If you want to start a business in the Dubai Free Zone, the first step is to decide which Business Setup in the UAE, either as a freelancer or start your own business and hire others. It can be a cheaper option, although not all Free Zones in Dubai issue self-employed permits, so there is a slight limitation on your options in the Free Zone as there are numerous options in both sectors.
Important Steps in Starting a Business
If you are thinking of starting your business in a Free Zone, here are the tips to get you started:
Choosing the Commercial Activity
The first step in getting a Free Zone is deciding what type of business you are going to do will perform. It also depends on the type of license you are applying for, after which you will get the activities you want to do, such as B. Professional, commercial and commercial services, etc. Dubai has specific requirements depending on the type of license you have and the activities you want to do or perform therefore, for a smooth and Business Setup in the UAE; it is advisable to work with a business start-up specialist.
Finding a free zone
Once you have decided on the right deal, the next step is to determine which free zone is right for you. There are several factors that you can consider before making this decision, starting with whether you want to settle in an industry-specific free zone, health, ICT, manufacturing, design, outsourcing, media, shipping, science, and finance are some of the industries served, Of Dubai’s industry-specific free zones. Alternatively, there are also many other free zone options available. For example, free zones like Dubai South and DMCC are open for a variety of activities. You should consider the location if you are close to the airport and major roads for international trade to take place easily.
Choosing a company name
The hardest part now is choosing a company name. There are a few things to keep in mind when choosing your company name in the United Arab Emirates: First, make sure your company name is available for registration; the name should not contain profanity or anything related to religious or political organizations. If you choose to use the company’s name on someone else’s behalf, you must be a partner and a shareholder in your company. Only the full name is allowed and no initials or abbreviations.
Submit your license application
After the company name has been determined, which companies are you going to do and where are you going to start? The exact documents required to set up a business in the Dubai Free Zone will depend on the type of license you are applying for and the Free Zone you have chosen. Expect to be asked for some or all of the following questions:
- Color copy of passport and shareholder visa, if applicable
- Application form
- Business plan
- Board resolution
- Memorandum and articles of association
- Visa application
You can now apply for a visa at this stage. You can apply for your own visa as well as for your employees and co-workers. If you apply for your own visa or if you want to support another visa, the process is the same: entry permit, status adjustment, medical proof of suitability, then registration of the Emirates ID and visa stamp. Here, too, a business start-up specialist can help you. Bank account
A bank account is required to run a business. Opening a corporate bank account in the United Arab Emirates is not always easy and there are several considerations to consider, including the eligibility criteria of each bank.
Documents Required Starting a Business
First of all, you need to make sure that you have the correct documents. In addition to your business license, you will likely need:
- A form to open a company account
- A resolution from the board of directors approving the opening of the account and the signatories of the account
- A copy of your company’s deed of incorporation
- A copy of the share deeds
- A copy of the articles of association and articles of association of the Society
- Copies of the passports of all members of the society