A step by step guide to set up your company in the free zone
There are some impeccable benefits you may receive when you plan to set up your company in free zones in Dubai. The government is very keen and enthusiastic to provide all types of necessary facilities to the entrepreneurs and startup founders to come and start their business operations here. If you want a global exposure for your business with a business-friendly environment to grow, free zones in Dubai are your ideal destination to start your business operations.
However, you need to complete the necessary formalities and go through a simple and quick registration process to set up a company in free zones. In this blog, we will discuss a step by step guide to start and set up your business in free zones.
Choose your business activities and operations
This is the first and foremost thing to determine when you want to set up a business in free zones. There is a wide range of business activities you can choose from advertising and animation to production of films or prints to information technology to marketing and communications to branding to import and export to manufacturing and distribution of goods and services. Decide what business activities you want to do here.
Choose a type of legal entity
Which type of legal entity your business would take up is the second step to determine. There are two types of legal entities you can choose from when you want to start a business in free zones.
- Free zone limited liability company (FZ LLC)
- Free zone establishment (FZE)
The main difference between these two legal entities is the number of shareholders. Not all free zones allow you to go for any of the two legal entities mentioned above. You need to ask the authorities about the same. Some free zones offer options whereas some free zones have a single entity only to choose.
Different free zones have different capital requirements and you need to check with the authorities about the same.
Choosing a trade or business name
The next step is to decide the trade name that you would like the world to remember. Here, you need to enquire about the permitted trade names with the authorities. Also, you need to check whether the intended trade name has been registered before or not. You cannot choose a trade name that is already in use.