Business is booming in Dubai and many entrepreneurs earn significant profits in the free zone. The top reasons for Dubai’s free zone popularity include tax benefits, 100% repatriation of capital and profits, 100% company ownership, and more. If you have decided to start up a business in Dubai free zone, here’s what you need to make it happen.
Select a business activity
The first step in starting up your Dubai free zone company is choosing the business activities you intend to do. Deciding on the business activities helps you identify where you can register your company and the type of license you will apply for.
Find the right free zone.
Once you decide on the kind of business you wish to establish, determine which free zone fits your company’s needs. There are many great free zones in Dubai to choose from. Check the list and decide where you want to run your business.
Choose your business name
Choosing a company name is not always easy, as there are dozens of factors to consider.
- Make sure your company name is available for registration
- Do not use blasphemous language
- Avoid referencing religious or political organizations
- If you name your business after a person, they must be a partner and shareholder in the company
- Individual names must be complete and not initials or abbreviations
Apply for a trade license
The next step is making your business formation in Dubai official by submitting your application. The kind of documents needed for your business setup in Dubai depends on the free zone you choose and the type of business license. Below are some of the documents required:
- Application form
- Business plan
- Color copy of shareholder’s passport and visa if applicable
- Address proof of shareholders and Directors
- Contact details of applicants
- 3 proposed names of the company
- Details of business activity
You can start applying for your visa at this stage; it could be your own UAE residency visa or those of your employees. Our company formation consultant can help you with this process.
Open your corporate bank account
Finally, open a corporate bank account. Ensure you obtain a bank account separate from your personal account for your business operations. Opening a bank account in Dubai is sometimes hard as there are several considerations. Be sure to check with the specific bank for eligibility criteria.
For all your business setup in Dubai needs, FreeZoneMarket.ae team is ready to help.
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