Establishing a company in the Dubai Media City Free Zone

Establishing a company in the Dubai Media City Free Zone is considered a strategic and important step in the world of business, as this region provides an ideal environment for companies wishing to grow and expand in the media and media production sector. In order to achieve this goal efficiently and smoothly, Itqan Company can be the ideal partner for investors wishing to invest in this vital region.

Itqan Company is a company specialized in the field of legal, economic and administrative consulting, and has extensive experience in the field of establishing companies and providing the necessary services for them in the region. Through its cooperation with investors, Itqan provides integrated services that include studying the economic feasibility, choosing the appropriate business activity, preparing the necessary legal documents, and facilitating all administrative and legal procedures required to establish a company in the free zone.

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Steps to establish a company in the Dubai Media Free Zone

There are some steps that every investor must follow to achieve success in establishing a company in the free zones in Dubai , and you can seek help from the Itqan Company team, which is one of the best companies ever working in the field of establishing companies in the Emirates, which takes the following steps:

Determine the type of activity

Identifying the activity is the first step to obtaining a business license. Through the activity, the parties associated with this activity and the permitted legal forms are identified. The legal entity of free zone establishments in the country takes one of the following two types:

Free zone limited liability company
Free zone establishment

The difference between the two types lies in the number of shareholders and the nature of the shareholder, whether a natural or legal person. Not all free zones are obligated to register these two types of establishments.

Therefore, we advise the investor to refer to the body responsible for managing each free zone separately to inquire about the legal structure available for the type of activity that he wants to practice.

The Dubai Multi Commodities Center allows the establishment of a limited liability company, which takes the form of a subsidiary wholly affiliated with a local or foreign company. Existing local and foreign companies can also establish branches in other free zones.

Capital requirements

Capital requirements in free zones in the country vary depending on the region and activity. When determining the type of legal entity for your business activity, you should also think about choosing a trade name that is appropriate for the activity.

In most cases, you must refer to the relevant free zone authority, or the relevant Department of Economic Development, to find out the authorized trade names and whether the name intended by you has been previously registered by a company. On the other hand, the Departments of Economic Development require certain conditions to approve a trade name, including:

It must not be contrary to public order and morals
It must be followed by something indicating the legal entity of the company, such as: (LLC, PJSC, PJSC, FZE, FZE)
Must not be registered or used for the same or similar type of activity
It must comply with the nature of the activity and the required legal form
It must not include sectarian or sectarian names, the names of the ruling authority, or the names and logos of local, Arab and international bodies, institutions and organizations.
It must not be identical or similar to a local or international trademark registered with the Ministry of Economy

Applying for a commercial license

The type of license you seek depends on the primary activity of your business. In free zones, you can buy or rent office space. Office requirements depend on the number of employees and the type of practical activity of the company. Obtaining initial approvals, registering the activity and obtaining the license

Establishments established in free zones are subject to the laws and regulations that govern each specific free zone body or authority.

In order to obtain the necessary approvals, you must apply for the necessary documents. The list of documents varies according to the type of activity and the requirements of the free zone authority. Below are general instructions on the steps and documents needed to obtain approvals. In order to obtain initial approvals, you need the following:

An application form for initial approval, complete with the required data, and a work plan
A copy of the existing business license/registration certificate (for existing companies, this applies to local companies only)
Color copies of the passports of the company’s shareholders, and the director or member of management appointed to the new company
A signature form for both the shareholders of the company, and the director or member of management appointed for the new company
Audited financial reports on the company’s budget for two years, or a reference certificate from each shareholder’s bank
No objection letter from the current sponsor (for individuals)
A title deed for the real estate unit, a letter of intent, and a form with the commercial registry identification code for the manager/management member (submit the original copy officially authenticated by a notary public)

Documents for establishing a company in the Dubai Media Free Zone

To establish a company in a free zone such as Dubai Media City, you will usually need to submit the following documents:

Registration application form: It contains company information such as its name, activity, job title and percentage of shareholders.
A copy of the shareholders’ passports: A copy of the passports of each shareholder is required.
Company instrument: contains details of the partners and their shares in the company.
Partners Agreement: A document that specifies the rights and obligations of the partners.
Commercial Activity Permit: A document that specifies the type of commercial activity that the company will undertake.
No Objection Certificate: Non-UAE resident shareholders are required to submit this document from the government authorities in their country.
Bank letter: stating that the required capital has been deposited in a local bank account.
Office Lease Contract: An office lease contract must be submitted in an approved free zone.
Personal information form: contains personal information about shareholders and general managers.
A copy of the residence permit: for the general manager and general managers if they are not Emirati citizens. Remember that requirements can change, so it is best to check with the relevant authority in the free zone before starting the process.

