Free Zone Company Formation

Free Zone Company FormationAdvantages of a Free zone Company Formation

Free zones are the most favorable areas for business, whether multinational corporations or startup ventures, to setup their base as they provide state-of-the-art foundation, duty and tax exemptions, world-class business conveniences, adaptable government approaches, and unrivaled facilities. Compared to the Mainland, free zone are preferred due to a relatively relaxed legislative requirements and 100% ownership of the firm to the foreign investor. Most importantly, a free zone enterprise does not need a local investor as a mandatory requirement.

Competition always makes you stronger and better. Competition is feared only by the weak.

-His Highness Sheikh Mohammed Bin Rashid Al Maktoum

“UAE, Vice President
Prime Minister & Ruler of Dubai”

These are not by any means the only factors that encourage business setups in the Dubai free zones. There are many more advantages of forming an organization in Dubai, such as –

  • 100% ownership for investors, regardless of their nationality and country of origin
  • 100% tax exemption on personal or corporate income or gains
  • 100% repatriation of capital and profits
  • Exclusion from all import and export duties
  • Handy office and warehouse facilities
  • Option for a company set up by an individual
  • Exemption on corporate tax for 15 years, renewable for another 15 years
  • Complete secrecy of operations
  • Flexibility to engage in international business
  • Fewer renewal charges
  • Flexibility to hold properties, participate in multiple activities, and open a bank account
    in Dubai
  • The option of liquidating anytime
  • Assistance in housing facilities, staff visas, and other support services
List of Free Zones in Dubai

Dubai has more than 20 free zones offering a wide variety of activities for company
formation. Each free zone has its own parameters for company formation accompanied
by a unique legislative and regulatory mandates. Milesahead can help you identify the
right free zone for your business.

The complete list of free zones include –

  • Dubai Academic City
  • Dubai Airport Free Zone Authority (DAFZA)
  • Dubai Biotechnology & Research Park (DuBiotech)
  • Dubai Car and Automotive City Free Zone (DUCAMZ)
  • Dubai Design District
  • Dubai Gold and Diamond Park
  • Dubai Healthcare City
  • Dubai Industrial City (DIC)
  • Dubai International Academic City
  • Dubai International Financial Centre
  • Dubai Internet City (DIC)
  • Dubai Knowledge Village
  • Dubai World Trade Center Free Zone
  • Dubai South Free Zone
  • Dubai Logistics City
  • Dubai Media City
  • Dubai Maritime City
  • Dubai Multi Commodities Centre or Jumeirah Lakes Towers Free Zone
  • Dubai Outsource Zone
  • Dubai Silicon Oasis
  • Dubai Studio City
  • Dubai Techno Park
  • Dubai Creative Clusters Authority (Dubai Technology and Media Free Zone Authority)
  • International Media Production Zone
  • Jebel Ali Free Zone
  • Economic Zones World
  • Dubai Flower Centre
  • Meydan Free Zone
  • International Humanitarian City
Types of Licenses Available for Business Setup in Dubai Free Zone

It is crucial for every organization to understand the nuances of different free zones in order to identify the right one for their organization. Free zone authorities in Dubai offer some of the following licenses to companies setup in their freezones –

Trading License

This kind of permit permits one to conduct trading activities including purchase and sale of goods & commodities, import and exports of specific goods etc.

General Trading License

This license allows the business owner to trade in a wide range of merchandise, with an exception on a few restricted items which need special permissions.

Professional License

This license is designed for professionals like medical practitioners, chartered accountants, architects etc. who can provide their expert services through consulting or training services

Industrial License

An industrial license is specifically offered to organization that are into activities like manufacturing, processing, assembling, bundling etc.

Types of Business Entities Allowed in Dubai Free Zone
Free Zone Establishment (FZE)

Free Zone Establishment (FZE), an organization that can be formed with 1 individual or corporate investor.

Free Zone Company (FZC)

Free Zone Company (FZC), an organization that can be enlisted with at least 2 individual or corporate shareholders. A corporate shareholder can also be a business entity.

Branch Office

Branch Office, a business entity which is a part of a parent company located within UAE or abroad with the local office located in Dubai free zones.

Procedure to Set Up a Business in Dubai Free Zone

Setting up a business in Dubai requires some general documentation and formalities that need to be followed. While each entity demands specific paperwork, the overall procedures remain the same. Milesahead works hand in glove with you in every step of the way to ensure a smooth transition.

Choose a venture type

The nature of business is one of the key criterions for identifying the right free zone for your business. So choosing the type of business would be the first step in this process.

Select your ideal free zone

There are specific free zones for various business types, e.g. Information Technology, Business Consulting, Finance & Accounting etc. Once the business venture type is identified, we at Milesahead can advise you on the best options suitable for your needs.

Pick a firm name

Choose your business name wisely. It represents your brand and business for you. But this might not be the only reason for putting more thought into this decision. It is critical to ensure that your business name is available for registration in the free zone. There are some strict norms for choosing the name, including avoiding any disrespectful language or references to strict or political associations in the name etc.

Collate documentation and apply

Once all your preliminary steps are complete, Milesahead team can help you put together a complete documentation list to be sent with your application. We can also help you with your immigration support, which includes visa application

Open a corporate bank account

Once your free zone application is approved, you are ready to start your business operation. The first step in this way is to open a bank account to accept remittances and make payments. Milesahead supports you even in this final step by helping you with the bank account opening process, filling up forms, collating documents for submission etc.

Do you think Free Zone is right for you? If you still need more information, CALL US NOW for your consultation

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