It is quite easier to start a business set up any of the free zones in the UAE. The authorities of free zones require very little paperwork and the complexities are very less as well. The duration, documentation, and all other computations are comparatively easier than that of the mainland business.
To start a business set up in the UAE free zone, follow these simple steps right now;
- Legal entity determination
- Trade name
- Business license
- Office space
- Pre-approvals
Legal entity determination
First of all, you need to determine the legal entity of the business you want to do business in. there are a total of 2 types of companies that you can choose in a free zone which are as follows;
- Free Zone Company (FZ Co.)
- Free Zone Establishment (FZE)
The main difference between both of them exists in the number of shareholders they both allow. Not all free zones allow both types of company registrations. That is why you need to be clear about the type of legal entity your free zone allows.
Here are some of the free zones and their authorities;
Dubai Multi Commodities Centre (DMCC)
Dubai Multi Commodities Centre (DMCC) allows limited liability company formation. It can have a single
or multiple shareholders. also, in this free zone, the subsidiary can be owned by both local or foreign companies. Such companies can form branches of their companies in free zones. There is no such capital requirement for these companies.
KIZAD
A free zone LLC company can be formed here with a minimum shareholder of AED 150,000.
DAFZA
Company formation in DAFZA can be carried out with such a minimum share capital of AED 1000
if you want to set up a business in Dubai airport free zone you can click here.
Trade name
After you are done with choosing the legal entity of your business, choose a trade name for it as well.
JAFZA
Register offshore company in JAFZA with to help of expert business setup consultants in UAE that first
You should first check whether or not the free zone permits the trade name you have chosen for your company or if registered by any other company possesses the same name.
Here are some of the key requirements for you regarding choosing the trade name;
It must not harm or violate the public norms
It must not be registered previously
It must be compatible with the status and the type of company
It must not have the names of any religion or authority in it.
Business license
Depending upon the primary activity of your company, you will apply for the license.
Office space
You must choose an office space for your business functions. For this purpose, you should choose the best place where you can provide your services to the public.
Pre-approvals
For the company set up in UAE, you need to take approvals from the concerned authorities so that you may get a license for your company. After that, you can easily set your company here and run your functions. It is as exciting as ever.
Company formation in UAE free zones is as easier as I say it. no time taking processes, no extra payments and you get to set up your company or its branch easily.
Featured image source: Freepik
