Steps involved in starting a Business in Abu Dhabi Free Zones
In Abu Dhabi, starting your own business in any of the free zones is very easy and straightforward. This is possible because the government has put in every strategy to ensure that investors spend minimal time and go through the least or zero bureaucracy while starting up their businesses. Note that you can get the whole process done via online portals of the authorities or offline – but it is the same structure. Here are the steps you need to take when it comes to Abu Dhabi free zone business:
1. Initial Approval
This is the very first step and it does not cost anything. It is also free of any hassles for the prospective investor. Before you can establish a branch company, you will be required to submit some specific documents. These include the duly completed application form and a comprehensive business plan. You also need to submit a copy of the current trade license or the registration certificate but that is applicable only if you have a company already. You will also need to submit color passport copies of the shareholders of the company and the appointed manager in charge of the new free zone business that you are about to create. The audited financial reports for the corporate entity for the past two years or the certificate of reference from a personal bank that is of the individual shareholder must also be submitted.
2. The Registration Proper
The first move to be made here is typically the payment of the registration fees which will vary depending on the free zone that you have chosen to establish the business. The fees to be paid will also depend on whether the license being sought is for manufacturing, trade or service. Following the payment of the necessary fees for registration, you will then proceed to do the submission of the duly completed application form for registration. You also need to submit the board resolution that approved the appointment of the manager in charge and the power of attorney issued to the manager, memorandum and articles of association and the specimen signature of the manager. Please note that all these documents must have undergone notarization and attestation by a qualified public notary. In addition to these, you will also need to submit the passport photograph of the manager. The photograph should preferably come with a white background.
This is the final step needed when you want to get your free zone company Abu Dhabi. It is at this stage that the lease agreement is signed and you get the license immediately. Where there is the need for it, the processing for the visa is also going to start immediately. The entire process from start to finish can take a few days to a maximum of about one week. Some of the free zones in Abu Dhabi where people open businesses include Abu Dhabi Business City, Masdar City, Abu Dhabi Media Free Zone (Media Zone Authority) and Khalifa Industrial Zone Abu Dhabi (better known as KIZAD).