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How to Successfully Set Up Business in Free Zones

by Business-Setup.ae

Posted on 29-April-2019

Before you should start with you have to stay aware with key rules and regulations of various free zone authorities. Accordingly, you have to follow the mentioned steps-

Decision on Your Entity Type

Type of entity is the initial step associated with setting up your company in UAE’s free zone. Accordingly, you may opt to start with either of the mentioned two different types of firms, which include-

  • Free Zone Company i.e. FZ Co
  • Free Zone Establishment i.e. FZE

Exact numbers of shareholders may vary among companies. However, in most of the cases, FZE requires minimum one shareholder, while FZ Co mandates the involvement of at least two shareholders.

Selection of a Trade Name

Selection of a specific trade name is the next step associated with setting up your own business in the UAE’s free zone. Once you choose a trade name, you have to register it with the respective free zone authority.

Selection of Business Activity

Now, you have to choose for a particular type of business activity from available thousands of business activities prevailing in the free zone. Activities in this case may range from about hundred sectors. These include shipping of gold, diamond and other commodities, energy, aviation, personal services, financial services, professional services and community services. In addition, you may opt for anyone among technology, FMCG, constructions, education, media and many more.

Submission of Documents to get Permission

Irrespective of the type of business you want to perform in free zone at UAE, you have to follow the necessary rules and regulations prevailing in the free zone. To get approvals, you have to fill and submit the necessary documents. List of documents in this case differs among business activities and types of companies, along with specific requirements of free zone authority.

Selection of an Office Space

Entrepreneurs should essentially know the cost involved in setting up a company in the free zone of Dubai before buying or leasing out a business space there. For this, you may choose an office space in accordance to the type of business you want to do and exact numbers of works. In case you possess limited budget, you may go with the cheapest possible free zone in the city.

Get License

In the last step, you have to receive approval by making payment of the license fees and the registration amount. If you possess knowledge related to cost associated with business setup in Dubai, you will definitely avoid any unwanted hassle. Hence, with simple steps, you will easily setup your business in UAE’s free zone of your own choice.