By The UAE has become a business hub known for offering substantial growth opportunities that attract many entrepreneurs from all over the world to set up their businesses, particularly in Dubai. Dubai’s flexible taxation system is one of the reasons why many people eagerly want to start their business formation in the city
However, entrepreneurs who want to locate themselves in this city have a number of options for company formation that would require experts and professionals for business setup services in Dubai. You can either set up a Free Zone business or a mainland business. IFZA is the most reputed organization for setting up a Free Zone company. A Free zone company setup has many advantages for entrepreneurs. Let’s understand the Free zone company setup.
What is a Free Zone Company Setup?
Free Zone companies work under free trade zones in which they trade goods and services at favourable tax and customs rates. Many people think that Free Zones and offshore companies are the same, which is not the case. A Free Zone is a zone for companies in which they are allowed to carry out business in Dubai under specific terms and conditions.
The Free Zone company setup process is simple and easy compared to the business in other jurisdictions. It includes minimum paperwork and is not as time-consuming as other business formation processes in Dubai. There are some critical points for setting up a Free Zone company.
Key Points/ Tips for a Free zone company setup in Dubai
1. Determine the Legal Business Activity
Business formation in Dubai can only be possible if you have determined the business activity you want to deal with. The business activity you select must be listed among the thousands of legal business activities offered by IFZA, including the following:
Business Activities in Dubai
● Content Production
● Animation
● Advertising
● Corporate Film Production
● Corporate Print Material
● Digital Content Production
● Educational Content Material
● Film Production
● Gaming Development
● Graphic Design
● Illustration
● Mobile Media
● Music Production and Recording
● Performing Arts and Theatres
● Online Electronic Content Production
● Photography/Videography
● Print Content Production
● Radio Content Production
● Script Writing
● Song Writing and Composing
● TV Production
● Web Design and Development
Other Business Activities
● Branding Agency
● Events/Festivals
● Exhibitions/ Conferences
● Information Services
● Marketing Communications
● Media Content Management
● Post Production
● Professional Association
● Public Relations
● Rights Management
● Training
Publishing and Broadcasting
● Book Publishing
● Magazine and Newspaper Publishing
● Broadcast a Satellite/ terrestrial Television channel
● Broadcast a Satellite/ terrestrial Radio channel
2. Select a Unique Trading Name or Business Name
Picking the name that you want to officially call your business (registered name) and the name that you want to do business as (trading name) are governed by specific guidelines and regulations. For example, the trading name should not be copied or should not match with the names of any renowned organization. Avoid using offensive language as the business license will not be approved for that name.
It is best to check the availability of the names; if it is already registered, avoid taking that name.
3. Apply for Business License
You will need a business license for a Free Zone company set up in Dubai. The companies are provided respective licenses based on the type of activity of the business.
4. Select a Place for Your Business
The official place for your business creates an important impression of your image as a company. It should be strategically positioned to support your business operations. As a Free Zone company, your primary place of business should be inside the jurisdiction that you are registered with. IFZA offers a range of office solutions that create the right environment for your business to thrive.
5. Carry out your business
These are a few tips for successfully starting a Free Zone business in Dubai. Also, under IFZA, the Free Zone company setup process has become easier and less complicated as it is the most reputed Free Zone in Dubai
