How To Start A Business In Dubai’s Freezone

Dubai Duty-Free zone, as the name suggests, is literally heaven for new entrepreneurs. There, the business gets different kinds of benefits to further develop upon business opportunities. No matter why Dubai duty-free zone is literally alluvial to nurturing business from an embryonic stage.

Want to start your new dream business in Dubai?

You might need some experience. Consult some business mentorship in Abu Dhabi to leverage your business opportunities.

In this article, we are discussing the procedures you have to follow to start your own business.

The Procedure To Start A Business In Dubai Freezone

When you are opening a business in Dubai, you need to follow some rules and regulations and guidelines. This will help you open your business fast. Let’s discuss the procedure that you need to go through in order to start your business in Dubai Free Zone.

1. Determine The Type Of Business Entity

The first thing that you need to keep in mind is the type of business you wish to run. While you wish to start a business in a free zone, there are different requirements for specific business sectors that you need to be mindful of.

Rules for the manufacturing sector are not the same as that of the tourism sector. There is another reason for determining the type of business entity. The requirements are licenses and other documents might not be the same for all the free zones. So you need to determine the type of business entity.

2. Choosing A Trade Name

The selection of Trade names is another crucial step in the overall development. There are some rules and restrictions to a selection of trade names. The principal step to opening a trading name is filling up an application with the Economic departments.

Among different restrictions on trade name selection, one important thing is that you can not use the omnipotent Allah in your company name. The name must not denigrate religion in any way, especially Islam. These need to be taken into consideration religiously.

3. Determine The Type Of Corporate Structure

The corporate structure is another important thing that you need to determine while you have determined to open your new business. There are different types of corporate structures. These includes:

• Free zone establishment limited liability company.
• Free zone Company limited liability company.
• Free zone Company.
• Branch Company.
• Free zone establishment.

You need to study them carefully in order to get a good understanding of the requirements for one particular corporate structure.

4. Application And Submission Of Legal Documents

You will need to produce certain important documents before you start your own business in the Dubai Duty-Free zone.

While you are in the process of seeking the permissions and licenses, you need to get things approved by concerned authorities.

The papers that you need to submit are the application license form, Business play outlay, business cards, passport copies, and banking references.

5. Office Space

Now that you have complied with the aforementioned requirements, you can now search for office space.

There are different clusters inside the duty-free zone. You need to visit there and have a thorough discussion on the office space.

Plan with your partners regarding the kind of or exact requirement for getting office space in the free zone. You can either buy an office space or take office space for rent.

6. Bank Account 

Now that you have moved far in opening your office space, you need to have a bank account. With a Bank account, you get legally enrolled to carry out business transactions.

A free zone bank account will enable you to register each and every business expense. This will also help the investor to track each and every development of your business. Even you need a bank account in the calculation of your taxes.

Other than this, you are also required to get some other important permissions from the concerned authorities. If you get these licenses and permissions, you can start with your business operations.

Start Business 

This might look quite illustrative but know that getting the approvals is not that difficult in the free zone. The policy of the UAE in general and Dubai, in particular, does not allow red tape. They make things transparent as well as flexible for the investors. No matter why entrepreneurs from different parts of the world want to carry out business in the duty-free zone.