If you want to enjoy the growing economy of UAE with 100% ownership of your business, then setting up a free zone company is the best choice for you. Most people feel insecure having a local partner as they have 51% shares of their business. But when you have a free zone company, there is no restriction to hire any local sponsor for the trade license and enjoy 100% ownership of your company. There are at least 40 free zones in UAE where you cannot only manufacture products but also import/export and reconfigured goods without paying customs duty. The location of free zones is ideal for all types of businesses as they are nearer to airports, borders, and seaports.
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In this article, we will discuss how to establish a free zone company in Dubai.
Select a free zone:
Before getting a free zone trade license, make sure to choose a free zone that suits your business. Various free zones offer different business activities to foreign investors. You need to select a free zone according to your business requirements. This way, you can grow your business effectively.
Select a corporate structure:
Choosing the right corporate structure is crucial for crucial for free zone company setup in Dubai. Therefore, it is essential to make sure that a particular free zone allows you to choose corporate structure according to their requirements. Here are some most available corporate structures in the free zone
- New business or Company.
- Subsidiary Company.
- Partnership or Joint Venture Company.
- Branch of a local company.
Prepare documents and select company name:
The next step is to choose the attractive trade name and then submit it with the application and required documents. Every free zone has different document requirements.
Get initial approval:
In this step, you will need to get initial approval of your business activity, company name, and structure.
Sign legal documents for company setup:
When you get initial approval, the free zone representative conducts a face to face or video call meeting. There you will have to sign legal documents for company formation. Legal documents may include board resolution. MOA and other required documents.
Identify business location:
The next step is to establish the business location that you have selected for your business.
Collect trade license:
When you have paid all required fees and signed legal documents, you are eligible to get your trade or business license.