Setting up a business in a free zone in Dubai involves lesser paperwork and time. Thus, entrepreneurs find it attractive to start their business in the free zones of Dubai. Freezone company registration in Dubai is more or less similar to that of the mainland company registration in Dubai. Still, we have explained the Freezone company registration in a step by step way.
Steps Involved in Freezone Company Registration in Dubai:
You will need to go by the following steps of registration.
Step 1: Determine the Type of Legal Entity
Freezone companies are generally classified into:
Free Zone Limited Liability Company (FZ LLC)
Free Zone Company (FZ Co.)
Free Zone Establishment (FZE)
Now choose a legal entity depending above the type of legal entity you want to set up. Note, that the selection of a legal entity depends upon the number of shareholders of your company.
Before choosing a particular entity, you shall be aware of which type of company you can start in each free zone. If you are a foreign company that has a business in Dubai, then you can set up branches in one or more free zone.
Step 2: Capital Structure
You don’t require a minimum capital for starting a business in free zones of Dubai. So, you can start your business with whatever savings you have.
Step 4: Apply for a Business License
After choosing a trading name, apply for a license that is necessary for your business activity.
Step 5: Choose an Office Space
Now analyze all the important factors like transportation, available or raw materials, etc for choosing an office space for your business. Ensure that it will be able to accommodate the number of employees in your business.
Step 6: Obtain Initial Approval
Submit the application form enclosed with your business plan to the Registrar of Companies. If you have an existing business, then attach a copy of its trade license with the application form. Moreover, submit a copy of the Letter of Intent and Registry Identification Code form along with the resumes, colored size photographs, and signatures of the shareholders.
Step 7: Registration
After obtaining approval from the required authority, pay both registration and license fees.
Step 8: Licensing and Visa Process
The authority will issue a lease agreement and trade license for your business. Then, you can start the visa processing.
It is all about how to accomplish Freezone company registration in Dubai.