It is quite easier to start a business set up I any of the free zones in UAE. The authorities of free zones require very less paperwork and the complexities are very less as well. The duration, documentation and all other computations are comparatively easier than that of the mainland business.
To Start your business in UAE free zone, follow these simple steps right now;
- Legal entity determination
- Trade name
- Business license
- Office space
Legal entity determination
First of all, you need to determine the legal entity of the business you want to do business in. there are a total of 2 types of companies that you can choose in a free zone which are as follows;
- Free Zone Company (FZ Co.)
- Free Zone Establishment (FZE)
The main difference between both of them exists in the number of shareholders they both allow. Not all free zones allow both types of company registrations. That is why you need to be clear about the type of legal entity your free zone allows.
Here are some of the free zones and their authorities;
Dubai Multi Commodities Centre (DMCC)
Dubai Multi Commodities Centre (DMCC) allows limited liability company formation. It can have a single or multiple shareholders. also, in this free zone, the subsidiary can be owned by both local or foreign companies. Such companies can form branches of their companies in free zones. There is no such capital requirement for these companies.
A free zone LLC company can be formed here with a minimum shareholder of AED 150,000.
Setting up a business in DAFZA in can be carried out such a minimum share capital of AED 1000
After you are done with choosing the legal entity of your business, choose a trade name for it as well.
You should first check whether or not the free zone permits the trade name you have chosen for your company or if registered by any other company possesses the same name.
Here are some of the key requirements for you regarding choosing the trade name;
It must not harm or violate the public norms
It must not be registered previously
It must be compatible with the status and the type of company
It must not have the names of any religion or authority in it.
Depending upon the primary activity of your company, you will apply for the license.
You must choose an office space for your business functions. For this purpose, you should choose the best place where you can provide your services to the public.
For the company set up in UAE, you need to take approvals from the concerned authorities so that you may get a license for your company. After that, you can easily set your company here and run your functions. It is as exciting as ever.
Company formation in UAE free zones is as easier as I say it. no time taking processes, no extra payments and you get to set up your company or its branch easily