Business Setup In Dubai Freezone
Freezone Company Formation Dubai UAE
Freezones are geographically demarcated areas within the United Arab Emirates (not necessarily fenced or gated). They authorise 100% foreign ownership and are mostly defined for a specific industry. Also known as free trade zones, these are primarily economic areas where goods and services are traded. The purpose of free zones was to boost international business in the region by offering several investment benefits. The most attractive one is 100% foreign company ownership.
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Dubai Free Zone Areas
There are more than 30 Free Zones operating in Dubai, which include the following:-
- Dubai Silicon Oasis
- Dubai Airport Free Zone
- Dubai Design District
- Dubai Healthcare City
- Dubai International Academic City
- Dubai Internet City
- Dubai International Financial Centre
- Dubai Knowledge Village
- Dubai Media City
- Dubai Gold and Diamond Park
- Dubai Multi Commodities Centre (DMCC)
- International Media Production Zone
- Jebel Ali Free Zone
- Dubai Production City
- Dubai World Central (Dubai South)
- Dubai Studio City
- Dubai World Trade Centre Free Zone
- Dubai CommerCity
Types of Licenses for Dubai Free Zone?
The following licenses are offered by free zone authorities for Dubai freezone business setup:-
Trading licenses allow companies to operate in trading activities like buying, import & export, and selling of a limited number of commodities.
GENERAL TRADING ACTIVITIES
After obtaining a general trading licence one can engage in trading of all types of goods, with an exemption on a few banned products. You will need special approval with this license to engage in banned products.
To deal with activities like consulting, accountancy, etc. services license need to be acquired.
To carry out manufacturing, packaging and processing activities, companies need to obtain this license.
Necessary Documents to Apply for a Business Setup in Freezone
To Obtain a Business License
- Coloured copy of shareholder(s)’ passport and visa, if applicable
- Application Form
- Business Plan
- Board Resolution
- Memorandum and Articles of Association (MAA)
To Open a Bank Account
- 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 certiﬁcate
- A copy of the company’s Memorandum and Articles of Association (MAA)
- Copies of passports for all partners in the company
Process of Company Registration in Freezones
- Determine the type of legal entity
- Choose a trading name
- Apply for a business license
- Find an office space
- Get pre-approval from authorities
- Register your business
- Obtain your license
Advantages and Disadvantages of Free Trade Zones in Dubai
Advantages of Business Setup in UAE Free Zones
Discover the many advantages of joining our Freezone
- 100% foreign ownership
- 100% business ownership, repatriation of profits and capital
- 100% exemption from corporate, personal and income taxes
- Exemption from export and import duties
- The timely and smooth immigration process
- Thriving business atmosphere
- Strategic location
- One energetic business
- Flexible solutions
- One-stop-place for various solutions
- Online portal for all services
Disadvantages of Free Zones Dubai
Business Activities in Free Zones in Dubai (UAE)
Activities you can engage in include web streaming, radio broadcasting, and TV broadcasting. You will need approvals from all concerned authorities and only certain packages encourage this activity.
Consultancy services include a wide array of consulting activities that cover business consultancy, financial consultant, investment consultancy, legal consultancy, lifestyle consultancy, human resource consultancy and more.
Education and Training
The education and training category comprises many activities, but the activities are available under packages with visa eligibility.
Event management consists of many activities, from organising events, fairs, trade shows, exhibitions, business conferences to theater productions and more.
Film, Production and Post-Production
The activities covered in this category are licensed film, art, and video production, and also post-production.
Industrial licences cover manufacturing, fabrication, and processing of raw materials for the productions of finished goods or final products. Industrial activities mostly co-occur with warehousing requirements.
IT services include the information and communications technology sector services, including B2B, B2C, e-commerce.
Media and Marketing Services
The media and marketing category consists of a host of activities that include - advertising, public relations, promotions, research, and more.
Music and Entertainment
Music production and recording, music promotion and management, music rights and theme parks management are covered in music and entertainment services.
New media comprises photography, videography, web design, extensive digital media services that also include the creation and management of mobile phone applications.
Publishing of education and consumer books, magazines, directories and guides, online and electronic content, and many more are included in this. However, you will need approval from authorities for what you plan to publish.
All import or export-related transactions can be done under this.