Establishing a company in the Dubai Free Zone

The Dubai Free Zone is an ideal environment for establishing and operating companies, as it provides distinct opportunities and competitive advantages for investors. In this article, we will talk about the process of setting up a company in the Dubai Free Zone with Itqan Company.

Itqan Company is the ideal partner for investors who aim to establish their company in the Dubai Free Zone . The company provides specialized services and comprehensive support to facilitate the process and achieve success.

By choosing a free zone in Dubai, you will benefit from many advantages such as tax exemptions, customs facilities, 100% foreign ownership of the company and no specific minimum capital required.

Through Itqan, you will receive comprehensive support in preparing documents, providing advice in choosing a business and registering a company, and achieving legal and regulatory compliance.

Depending on the experience and knowledge of Itqan Company, you will be able to successfully direct your business in the Dubai Free Zone. Benefit from ongoing support and strategic advice to achieve your business goals and develop your activity in the thriving business environment of the Dubai Free Zone.

Establishing a company in the Dubai Free Zone

Establishing a company in the Dubai Free Zone is considered an important strategic step for investors seeking to benefit from the advanced economic environment and commercial facilities available in Dubai. Dubai’s free zones provide advanced infrastructure and specialized facilities, providing an ideal environment for business and investment. In addition, free zones allow companies to access a wide international market, and offer many advantages such as tax exemptions, ease of importing and exporting, and practical legislation that serves the needs of companies. Thanks to these advantages, Dubai free zones are an attractive option for investors seeking to establish their companies and expand their businesses in the region and across international borders.

Basic steps to establish a company in a free zone in Dubai

Establishing companies in a free zone in Dubai can be a strategic move for many businessmen and investors seeking to take advantage of the benefits available in these areas. Below are basic steps to establish a company in a free zone in Dubai:

Choosing the right free zone: There are several free zones in Dubai, each with its own characteristics and industrial focus. You must choose the free zone that suits your business.

1. Determine the type of company: You must determine the type of company you wish to establish, whether it is an individual company, a joint stock company, or a limited liability company, according to your business needs and local laws.
2. Choosing a company name and ensuring its availability: You must choose an appropriate and unique name for your company, and ensure that it does not conflict with the names of other existing companies. You can check the availability of the name through the Dubai Department of Economic Development website.
3. Submitting an application for registration: After choosing the free zone and the type of company, you must submit a registration application to the competent authority in the free zone. You will need to fill out the required forms and submit the required documents.
4. Determine the space and secure the property: You must determine the required space for your company’s headquarters and secure the appropriate property in the free zone, whether for rent or purchase.
5. Obtaining the necessary licenses and permits: After submitting the application and confirming the availability of the property, you will need to obtain the necessary licenses and permits to begin work.
6. Opening a bank account: You must open a bank account for your company in an approved local bank, in order to carry out the company’s payment and financial transfer operations.
7. Insurance and Tax Registration: You must obtain the necessary insurance and tax registration in accordance with local laws.
8. Obtaining work permits: If you intend to employ employees, you must obtain the necessary work permits from the relevant authorities.
9. Completion of the final procedures: After completing all procedures and requirements, you will obtain an operating license that allows you to start working in your company in the free zone.

Necessary permits to start working in a free zone in Dubai

To start working in a free zone in Dubai, there are usually several necessary permits that must be obtained. The exact list of permits may vary depending on the type of company and its activity, but there are some common permits that are often necessary:

• Company License (Trade License): This license is issued by the free zone authority, and allows the company to practice its commercial activity in the free zone.
• Office License: If your company needs an office within the free zone, you will need an office license that allows you to use the space designated for work.
• Building Permits: If you have an office or commercial building in a free zone, you may need building permits to carry out any construction or renovation work.
• Environmental and Health Permits: In some cases, there may be environmental and health permits required by the free zone authority before work can begin.
• Labor Permit: If you intend to employ employees in the free zone, you will need to obtain a work permit for each employee.
• Transport Permits: If you have any activity that requires transporting goods or goods, you may need special transport permits.

