrations and approvals from the relevant authorities.

 

 

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2023

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