Free zones in Dubai are considered an ideal environment for establishing companies, as they provide distinguished business and investment opportunities with flexibility and ease. Establishing a company in the Dubai Free Zone requires following specific procedures to ensure speed and smoothness of the process. In this article, we will learn about the procedures for establishing a company in the Dubai Free Zone.

First, investors must decide what type of company they want to establish, whether a sole proprietorship, limited company or partnership, depending on their business objectives and needs. Then, they must research and consult to choose the appropriate free zone for their activity, as there are specialized free zones in areas such as technology, logistics, food industries, and others, which makes it easier for them to benefit from the infrastructure and customized services.

After determining the type and region, investors must obtain a license from the competent authorities in the free zone, and submit the necessary and required documents such as contracts, business plans, and certificates necessary for establishment. They must also determine their tax and legal responsibilities in accordance with local laws and regulations.

After completing these steps, investors can begin conducting their business in the free zone, benefiting from the local and international advantages that these zones provide, such as tax incentives, access to regional and global markets, and a flexible and innovative business environment. In short, establishing a company in the free zone in Dubai It requires careful study and following specific procedures that ensure compliance with laws and take full advantage of the available economic and business opportunities.

Procedures for establishing a company in the free zone in Dubai

Establishing a company in the Dubai Free Zone requires following specific procedures that differ slightly from establishing companies in other areas of Dubai. Below are the basic procedures for establishing a company in Dubai in cooperation with Itqan Company:

1. Choosing the type of company: You must determine the type of company you want to establish, whether it is a local company, a subsidiary, a joint venture company, or a subsidiary. The requirements and procedures for each type of company vary.
2. Choosing a free zone: You need to choose a free zone that matches your company’s needs and economic activity. It is advisable to study the different free zones, their advantages, costs, and availability of infrastructure and services before making a decision.
3. Obtain a company license: After choosing a free zone, you must obtain a company license. This requires submitting the required documents, necessary financial and commercial files, and paying the prescribed fees. More details about the documents and requirements can be obtained from the relevant authorities in the free zone.
4. Establishing the company: After obtaining the company license, the company must be officially established. This includes defining the company’s organizational structure, assigning responsibilities, and signing legal documents, such as enterprise contracts and internal agreements.
5. Registration and social insurance: The company must be registered with the local authorities and obtain a tax identification number and social insurance for employees.
6. Opening a bank account: A bank account must be opened in the name of the company to manage financial matters and commercial transactions.

Establishing a company in the free zone in Dubai

Types of free zones in Dubai

Main requirements for establishing a company in the free zone

Establishing a company in the Dubai Free Zone requires compliance with a number of key requirements that vary slightly depending on the type of company and the specific free zone. Here are some generally key requirements:

1. Company type: In addition, you must specify the type of company required, such as a limited liability company, a public company, or a limited liability company.
2. Company name: You must also choose a unique and appropriate name for the company and ensure that it is available and not similar to the names of other companies.
3. Law firm: Then investors often need to contract with a local lawyer to assist them in the process of establishing the company and submitting the necessary documents.
4. Capital: Therefore, the capital required to establish the company must be determined and provided in a local bank account.
5. Government Permit: Investors also need to obtain a government permit from the relevant local authorities in the free zone.
6. Legal documents: Legal documents must also be submitted, such as the company’s articles of incorporation, a list of shareholders and directors, photographs of shareholders and directors, and their passports.

This is just a general overview, and requirements can change depending on the exact type of company and local laws in the chosen free zone. It is always better to use a specialist company, Itqan, to ensure full and proper compliance with all procedures.

Fees and costs associated with establishing a company

The costs of setting up a company in the Dubai Free Zone may vary depending on the type of company and the specific free zone, but here is an overview of the fees and costs typically associated with setting up a company:

1. License fees: First and foremost, these fees include the cost of obtaining a license to establish the company in the free zone.
2. Registration fees: Also the costs of registering the company and its files with the relevant authority in the free zone.
3. Consulting services fees: Therefore, you may need to hire legal advisors or lawyers to assist you in the process of establishing the company, and this requires paying consulting fees.
4. Tax registration fees: Also in some cases, the company must be registered for value added tax (VAT), and this may include a registration fee.
5. Initial capital: Then you must provide the initial capital required to establish the company, and this depends on the type of company and local laws.

This is a general list, and costs and fees may change depending on the exact circumstances of your company and the specific free zone. It is always best to consult Etqan to get an accurate estimate of expected costs and fees.

