The Free zones of the UAE are lucrative jurisdictions for business people who wish to get full ownership of their organizations. The conception of a free zone is set up at the international level as a standard to encourage and grow corporations in several nations. The UAE free zones are providing 100% foreign ownership, no tax, and customs privileges to the owners of the company. It makes the UAE free zones the most promising destination in the Middle East for foreign procedures. So, if you wish to start Freezone company formation in Dubai, then skilled and seasoned specialists at Start Any business UAE are here to make your function obstacle-free.
The free zone administrator is the government entity that controls the civilities of registration and granting trade licenses or permits to non-resident corporations for forming a free zone company in Dubai. Establishing a corporation in Dubai free zone gives a sea of chances for, collaboration, networking, and ample development in the organization.
Procedure Of Freezone Company Formation
Awarded to Dubai investors to establish their business anywhere in the Emirates-based on the type of business location, ownership preferences, budget, and other such factors. There are some processes and formalities to be accomplished for freezone company formation in Dubai. These require rapid planning, knowledge of local culture, government standards, and detailed decision-making through various business setup phases. There are simple steps comprised in freezone company formation:
- Select Business Activity – You need to select a business activity that you want to carry because the type of license you apply for it would depend on the nature of the activity of the business. Several free zones in Dubai permit many commercial activities, so there are multiple prospects to analyze.
- Find a Suitable Free zone –Once you have made the decision on your commercial activity, the next move you need to do is select any free zone which is appropriate for your organization. Basically, there are sector-specific zones such as IT, commerce, healthcare, trading, etc. So, research before selecting one special zone.
- Select a Trade Name – Prior to deciding on a business name, you have to make sure that the name of your business is following the rules of the free zone official. There are also a few norms that the name has to comply with, comprising evading any objective language or words and regards to political entities or religions.
- Collect Documents and Apply for a Business License – After selecting the commercial activity and business name registration, the next very important move is to make an application for a business license. The type of license is based on the activity of the business. In order to apply, you require to fill the application form first, and prepare the necessary paperwork, as specified in the form. In addition, you can make a visa application throughout this process.
- Corporate Bank Account Opening – For the formation of your free zone corporation, you have to open a company bank account. Open a bank account is an easy procedure. However, you should have collected the paperwork again along with your trade license and given it to the desired financial entity.
Document Required For Freezone Company Formation
The necessary documents required for freezone company formation are given below:
- Color copy of shareholders’ passport
- Copies of the visa of the shareholders
- Business plan
- Board resolution
- Memorandum of Association
- Article of Association
- The certificate of incorporation for your enterprise
- A copy of the share certificate
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Benefit Of Freezone Company Formation
Free zones are very advantageous destinations for the establishment of a corporate equipped with cutting-edge infrastructure, exemptions on tax and duty, world-class commercial facilities, adaptable government procedures, and unmatched skills. These aren’t only the elements that move the formation of a free zone corporation; there are several other advantages for setting up a free zone organization, such as :
- 100% ownership for business people, no matter what is nationality and original country.
- 100% tax exemption on corporate and personal income or gains
- Profits and capital are repatriated in full
- Duty-free imports and exports
- Facilities of convenient offices and warehouse
- Possibility for forming a corporation by a person
- Corporate tax exemption for 15 years, extendable for the next 15 years.
- Full confidentiality of procedures
- Adaptable to involve in foreign business
- Low cost of the renewal
- Flexibilities to own properties, take a part in several activities, bank account opening in the emirate of Dubai.
- Liquidation choice at any time
- Assistance with accommodation features, employees’ visas, and other approval services.
How We Can Help You
Start Any Business UAE is the name that offers a holistic approach to excellence, commitment, and professional business consultants. As in chief corporate services form that operates under the trademark of Start Any Business UAE, we facilitate to all sizes of established entrepreneurs and businesses, expansion and conversion of their business in the UAE.
If you are looking for freezone company formation in Dubai, then Start Any Business UAE will help you with strategic consultation. We make your process easy and reliable without any hassle.