Business Setup in Dubai Free Zone

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Business setup in Dubai free zone

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Business setup in Dubai free zone
Dubai Free zone license

What is Dubai Free Zone License

Dubai free zone license is a major requirement to register your business in  FZE, FZ LLC. Dubai is one of the Middle East’s most financially rewarding and business-friendly destinations. It is an ideal investment hub due to its ease of access to Asia and other countries. Moreover, Dubai free zones provide facilities for the successful launch of new businesses along with the expansion of the existing ones. As a result, Dubai free zone have become the most popular for both aspiring entrepreneurs and established multinational corporations.

Within each emirate is a free zone, also known as a free trade zone, which is a defined geographical area. The absence of duties and all kinds of taxes in the free zone encourages trade, particularly the import and export of a wide range of goods and services.

Dubai was the First Emirate in the UAE to Implement the Freezone Model.

Know More About Dubai Freezone License

All the business under Dubai free zone license are exempted from all forms of taxation, including VAT, income tax, corporate tax, and customs. Additionally, If you have a business setup in Dubai free zone, then business holders have 100% ownership of their companies.

Furthermore, there are more than 20 types of free zones in Dubai, all offering trading, services, and industrial licenses to investors. Free zones in Dubai are one of the biggest contributors to the GDP of the city. They offer notable business freedom and unlimited trade choices. Start with RadiantBiz and get complete assistance for the best business setup strategies in Dubai free zone.

So, why do we need to establish a free zone company? basically, free zones are setup to attract foreign investment and boost economic activity in the city.

BUSINESS SETUP IN DUBAI FREE ZONE

Major Authorities for Dubai Freezone LicenseHere’s a list of all the major free zone authorities in Dubai that issues a license for your business.

01
DMCC Free Zone (Dubai Multi Commodities Center)- DMCC is the gateway to unparalleled business opportunities that takes your business to new heights. It is the home to more than 21,000 businesses across a wide range of sectors.
02
IFZA (International Free Zone Authority)- IFZA ensures a convenient and strategized business set up with access to global markets. It is one of the most popular free zone choices in Dubai that offers an innovative infrastructure for your business.
03
Meydan – Meydan has been attracting the attention of many foreign investors since its inception in 2010. It is a visionary concept that offers endless possibilities for businesses looking to flourish in Dubai.
04
Jafza (Jebel Ali Free Zone Authority)- Grow your business in the largest free zone of Dubai. Being a flagship free zone, it offers unbounded business opportunities to more than 8700 businesses across many sectors.
05
DWC (Dubai World Central Free Zone)- DWC also known as Dubai South free zone offers exceptional logistics and connectivity to empower businesses and help them grow in a sustainable environment.
06
Dubai Airport Free Zone – DAFZA is a dynamic business hub for investors worldwide. It supports more than 2000 registered businesses from over 20+ sectors. Start your business in one of the most prestigious locations in Dubai.
07
Dubai Internet City – Give an extra edge to your business with DIC. DIC is Dubai’s leading tech hub and the most innovative free zones for tech entrepreneurs and investors.
08
Dubai Media City – DMC is a flourishing media hub in Dubai that offers endless growth opportunities and creates impactful business footprints.
Documents Needed for the Free Zone Business Setup.

Documents and paperwork must be kept handy before the establishment of a Dubai Free Zone company. So, the entrepreneur will need to deliver some documents and get them approved by the concerned authority.

  • Passport copies of all the shareholders.
  • Address of your home country.
  • Contact details of the shareholders.
  • Passport size photographs of all shareholders.
  • 3 options for company name.

Benefits of Business Setup in Dubai Free Zone

Here are the major pointers that convey how beneficial it is to start your business in a free zone in Dubai, UAE

100% Ownership for Expats

No local partner is required, 100% foreign ownership is possible.

Tax Free Zone

Tax-free zones where an investor is not required to pay any taxes.

No Physical Presence Required

There is no need to be physically present and it can be easily done virtually.

No Duties on Goods

There are no duties imposed on any goods.

Availability of Infrastructure

Offices available both for sale and for rent.

No Limits on Money Transfer & Money Exchange

There are no restrictions on foreign currency exchanges & money transfers.

Simple & Fast Process

Applying for a business license is a simple and fast process.

No Time Restrictions

No time restrictions, the offices can be used at anytime.

