When it’s time to seek options for setting up your business in Dubai, you have a large selection, based on your budget, preference, company type and many other factors.
There are over 25 fully operational free zones in Dubai and the neighboring emirates. Please note: All free zones require you to have share capital arrangements before applying for a license.
The UAE has seven emirates, out of which Abu Dhabi is the largest emirate and also the country’s capital. While Abu Dhabi has oil riches and sovereign wealth, it’s Dubai that has gained a reputation for its trading ports and free zones.
There are some similar formalities to be completed with regards to the documents which are submitted to each free zone depending upon the type of business an investor chooses. In general, the following are the main options:
All of the above types may not be available to every free zone, therefore an investor should seek the advice of a consultant to finally arrive at whether his choice is possible in the concerned free zone and also to know about the details of documents needed. However for the advantage of the investors, descriptions of documents commonly needed are being listed below:
FREE ZONE ESTABLISHMENT (FZE)
1) Application form duly filled
2) Business profile of the owner
3) Passport copy of the owner
4) Original bankers reference
FREE ZONE COMPANY (FZC)
1) Business profile of individuals
2) Passport copy of owners
3) Original bankers reference
4) Board Resolution
5) Manager’s valid passport copy
6) Specimen signature of the manager
7) Original FZCO application
1) Certificate of Registration
2) Memorandum and Articles of Association
3) Board Resolution
4) Manager’s passport copy and his attested signature
5) Parent company‘s profile
Note: Application for license, Passport copy & Bank reference of each individual, Project summary and Application for registration are common for any business set-up.
Dubai Free Zone Benefits:
UAE Free Zones are fully equipped and ready for business with all the amenities, communicational infrastructure and facilities made available for investors. The large number of free zones operating in Dubai and throughout the UAE allows investors to pick and choose the most beneficial form of setup.
Since no local sponsorship or staff recruitment essentials are imposed in free zones, the investor has the complete ownership of the business. Imported raw materials and equipment are exempt from customs duty and exports are free of any levies in free zones.