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Establishing a company in the Dubai Free Zone

١٩ مارس Establishing a company in the Dubai Free Zone

There are areas in Dubai called free zones. These areas are a geographical area where trade takes place and many large companies and institutions are established. There are goods that are remanufactured, stored, exported and sold according to their license. The free zone is distinguished by the fact that it is not subject to any customs duties, as the free zones are considered completely separate entities that are not subject to the laws prevailing in the country. Working in the free zone does not require a local sponsor. Any person can own a company 100% in the free zone. Itqan Company helps you own and establish companies from the beginning.

Establishing companies in free zones

We at Itqan Company work on establishing companies in all places in the Emirates, including the free zone, as we have been working in the field of establishing companies for many years, which has given us the experience that enables us to establish the best companies in the best locations. Our company is distinguished by providing all services at the lowest possible prices, so do not hesitate to seek help from our company, Itqan Company, which works on establishing companies and serving businessmen.

Steps to establish a company in the free zone

There are many steps that must be taken in order to be able to establish a business in the free zones in Dubai. These steps include:

  1. Determining the type of activity, as it represents the first step to obtaining a commercial license. Through the activity, the parties associated with this activity and the permitted legal forms are determined.
  2. Capital preparation Capital requirements vary from region to region.
  3. Determine the trade name, as it is the name that distinguishes the institution from others, and there are conditions and rules on the basis of which the trade name is chosen.
  4. Applying for a commercial license depends on the activity you are doing.
  5. Selecting offices and work facilities to follow up on work through.
  6. Obtaining initial approvals from the competent authorities.

How to establish a new company in the free zone:-

Now, anyone, regardless of their financial capacity or budget, can establish and found any investment project in the free zone or establish a company in Dubai. You can now establish any project or provide any investment service in the free zone due to the multiple needs of the UAE and also due to the ease of providing the requirements and methods of establishing investment projects there. However, it is necessary to know the basic steps in establishing a company in the free zone, which are as follows: 

Determine the nature of the company’s activity:

Determining the nature of the new company’s activity in the free zone is considered one of the most important procedures imposed by the UAE law on establishing companies for the year 2009 in Dubai. This is based on facilitating the procedures and then determining the parties associated with the company’s activity and the legal forms permitted within the new company.

There are approximately twenty thousand economic activities permitted in the UAE. Economic activities are classified into three main types, which are:

  • Commercial activity, private (real estate, leasing, transportation, financial brokerage, wholesale, retail, storage and communications).
  • Professional activity that is related to (agriculture, health, social work, education, and various service activities related to society, i.e. any activity that depends on physical and mental activity to practice it).
  • Industrial activity is concerned with (transformation industries such as mining, water, electricity, and quarrying), and there are also some tourism activities.

Various business activities in free zones

There are many services and activities available in the free zones that anyone can do, as there are approximately 2,100 different economic activities available, and the activities are divided into many groups, including:

Commercial, industrial, tourism and professional activities.

If you are one of those who want any activity that belongs to any of these groups, Etqan Company works to help you and conduct a feasibility study for the various activities by specialized economic experts. The company also helps you establish companies and obtain the appropriate commercial licenses for your activity. All you have to do is call the company’s number and request the specific services you want.

Advantages of establishing a company in the Dubai Free Zone: –

Dubai Free Zone is considered one of the most important free zones in Dubai that can help in establishing companies there due to its advantages, and the most important of these advantages are the following:

  • Full exemption from all taxes, whether income tax or corporate tax.
  • Allowing 100% foreign ownership.
  • Tax exemption on import and export.
  • Providing facilities and flexibility in office rental terms.
  • It offers a wide range of different business activities available.
  • The documents required to establish a new company are not many and specific.
  • No currency restrictions.
  • Providing competitive prices for establishing any company in the Dubai Free Zone.
  • Providing storage warehouses.

Establishing a company in the free zone:-

Companies wishing to establish their businesses in the free zone enjoy greater flexibility in choosing multiple commercial activities or service activities that are compatible with the nature of their work, in addition to the tax exemptions that distinguish the free zone, which are among the biggest factors attracting many new contractors, which contributes to enhancing the experience of investors when establishing or establishing companies in the free zone and conducting their business there.