Visa Validity is For 3 Years

In the case of a free zone company formation, the employee as well as the employer visa is valid for 3 years.

Types of  Legal Entities for Business in Dubai Free Zone

Determining the type of legal entity for your business is a crucial step while starting a company in the Emirates.

Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)

The FZ LLC allows you to have multiple shareholders in your company (a maximum of 5 shareholders). It ensures flexible ways to be protected from debts and any individual liabilities. Furthermore, it offers several other benefits such as the freedom to conduct business activities in any free zones in Dubai and the UAE. In addition, there are no restrictions on the number of visas in FZ LLC. However, it depends on the office size and you can get visas as the office size grows.

Free Zone Establishment (FZE)

The FZE is a free zone establishment that implies you can have a single shareholder for your company. With FZE in Dubai, you have limited access to operate across all free zones in Dubai and UAE. Moreover, the number of visas is also restricted. When you choose FZE over FZ LLC you increase the chances of being solely responsible for the profits and losses of the company.

How to Get Started for Dubai Freezone License?

Starting a free zone company in Dubai, UAE is an easy five step process, below are all the prerequisites for the same:

Choose the type of company

When deciding to start a business in free zone in Dubai, one must first determine the nature of business. Since there are more than 40 freezones in UAE, So one must choose the best freezone as per his/her requirements.

Set a business name

Once the investors have decided on the business nature, it is time to choose a name for it for Dubai freezone license. It’s always recommended to adhere to the government’s naming conventions while choosing trade name.

Obtaining business license

If you want to start a business in the Dubai free zone, it’s important to have a Dubai Free zone business license. A license is permission granted by the government to conduct your business in the country. It is necessary to carry out various activities for your business throughout the Emirates. Apply for a business license after submitting the required paperwork, paying the license fee, and receiving the initial approval. The concerned free zone authority will issue the business license.

Office setups

The best thing about freezone license in Dubai is that you don’t need to have a physical office setup. You can simply operate virtually from your home country. You just need to get an office address (lease agreement) and you are good to go.

Final approvals

Authority will issue Dubai free zone license but before that investors must obtain all necessary approvals. The investor can begin the business after getting all the necessary approvals.

Frequently Asked Questions

01

How can I get Freezone license in Dubai?

The UAE’s Free Trade Zones are each governed by their own Free Zone Authority. They approve employee visa applications, and provide guidelines for fair business operations, among other things.

03

How many Freezone companies are there in Dubai?

There are around 40 Free Zones operating in the UAE, with more under construction. Each Free Zone is designed around one or more commercial categories and only offers licences to companies within those categories.

05

Can a Freezone company own property in Dubai?

All free zone companies in Dubai are permitted to own property in the so-called Designated Areas. The free zones in Dubai include DMCC, Dubai Internet City, Dubai HealthCare City, Dubai South and many more. Free zone companies, which are formed in other Emirates, are not allowed to hold property in Dubai.

07

How can I start a free zone business in Dubai?

These are the steps to follow while setting up a free zone business in Dubai:
1. Choose the type of company.
2. Set a business name.
3. Get a business license.
4. Set up an office, possible virtually from your home country.
5. Obtain the required approvals from the concerned authorities.

02

What is the best free zone in Dubai?

There is no such thing as the "best freezone". The best freezone depends on your business needs. Radiantbiz experts help you figure out the best options according to your requirements to help your business flourish.

04

Can Freezone companies do business in the mainland zone?

Yes, a free zone company can do business in the mainland, by registering their branch with the Ministry of Economy and the DED. But the branch must engage in the same type of business as the parent company and must have the same name as the parent company.

06

What is the cost of a freezone license in Dubai?

When you are thinking about establishing a free zone company in Dubai, the first step is to know all about the price and how much it would cost you to do so.   Fortunately, it is quite simple to get an estimate before setting up your business in Dubai. You can now get an idea of your investment with the help of our reliable cost calculator that gives you an entire estimate of the cost needed to setup your business here

08

Which is the cheapest free zone in the UAE?

Below is the list of top 5 cheapest free zones in the UAE:
* Sharjah Research Technology and Innovation Park (SRTIP)
* Ajman Media City (AMC)
* Sharjah Media City free zone (SHAMS)
* Ras Al Khaimah free zone(RAKEZ)
* International Free Zone Authority (IFZA)
* Meydan Free Zone

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