Costs of establishing a company in a free zone in Dubai

The costs of setting up a company in a free zone in Dubai can vary greatly based on several factors, including the type of company, the size of the business, and the free zone chosen. Here are some of the basic costs you may face while setting up a company in a free zone in Dubai:

1. Registration and license fees: These fees include the cost of registering the company in the free zone and obtaining the necessary licenses to conduct business activity.
2. Maximum Capital: Some free zones may require setting a minimum or maximum capital for your company, and this may affect the overall cost of setting up the company.
3. Real Estate Costs: Includes rental or purchase costs for office or commercial space in the free zone, plus additional fees such as deposits and real estate fees.
4. General utility costs: These fees include electricity, water, communications, internet, air conditioning, maintenance and cleaning costs.
5. Production and operating costs: If you operate in a sector that requires special equipment or consumables, you will need costs to purchase this equipment and materials.
6. Labor costs: include the costs of recruiting and securing qualified workers, and training costs if necessary.
7. Advertising and Marketing Costs: You may need to invest in advertising and marketing to attract customers and build brand awareness for your company.
8. Consultation and professional services costs: If you need help from local consultants, lawyers or accountants, you will need to budget to cover the costs of these services.

Establishing a company in the Dubai Free Zone

Steps to open a bank account for a company in a free zone

Here are general steps for opening a company bank account in a free zone in Dubai:

1. Choosing a bank: Research and choose the bank that meets your company’s needs and provides the appropriate services for you. You can consider a range of factors such as exchange fees, interest, customer service, and others.
2. Gather the required documents: Before going to the bank, make sure to collect the required documents. These documents may include a passport, company social contract, company licence, incorporation documents, and any additional documents required by banks.
3. Personal attendance to open the account: In many cases, you must come in person to the bank branch to open the company account. Banks may require the signature of the authorized person or legal representative of the company.
4. Fill out forms and provide information: You will need to fill out the application forms provided by the bank and provide the necessary information related to the company, such as company name, address, type of activity, and shareholder information.
5. Verification of identity and credibility: The bank may require verification of the identity and credibility of the company and authorized officials through the documents provided, and some banks may require the signing of additional documents.
6. Opening Funds Transfer: You may be asked to deposit a certain amount of money as an opening deposit into the new account, an amount that may change depending on the bank’s policy.
7. Account opening confirmation: After the procedures are completed, an official notification will be sent from the bank confirming the account opening, providing you with the necessary account details such as the account number and contact information.

Key advantages of setting up a company in a free zone in Dubai

Establishing a company in a free zone in Dubai provides many competitive advantages and investment opportunities. Among the main advantages:

• Tax exemptions: Freedom Zones in Dubai provide full or partial tax exemptions on income and corporate taxes for a specified period, which reduces the financial burden on startups and increases their profitability.
• Easy access to the regional and global market: Dubai is located in a strategic location, allowing easy access to the Middle East, North Africa and Asian markets, providing opportunities for expansion and growth.
• Advanced Infrastructure: Dubai’s Freedom Zones provide modern and advanced infrastructure, including seaports, airports, roads and communications, which facilitates transport and export operations and enhances communications.
• Flexible business legislation: Dubai provides a flexible and business-friendly legislative environment, which facilitates administrative and regulatory procedures for companies and helps them adapt to rapid developments in the market.
• Customs facilities: Freedom Zones in Dubai allow export and import without customs duties or major restrictions, which facilitates international trade and increases opportunities for growth and expansion.
• Availability of skilled workers: Dubai has a pool of skilled and educated workers in various fields, which facilitates recruitment processes and enhances productivity and innovation in companies.

In conclusion of this article, we realize that establishing a company in the Dubai Free Zone represents an ideal investment opportunity for investors. In cooperation with Itqan Company, you can benefit from its experience and deep knowledge in establishing companies in the free zone .

By choosing the Dubai Free Zone, you will enjoy unique benefits such as tax exemptions, customs facilities, and freedom of 100% foreign ownership of the company. Thanks to Itqan Company, you will receive comprehensive support at all stages of establishing a company, from preparing documents, choosing the business activity and registering the company, all the way to ensuring legal and regulatory compliance.

The most important frequently asked questions about establishing a company in the Dubai Free Zone