Ways to establish a company in the free zone in Dubai

The time it takes to establish a company in the Dubai Free Zone

The times for setting up a company in the Dubai Free Zone vary depending on the type of company and the complexities of the process, and there are several factors to consider. Here’s an overview of how long it generally takes:

1. New companies: First and foremost, the procedures for establishing new companies in the free zone in Dubai can take between two weeks to approximately a month. This includes preparing the required documents, submitting them and processing them by the relevant bodies.
2. Companies with complex activities: Then, if the company specializes in complex activities or requires special approvals, such as vital industries or construction, its establishment may take longer, up to months.
3. Visas and foreign currencies: Therefore, if the company employs foreign employees, the process of obtaining work permits and visas may take additional time.
4. Negotiation and agreements: Also, if it is necessary to negotiate special agreements with local authorities or with local partners, it may take a longer time to complete the establishment process.
5. External factors: Then external factors such as official holidays and changes in government and economic policies must also be taken into account, as these factors may affect the speed of completing operations.

Therefore, it is always better to plan ahead and consult with Itqan consultants to understand the expected time required to establish your company based on your specific situation and the type of company you wish to establish in the Dubai Free Zone.

Financial guarantees for establishing a company in the free zone

Establishing a company in the Dubai Free Zone requires specific financial guarantees that help confirm the seriousness and financial stability of the company. Among the common financial guarantees that may be requested when establishing a company in the Dubai Free Zone are:

1. Capital: First and foremost, the capital necessary to establish the company must be determined and how to provide it from reliable financial sources must be clarified.
2. Bank guarantee: Local authorities may also require a bank guarantee that serves as a financial guarantee proving the seriousness of the company and its ability to provide the funds necessary to start the business.
3. Financial reports: Therefore, financial reports can be requested from a certified accountant proving the company’s ability to bear costs and achieve profits.
4. Investment Guarantees: Then if you are receiving investments from investors, you may need to provide financial guarantees confirming that the funds will be used in a correct and efficient manner.
5. Signing a financial guarantee: The authorities may also require the signature of a personal financial guarantee from the company’s main shareholders.

It should be noted that the financial guarantees required may vary depending on the type of company and its activity, and there may be additional guarantees required based on the individual circumstances of the company and the requirements of the relevant government bodies. It is important to consult with Itqan to understand the financial guarantees required for your own company in the Dubai Free Zone and ensure your full compliance with the financial and legal requirements.

Our service in establishing your company in the free zone

Itqan Company is one of the companies specialized in providing company establishment services in free zones in Dubai and the United Arab Emirates in general. Itqan Company offers a range of services to help you establish your company in the free zone. These are some of the services it may provide:

1. Company establishment consultations: We also provide the necessary consultations on the necessary steps to establish a company in the free zone and the appropriate type of company.
2. Preparing documents: We also provide assistance in preparing all the documents required to establish the company, such as incorporation contracts, lists of shareholders and directors, etc.
3. Registration and licenses: Then assistance in the necessary registration processes and obtaining the necessary licenses from the relevant government agencies.
4. Assistance with addressing and virtual offices: thus providing addressing and virtual office services if you do not have a private office address in the free zone.
5. Mediating with the relevant authorities: We also mediate and negotiate with the relevant authorities in the free zone on your behalf during the establishment process.

This is just an overview, and the services provided can vary depending on the individual Itqan company and its field of specialization. It is always important to check the details of the services provided and expected fees before starting the company formation process.

Dubai Free Zone

In conclusion, with the increasing demand for establishing companies in the free zones in Dubai, Itqan Company plays a vital role in providing the necessary advisory services and assistance to those wishing to establish their companies in these dynamic areas. Itqan Company is one of the leading companies in providing legal services and consulting in Dubai, and is distinguished by its experience and efficiency in the field of establishing companies in free zones. Itqan Company offers a range of services dedicated to helping clients start their businesses successfully in this thriving economic environment.

Also among the services provided by Itqan Company is assistance in choosing the appropriate type of company and preparing the necessary documents for its establishment, including incorporation contracts and lists of shareholders and managers. The company also provides consulting services in the areas of taxation, licensing and financial affairs, ensuring full compliance with local laws and legislation.

Thanks to its specialized and efficient team, Itqan Company is considered a reliable partner for clients who wish to establish their companies in the free zones in Dubai. Thanks to the comprehensive services it provides, the company helps clients focus on growing their business without having to think about complex legal and procedural details.

In the end, your cooperation with Itqan Company is a strategic and smart step to begin your success journey in establishing your company in the Dubai Free Zone and achieving success and prosperity in the local and international market.

Frequently asked questions about the procedures for establishing a company in the Dubai Free Zone