Dubai has established itself as a prominent destination for businesses of all sizes, from established corporations to ambitious startups. The government has made fair access to entrepreneurs a priority, and has simplified the process of establishing a business in a Dubai-free zone through a favorable legal framework and a variety of support measures. As a result, it is now easier to start a business in Dubai. In this blog, we will discuss certain aspects related to free zone business setup in Dubai.
Procedure to be followed to set up a business in Dubai
The entire process of business setup in Dubai has been made quite simple and uncomplicated. Here is a list of procedures that need to be followed:
- Type of company: Prior to opting for a business set up in Dubai’s free zone, one must determine the kind of enterprise that will be launched as well as the free zone in which the investor plans to do so. This is because various free zones possess different standards that must be met.
- Trade name: After investors have selected what kind of business to launch in the Dubai Free Zone, it is time to choose a name for that business. However, one must keep in mind that when choosing a name, one must adhere to the naming guidelines established by the government.
- Business license: The investor must apply for a business license once a name has been chosen and registered with the appropriate government. In various Free zones, numerous permissions are offered for diverse activities.
- Office space: After obtaining the license to launch a business in the Dubai Free Zone, it is time to search for an office building. The space is available for purchase or for rent.
- License and Approvals: Before a license can be awarded, the investors must obtain all necessary permits from the relevant authorities. The investor can launch the firm as soon as all necessary approvals have been obtained. The entire procedure is fairly easy and just needs two to four weeks.
The entire procedure has been outlined in clearer terms and will be finished in no more than 4 weeks, allowing the investor to begin the development of a free zone firm in Dubai.
Documents Needed for business set up in Dubai
The following documents are required to be submitted and approved by the Arab embassy or the Gulf Cooperation Council:
- Application form for a license
- Company card
- Cost of the business strategy
- Passport copies
If necessary, include a banking reference and the license for the partners’ current business. When setting up a business Dubai-free zone, an investor must follow the above-discussed approach.
Establishing a free zone firm in Dubai has various advantages, such as 100% foreign ownership, the absence of corporate or personal income taxes, and simplified business registration procedures. It’s crucial to investigate the various free zones and pick the one that is appropriate for your company. Business set up in Dubai can be simple with the right planning and preparation.