UAE Free Trade Zones (FTZ) are determined geographical areas where UAE mainland taxes, employment and import-export restrictions on business don't apply, as well as bureaucratic requirements, are lowered what makes them the desired destination for foreign investors.
Starting a business entity in one of the UAE's Free Trade Zones can be a very attractive option for foreign investors, but choosing the right Free Zone for your business requires deep knowledge of the market.
More than 50 different Free Zones are located in the UAE, accordingly, we can recommend the right Free Zone, depending on business conditions, visa and office requirements, and, certainly, investment budget. Business Setup Experts at My Business Consulting DMCC always carefully consider all factors to recommend the best place to register your business in the UAE to enable its economic growth. Contact us today to get an insightful kind advice on company formation in UAE Free Zones.
ADVANTAGES OF BUSINESS SETUP IN UAE FREE ZONES
No corporate taxes
UAE Residence Visa
100 % foreign ownership of the enterprise
No trade barriers or quotas
Simple Import, Export Policies
No personal income taxes
100 % repatriation of capital and profits
Infrastructure and facilities for Industrial and Commercial purposes
HOW TO REGISTER A UAE FREE ZONE COMPANY
To start a business in any UAE Free Zone you need to complete three main steps: obtain your business license, get your UAE Residence Visa, open a corporate bank account. When properly planned, the whole business setup process should take from 1 to 4 weeks.
Every company operating within a UAE Free Zone is required to obtain a business license (also known as a trade license). Each business license is valid for one year, starting from the date of issue and must be renewed annually.
Some UAE Free Zones require minimum paid-up share capital to be presented at the time of the Free Zone company formation. The amount of the share capital depends on each Free Zone requirements.
To help you get ready for a company registration process we propose you to have a look at the main steps of registering a business in the best UAE Free Zone – DMCC.
1. SELECT A LICENSE TYPE AND BUSINESS ACTIVITYEach Free Zone has different rules for the number of activities that can be added in one license. However, no commercial activity can’t be mixed with service activities in one license is the general rule for all the Free Zones. Thus, anything to do with trading must be in a Trading/Commercial License and providing services or consultations must be in a Service License. If you plan to produce or manufacture anything, then you will require an Industrial License.
2. CHOOSE A FREE ZONEEach UAE Free Zone has its list of allowed activities that can be performed within the particular Free Zone; types of available facilities and visa quotas can also vary from one Free Zone to another. That’s why it is highly recommended to get a professional consultation at this stage to choose the best Free Zone for your business.
3. SELECT A CORPORATE STRUCTUREThe corporate structure can be one of the following: a New Company with individual shareholder(s), a Subsidiary Company (with a corporate shareholder(s)), a Joint Venture Company (a mix of the individual and corporate shareholders), Branch of a Local or a Foreign Company. Some business activities are allowed only for Branch Companies; therefore, you should check it with a Free Zone of your choice.
4. SELECT TRADE NAME & PREPARE DOCUMENTSList company name options (3 proposed names are required) in order of preference and prepare the list of documents required by the chosen Free Zone. For new company formation, the standard list of documents includes passport, visa, EID (if applicable), NOC for UAE Residents (for specific Free Zones), proof of residential address, professional CV. The list of documents required for Branch companies’ registration is relatively different.
5. APPLY FOR INITIAL APPROVALInitial approval usually includes approval for the company name, for the chosen business activity(ies), and the proposed company structure.
6. SIGN LEGAL DOCUMENTS FOR COMPANY INCORPORATIONOnce the initial approval is obtained, a face-to-face meeting (or a video call) with a Free Zone representative to be arranged. Sometimes it can be avoided by providing a Power of Attorney to your representative and notarized documents. During the meeting, there will be passport verification of the shareholders/or UBOs, and signing of documents such as Articles of Association (AOA), Board Resolution, Specimen Signature Form.
7. ESTABLISH BUSINESS LOCATIONTo move to the final stage of licensing, you should find a commercial property for your company located within the chosen Free Zone. Once you found a suitable option, you must sign a Tenancy Contract (for a minimum of 1 year), and obtain the Ejari Certificate. Both to be provided to the Free Zone, based on what your license will be issued with the address from your Tenancy Contract. Depending on the type of facility (flexi-desk, business center office, physical office, warehouse, retail space), there might be some additional documents required, like for example AOFC Certificate from Concordia, or Third-Party Liability Insurance.
8. COLLECT BUSINESS LICENSEOnce the registration documents are signed, all approvals are obtained, and all payments are made. The license will be issued along with other corporate documents.
At this stage the following steps are done already: obtaining initial approval, signing legal documents for company incorporation, obtaining third party approvals (if applicable), signing Lease/Tenancy Contract. Considering this, at the final stage your license will be issued along with the other standard package of corporate documents (it may be slightly different from one Free Zone to another): License, Certificate of Incorporation, Share Certificate(s), Articles of Association (AOA), Lease/Tenancy Contract.
My Business Consulting is here to assist you at each stage of business setup in any UAE Free Zone such as the development of business plans, registration of a tailor-made corporate structure, assistance in obtaining UAE residence visas, UAE corporate and private Bank Account Opening, VAT advisory, Accounting & Bookkeeping and full further administrative support.
POPULAR UAE FREE ZONES
Our Business Setup Expert ensures that your UAE Free Zone company will be successfully registered and will fully comply with UAE laws. Have a closer look at the benefits of the most popular UAE Free Zone and let us create the ideal business establishment strategy for you to multiply your investments.
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UAE FREE ZONES
Matchest Consulting Inc. (Taiwan Based Partner) We are professional consulting company in Taiwan and have cooperated with MY Business Consulting DMCC for many projects successfully. We appreciate for their patience to let us learn more with respect to UAE company types and related regulations. We will continue to cooperate the business and to bring the best services to the clients. Neqtat Al Entelaq Limited More professional than expected, especially Ms. Alaina. We would really recommend My Business Consulting DMCC to all. Aswaq Capital Limited We are very happy to do the registration of Aswaq Capital in My Business Consulting DMCC. And everybody is very helpful. Shafiq Massoud It’s obvious, that My Business Consulting DMCC is committed to professional services and I will not hesitate to recommend your company to others. Blue Atlas Investment Holding Ltd Very efficient and helpful. Excellent time management as we were on a tight schedule. Everything was prepared in time.
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