Essential Things that will help you to incorporate a business in Dubai Free zone

 When it comes to Dubai and business set up, the first choice is the Free zone given the various benefits like tax free zone, 100% foreign ownership (which is now possible with the new Commercial Law) and the east of company formation in Dubai.

First and foremost – understand the type 2 types of Free zones:

-          Free Zone Limited Liability Company (FZ LLC) or Free Zone Company (FZ Co)

-          Free Zone Establishment (FZE)

And then the number of free zones. There are 30 free zones as of now.

To ensure a seamless Dubai free zone company setup, be prepared with the following:

-          The name of your business. While it might seem easy, it is quite a complex decision to make. It sets the target and course for your business. The first step is to register the name of your company via the government body or through a company formation expert.

-          Then the next important step is to understand the free zones and make a choice for your business – depending on the type of business. Some free zones only allow certain categories of businesses, so you will have to map business category with free zones and accordingly make a choice.

-          It’s crucial to have all your documentation in one place. You would need the below documents to register your company in a free zone:

1.       Copy of shareholder’s passports and visas

2.       Application form

3.       Business plan

4.       Specimen signature of the company’s shareholder/s and the appointed Manager/Director for the new company

5.       Audited financial reports of 2 years or certificate of reference from a personal bank of the individual shareholder

6.       NOC from current sponsor (for individuals)

7.       Unit title deed

8.       Letter of Intent, and more.

 The free zones have a special tax, customs and imports regime making it a lucrative for businesses. With 100% import and export tax exemptions, it’s a great option for businesses involving the movement of goods. To know more about company formation in Dubai, check out TRC Pamco, one of the best audit firms in Dubai. They have Company Formation experts and can help you ease the process.

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