Advantages of establishing a company in the Dubai Media Free Zone

Establishing a company in Dubai represents an investment opportunity and important advantages in the media and media production sector. The city is characterized by advanced infrastructure and integrated services that meet the needs of media companies, making it an ideal destination for companies wishing to develop their business in this field, as these features are represented in the following:

Customs facilities: The free zone allows you to import and export goods and services without customs duties or value-added taxes.
Flexible legislation: It provides companies affiliated with the free zone with legal benefits such as tax exemption for a specific period and the possibility of foreigners owning a large percentage of the company’s share.
Advanced infrastructure: The free zone provides an advanced infrastructure that meets the needs of media companies, including offices, warehouses, and production studios.
Easy access to the regional market: Dubai provides a strategic location that facilitates access to the Middle East, North Africa and South Asia markets.
Suitable business environment: The free zone provides a suitable business environment that encourages innovation and growth and provides the necessary support to emerging companies.
Simplified administrative procedures: The free zone provides simplified and quick administrative procedures for establishing and operating companies.
Guidance and Support: The Free Zone provides support and guidance to new businesses to help grow their business and achieve success.

How can you establish a company in the free zone?

Establishing companies in the free zones in Dubai is much easier than establishing a company inside Dubai, as it can be 100% owned by any nationality, and the presence of a partner or sponsor who is a citizen of the UAE is not required, as the company is registered as a free zone establishment or it is a company belonging to The free zone or a branch or representative office in the free zone in Dubai. In this case, it is possible for the main company to be outside the Emirates, and it is not required to be inside the Emirates. The companies located within the free zone are regulated through the authority responsible for the free zone, which is the one that issues any licenses to the company. This depends on the location of the free zone and the activity it carries out. The type of license issued by the responsible authority varies according to the commercial activity. A company can be established in the free zone by following some steps, including:

Choose the company’s location
Agreeing on the trade name, as it is the name that distinguishes one company from another.
Obtaining the company’s business license.
Obtaining initial approval to start work.
Commercial license registration.
Complete the requirements for a commercial license and obtain it.

Costs of establishing a company in the free zone

Establishing a company in the Dubai Media City Free Zone involves several basic costs that must be known by contacting Itqan Company, including:

Registration and license fees: These include the costs of registering the company and obtaining the necessary licenses from local authorities.
Office and infrastructure costs: These include the costs of renting an office in the Media City and providing the necessary infrastructure for the company’s work.
Labor and health insurance costs: These include the costs of hiring the employees necessary to operate the company, in addition to providing them with health insurance.
Marketing and advertising costs: to promote the company and attract customers and business partners.
Administrative and legal costs: related to hiring employees to carry out the administrative work and legal consultations necessary to run the company.

These are some of the basic costs that you may encounter when establishing a company in the Dubai Media City Free Zone, and these costs can change based on the size of the company, its activity, and its specific requirements.

How can you establish a company in the free zone?

Conditions for establishing a company in the Dubai Free Zone

Establishing a company in a Dubai free zone , such as Dubai Media City, requires compliance with some basic conditions. Among these conditions:

You must determine the type of company you wish to establish, whether it is a sole proprietorship, a joint stock company, or a partnership, according to the business activities you intend to carry out.
Some free zones may require specifying the capital needed to establish the company, which can change depending on the type and size of the company.
An office or work space must be provided in the free zone in accordance with specified requirements.
The government licenses and permits required for the company’s activity must be obtained.
A bank account must be opened in the name of the company in the United Arab Emirates.
Personal information about shareholders and directors representing the company must be provided.
The necessary contracts and agreements must be submitted to establish the company and determine the legal and financial relationships between the partners.
The necessary insurance must be provided for the company and its employees in accordance with local laws.

Dubai free zones are committed to providing a suitable business environment for companies, and strive to simplify procedures and provide the necessary support for new companies to easily establish their activities.

In conclusion, it can be said that establishing a company in a free zone such as Dubai Media City is considered a strategic and important step in the business world. This region provides advanced infrastructure and integrated services that attract companies wishing to develop their business in the media and media production sector. It also facilitates procedures and provides the necessary support for new companies to achieve their success in a dynamic and innovative business environment. It is necessary to adhere to the legal and administrative conditions and requirements for establishing a company, and to verify the details with the competent authorities before starting the process. Establishing a company in a free zone can be a successful start for your business venture, and can open doors to new opportunities and future growth.