If you want to start a business in the Dubai free zone then first you have to decide what business you are going to start. Whether it is freelancing or setting up your own company and employing others. Freelancing can be a cheaper option though not all of Dubai’s free zones issue freelance permits so there is a slight restriction in your choices in the free zone there are ample choices with both sectors.
The first and foremost reason to establish a business in Dubai is the country's rapid economic growth.
Key steps to start a business
If you are thinking of opening your company in a free zone then here are the tips on how to get started:
1.Choosing the Business Activity: The first step in getting a free zone is deciding the type of business you are going to carry out. It also depends on the type of license you applied for, according to that you will get the activities you want to carry out like- professional services, commercial and trading, etc. Dubai has some particular requirements according to the kind of license you have and the activities you wish to carry out. So it is advisable to work with a company formation specialist for an easy and smooth start.
2.Finding a Free Zone: Once it is decided which business activity is suitable for you the next step is determining which free zone is right for you. Actually, there are several factors you may consider before making this decision. Starting with whether you wish to set up in a sector-specific free zone. Healthcare, ICT, production, design, outsourcing, media, maritime, science, and finance are some of the industries catered to by Dubai’s industry-specific free zones. Alternatively, there are also many broader free zone options available. For example, free zones such as Dubai South and DMCC are open to a wide range of activities. You have to consider the location whether it is nearby to the airport and the main highways so that international trade can take place easily.
3.Choosing a Company name: Now the most difficult part is choosing the name of the company. While choosing your UAE company name there are certain things that should be kept in mind- the first thing is to make sure your business name is available to be registered. The name should not contain blasphemous language or anything related to religious or political organizations. If you decide to keep the name of the company in the name of any person then it has to be a partner and shareholder in your business, only full name is allowed rather than initials or abbreviations.
4.Make your license Application: Now that it is decided the company name, what business you are going to do, where you are going to set up, it's time to make Dubai free zone company formation official by submitting your application. The exact documents required for UAE free zone company formation will depend on the type of license you are applying for and which free zone you have selected. As a general rule of thumb, you can expect to be asked for some or all of the following:
Color copy of the shareholder(s) passport and visa if applicable
- Application form.
- Business plan.
- Board resolution.
- Memorandum and articles of association.
Applying for Visa in Dubai, UAE
Now you can apply for a visa at this stage. You can apply for your own visa as well as for your staff and employees. Whether you are applying for your own visa or sponsoring someone else’s, the process is the same: entry permit, status adjustment, medical fitness test, then Emirates ID registration and visa stamping. Once again a company formation specialist can guide you in this matter.
Opening a bank account
In order to run a business a bank accountin UAE is mandatory Opening a corporate bank account is not always easy and there are several considerations to keep in mind – not least each bank’s eligibility criteria.
Documents Required to start a Business
First, you need to make sure you have the correct documentation in place. As well as your business license, you’re likely to need:
A corporate account opening form.
A board of directors’ resolution sanctioning the opening of the account, and the signatories to the account.
A copy of your company’s certificate of incorporation.
A copy of your share certificates.
A copy of the company’s memorandum and articles of association.
Copies of passports for all partners in the company.
Benefits for Starting a business in Dubai Free zone
Full Foreign Ownership.
No Currency Restrictions.
Import/Export Exemption.
Full Repatriation of Capital and Profits.
Easy Labor Recruitment.
Hassle-Free Company Incorporation.
Easy Immigration Process.
Step by Step procedure to Set Up a business in Free zone Dubai
Company Formation
Immigration sponsorship
Labor Compliance Services
Documents Clearing
Legal Paperwork
Dubai Free Zone Company Formation Made Easy
Danburite Corporate is that helping hand, ready to walk you through the entire setup process and beyond. We have licensed business setup consultants in UAE, registered under the Department of Economic Development. We are channel partners of free zones and offshore jurisdictions, as well as banks and government authorities. Over the years, we have grown exponentially, acquiring global execution capabilities, client loyalty, and referral business. Together with a terrific track record, we are the preferred partner for company formation and management.
Danburite Corporate is here to delight you with quality services, dedicated support, and competitive pricing. We are a team of time-served and reliable Dubai business setup consultants, eager to pull off any assignment across any jurisdiction in the UAE. Our knowledge about the UAE business landscape and procedural compliance helps us deliver a full continuum of UAE company formation services. Whether it’s setting up a Commercial Company, Free Zone Company, or an Industrial Company, we provide end-to-end solutions tailored to your needs.
And that’s it. It is really that simple. It just takes six steps to get your Dubai free zone business set up. But provided you go in with your eyes open and seek out the right guidance and advice, in most cases, you’ll have your business set up in just a matter of weeks.
Read More: Also take a look at the ultimate guide to starting a limited liability company
