Key Steps to Free Zone Business Setup

The ‘Free Trading Zone’ in Dubai is the most lucrative area and thus has emerged into a popular commercial hub.

AaqilFaraj
Created by AaqilFaraj
On Dec 11, 2019
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Steps for Setting Up Your Business in Free Zone

The ‘Free Trading Zone’ in Dubai is the most lucrative area and thus has emerged into a popular commercial hub. It offers a whole lot of benefits to the investors such as tax exemption, 100% ownership, exemption from the export and the import duties, no restriction on the currency, lowered cost of the operations etc. Thus the ‘Free Zone’ proves to be ideal for the start-ups. Apart from the cost benefits, the startups can enjoy from the infrastructural benefits it offers.

Free Zone Areas

Determine the Kind of Legal Entity for Setting Up Your Business in the Free Zone

The Free Zone Setup is a relatively easy affair. The ‘free zone’ authorities need minimum duration and paperwork. In order to begin your business in the free zone, you must determine the right kind of legal entity necessary to begin your business. It is possible to set up any of the two kinds of companies in the ‘free zone’ such as the ‘Free Zone Limited Liability Company (FZ LLC) ‘or the ‘Free Zone Establishment (FZE)’.

Choose the Trade Name of your Business

While deciding on the kind of legal entity your company should take, it is necessary for you to choose the right ‘trade name’. Before choosing the name you must check with either the respective ‘free zone’ authority or ‘Department of the Economic Development’ about all the trade names that are permitted and whether your intended ‘trade name’ has been registered. In order to get the approval of your proposed trade name by DED, it must not violate any public morals, should be in accordance with the needed legal status etc.

Choose the Trade Name

Application of the Trading License for Your Business

The kind of business license you would apply for is based a lot on the key activities of the business. You could begin any business in the ‘free zone’ such as animation, advertising, content production, film production, graphic design, gaming development etc. In such cases, you can apply for the dissemination license.

Choose the Space for Your Office

You could either lease the office spaces or buy in the ‘free zone’. The office needs are based on ‘number of the employees’ and the kind of business carried out by your company. For Free Zone Company Setup in the Hamriya Free Zone area, you could choose from more than 100 ‘executive office suits’ that range from 15 sq. meter to about 42 sq. meter with the internet and conference facilities.

Office Spaces

Get the Pre-Approval, Register Your Company and Obtain Your Licence

Companies that are established in the ‘free trade zone’ area have to go by the respective ‘free zone’ area rules. For obtaining the required approval you require to apply the needed documents. The type of the documents varies on the kind of business activity and free zone authority requirements. After the initial approval, you are required to pay the licence fees and the registration fees. You can hire professional help such as the services of the Company Setup Dubai consultants for helping you set up your office in Dubai’s ‘Free Zone’ area.

These are the various steps to follow to set up your office in Dubai’s Free Zone Area. It is a good idea to hire the services of Company Setup Dubai consultants to sail through the process of setting up your company in Dubai.

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