adminHow To Start A Business In UAE Free Zone is all about the steps to follow to start a new business. you can also open a branch of foreign company easily in UAE Free Zone. Finally check out the quick and easy steps.
Easy Steps How To Start A Business In UAE Free Zone
1. Legal Entity
- You have 2 options:
- Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co.)
- Free Zone Establishment (FZE)
- You can set up branches
- There is a minimum capital requirement for each type of free zone as follows:
1. twofour54 Abu Dhabi- None
2. KIZAD- AED 150,000
3. Dubai Airport Free Zone- AED 1000
4. DMCC- AED 50,000/company and 10,000/ shareholder.
5. General Trading License- AED 1 Million
6. Hamriya Free Zone- AED 150,000
2. Trade Name
- The trade name must not have ‘Abu Dhabi’ and/or ‘United Arab Emirates’ in the name of the FZ-LLC or the branch company.
- Name must not violate public morals or orders of UAE
- It must follow legal company format
- The name must not be already registered
- It must be compatible with your activity and legal status
- No religion names, governing authority names or logos must be used
3. Business License
- There are more than 600 business activities available from over 20 sectors.
- Types of licenses:
Commercial/trade, Consultancy/services, Industrial, Educational, Media, eCommerce, Offshore, Freelancer, Warehousing and Manufacturing. - You can also start a finance business and single family offices.
4. Office Space
- You can take an office space for lease or buy a space in free zone.
- Office space depends on the number of employees and type of business.
5. Pre Approvals, Registration and license
For Initial approval
- Application form
- Business plan
- Existing registration certificate or trade license
- Passport copies
- Specimen signature
- Financial report of 2 years
- NOC from sponsor
- Unit title deed
- Letter of Intent
- Registry Identification Code Form (RIC)
For Registration
- Application form
- Board Resolution
- Power of Attorney
- Memorandum and Article of Association
- Specimen signature
- Passport size photo
- Share Capital details
For License and Visa
- Authority will prepare Lease Agreement
- Trade License will process followed by Visa.
10 Do’s For New Business Startup UAE
- Select a local sponsor (UAE national)
- Select a Free Zone (if you wish to own your business 100%)
- Select a Location (with optimizing suitability, convenience, and costs)
- Confirm your Visa (eligibility and requirement)
- Hire a registration agent (he will take you through the process of business startup)
- Take a proper look of the available office space and preconditions before registering in a free zone
- Make firm plans with multiple source of information.
- Choose a license category carefully and check if it allows your business model.
- Confirm the bank charges before opening an account
- Make a written legal agreement with the local sponsor.