Establishing your own business in any of the free zones in Dubai is very straightforward and stress-free. This is possible because the government of Dubai has put in place everything to ensure that creating a business in the free zone is very swift, requires little documentation and there is almost no frustrating bureaucracy. The following are steps you need to take
concerning the establishment of a free zone company in Dubai:
Choose the Kind of Business Entity
This is the first step when it comes to free zone business setup in Dubai. There are two types of ventures that you can choose from regarding free zone businesses. These include Free Zone Company (FZ Co) and the Free Zone Establishment (FZE). The number of shareholders will depend on the type you choose. Only one shareholder is needed for the FZE option while more than one shareholder is needed for the FZ Co option.
Choose a Business Name
Once you have decided upon the type to go for, the next step is to choose a name for the business. This will also make sure that the chosen name has been registered with the relevant authorities in the free zone.
Select the Business Activity
When it comes to free zone businesses in Dubai, there are thousands of enterprise niches that you can choose from. These include financial service, logistics, shipping, aviation, food packaging, construction, education, technology, media, gems, textiles and so on. Whichever of these businesses that you select is the one that your free zone business is going to focus on. You have to choose the business type where you have the greatest strength and one that will give you the highest profitability and degree of efficiency.
Secure Approval from Authority
For every free zone, some specific rules and regulations have been put in place. For you to secure the initial approval from the authorities, all you need to do is to send in your application with all the relevant documents. The kinds of documents that you are going to send in will depend on the nature of the business activity and enterprise type in addition to the requirements of the free zone authority. For each free zone, there are often details of the documents needed on the official website and some even have options for online submission of applications for approval from the authorities.
Work on the Office Space
In starting your free zone business Dubai, you need to work out the cost of purchasing or leasing the space you will site your office. To save money and eliminate unnecessary costs, you should go for the most affordable areas of the free zone.
Get the License
This is the final step when it comes to setting up your own free zone business in Dubai. Once the authorities give you the approval, you make payment for the registration and license. It is often faster for those who have carefully followed the outlined steps. The precise costs for licensing and registration depend on the free zone you are going for. These are the steps you need to follow when starting free zone business Dubai without stress.