The free zone is the jurisdiction or a geographical region for conducting a predefined trading activity or set of activities in the United Arab Emirates. Setting up a business in Dubai Freezone needs a license, Free zone licenses in Dubai and the United Arab Emirates, issued for the specific business activity for the company.

The licenses of Dubai Free zone get issued for the company’s business activity. New free zone regions are being constructed, so the count of free zones would increase in the upcoming years.

Free Zone Authority can be the governing body for the activities that relate to Free Zone Company for license issuance and operation. Commercial laws can govern the mainland companies of the UAE but are not applicable for Free zone companies. Foreign investors can have complete ownership while serving up a business in Dubai Free zone. Besides, complete ownership, monetary benefits such as complete tax exemptions, absence in foreign exchange restrictions, 100% repatriation benefits serve the extra benefits of Dubai free zone company formation.

Company Formation in Dubai Free Zone : If your company gets approved for Free zone business, it has the Dubai Free zone licenses like Industrial License, Trade License, National Industrial License or Service License from the Free Zone Authority. UAE’s free zone licenses are annually renewed as the lease agreement.

Select your free zone jurisdiction according to your business type. Business activity must match the category of your free zone. Though offshore companies share the benefits of Free zone companies of Dubai, they can’t be identical.

Business entities can be formed in Free zone jurisdiction. Entrepreneurs and investors rely on three different business entities for forming a company in Dubai Free zone jurisdiction. They are:

• Free Zone Company – the business entity having more than two shareholders.
• Free Zone Establishment – business entity having a single shareholder.
• Branch Office – investors form a business entity serving the branch office of parent-concern. Overseas companies or UAE can be in the parent concern.

Free Zone Company Formation Steps

• Choose your preferred business entity: The business category of Free Zone jurisdiction must be understood to select your legal entity or desired business.
• Pick a relevant or appropriate trade name: Planning to set up a Business in dubai freezone ? Pick a relevant trade name for the business concern. Free Zone Authority can be contacted for the Free Zone jurisdiction and to verify the trade name. Don’t select the already listed trade name. The trade name can be registered through a Free Zone Authority.
• Applying license: Determine the license category based on the business activity. Documentation needed for license applications can vary with license type. For instance, documentation to acquire a Professional License can be different from the Industrial License. The relevant license can be applied.
• Sufficient office space: Category of business and number of staff can determine the office space area. Multiple options such as office space for lease, flex spaces are there for startup investors.
• Initial approval: Obtain the approvals from concerned agencies and departments.
• Registration: You can register the business on the official website of the Free Zone Authority, after getting approvals.
• Business License: You obtain the business license within a month if office formalities get accomplished in time.