EVERYTHING ABOUT SETTING UP A BUSINESS IN DUBAI FREEZONE

Being a part of the Middle East and also known to be the global city, Dubai is a major business hub for both locals and foreigners. Providing wholehearted support for all business-related issues is what makes it more trustable and approachable. Free zones are set up in Dubai to attract foreign investors and thus empower the society.

To get a business license for non-resident companies in Dubai free zones, it is mandatory to approach the Free Zone Authority in Dubai. The free zone is the perfect place to expand your business. The free zone authorities provide many incentives that make the business set up in Dubai free zones most preferable. The benefits the free zone area offers are of great prominence like tax exemptions, World-class facilities, and flexible government policies.

Advantages of a Dubai offshore company are:-

• Easy to set up a business
• No registering of shareholders and directors for public records
• It is exempt from tax obligations and all annual accounting
• Being bilingual, they are easily recognized by banks, governments, and suppliers.

In the Dubai free zone, the types of licenses available are:-

• Trading license
Trading activities like buying, import and export can be done.
• Service license
Consulting and accounting can be done if you acquire this license.
• Industrial license
Manufacturing, processing and packaging of a company are done using this license.

To set up a business in Dubai Free zone one must:-

• Select a business activity

Depending upon the nature of your business activity, your type of license is decided. So make sure your primary decisions are up to the mark.

• Find a free zone

After deciding on your business activity you should select a free zone apt for you, which can include professions like commerce, trading, IT, healthcare, etc.

• Pick a company name

You should register your name on the free zone authority portal. It should not include any reference to religious or political organizations.

• Applying for a license

After completing these steps, the next crucial step is to apply for a license (fill the application form and assemble your documents) that will depend on your business activity. In between, you can make an application for a visa.

• Opening a corporate bank account

With your assembled documents and license, you can open a bank account and provide it to the chosen financial institution.
You will receive your valid license within 2-4 weeks. After which you are all set for a new beginning.