Want to start your new business in the UAE but do not know where to start? Then you are at the right place because in this article we are going to discuss how you can start your business in the UAE and where to start. We are going to give you a complete guide on mainland and free zone businesses.
The UAE is a famous and an excellent spot for business for a number of reasons. First of all, its ideal location as a crossing point between East and West makes it a centre for trade and business.
Second, the UAE offers a business-friendly atmosphere with world-class facilities, tax breaks, and government policies that are favourable. It also provides a multicultural and varied market that lures both domestic and foreign companies. For further information about the free zone and mainland companies read below.
What are mainland companies and free zone companies?
There are two types of businesses or you can say business registrations in Dubai ( UAE ) you can have: first is a Mainland company and the second Free Zone company.
For the mainland company, your physical appearance is necessary or needed in UAE. So first you have to register your company, second you have to rent an office or a shop for your business, and third you have to find a local sponsor for your company whom you would be sharing 51% of your business shares with and 49% will be your share. But every time you do not need a local sponsor because it depends on your business activity requirements so not all businesses need a local sponsor and at last you have to submit all of your documents to the economy department of the government.
After that, you will be getting a payment voucher. After paying the voucher your business licenses will be issued and this process will take a minimum of 7-8 days.
This whole process will cost you a minimum of 15 thousand dirhams.
It’s just the legal license process costs, hiring office or shop and your partnership with a local sponsor will cost you a separate amount of money.
Free Zone company
Registration in a free zone company is quite easy and affordable as compared to the mainland company.
You can apply online for registration from any corner of the world, your physical appearance is not necessary for the free zone registration process.
In a free zone company, you only get a license for the online business of UAE which means you would not need an office or a shop for your business in UAE. It means your free zone license would be only valid for the online business.
There are around 40 free zone registrars in every city of UAE and it’s quite hard to pick one for your business startup.
Do not worry, we are here to help you in this matter. Among those 40
Meydan Free Zone is a heaven for new businesses, where you can easily grow your new business. Starting a new business in a free zone is quite easy now in the UAE, especially with a right-free zone designated area.
Meydan free zone
The Meydan Free Zone, based in Dubai, is a unique economic zone designed to promote growth across many industries. Its main areas of interest are technology, sports, and entertainment-related firms. Companies can establish and operate in a free zone, which offers advantages like tax breaks and streamlined business procedures.
The zone is particularly well-known for its state-of-the-art facilities and infrastructure, which attracts businesses seeking to establish operations there. The purpose is to establish a vibrant business climate that promotes creativity, teamwork, and economic growth.
Meydan Free Zone businesses have a number of facilities and services, such as cutting-edge telecommunications infrastructure, modern office spaces, and a regulatory environment that is favorable to their operations. For businesses in industries including science and technology, sports, and entertainment, the zone’s industry-specific focus and advantageous location in Dubai make it a desirable option.
In general, the Meydan Free Zone contributes to Dubai’s economic growth by drawing and promoting companies in important industries, strengthening the city’s standing as a major international business center.
How to apply for registration at Meydan Free Zone Company?
For the registration process at Meydan Free Zone, you have to follow multiple steps. We have made a guide for you:
- Do your homework and select the right business activity for your business:
Acknowledge the kinds of activities that are permitted in the Meydan Free Zone. Determine the specific kind of commercial activity that your company plans to engage in.
- Make a business plan:
Summarise your company’s targets, organizational framework, and commercial practices in a thorough business plan. This is frequently necessary to move forward with the application procedure.
- Choose the right licence type for your business:
Various licensing categories are available at Meydan Free Zone depending on your type of business activity. Choose the license category that is right for your business.
- Submit your application:
Fill out the application that Meydan Free Zone provides. Add all necessary paperwork, including copies of your passport, your business plan, and any necessary certifications.
- Choose office type:
Within the free zone, select the kind and size of workspace you require. Meydan Free Zone offers modern office space to meet a range of commercial requirements.
- The legal framework of your company:
Choose your company’s legal form, including whether it will be a branch of an already-existing business or an independent Free Zone limited liability business (FZ-LLC).
- Registration approval process:
The officials of Meydan Free Zone will examine your application. Verifications of the company plan, legal requirements, and other relevant elements are part of this procedure.
- Payment process: You need to pay for your specific selected license type and if you are leasing an office then you also have to pay for that after the approval of your application for these two things. The license price, registration fee, and office space rent are a few examples of these costs.
- Signing of lease agreement:
Fill out the lease form agreement if you want to lease an office place at Meydan Free Zone. Make sure you read the conditions and terms.
- Get your licence:
Once you have made all the required payments and actions, you can pick up your business license. You are able to conduct lawful business within the boundaries of the Meydan Free Zone with this license.
- Visa procedure:
Meydan Free Zone offers visa services if your staff requires visas. To get the required permits for your team, complete the visa application process.
For the most exact and recent information, it’s important to review the exact rules and regulations at the authorized Meydan Free Zone site or get in touch with their company establishment services.
To guarantee an effortless application process, you should also think about speaking with business setup specialists or getting advice from experts.
Why is the Meydan free zone a good choice for entrepreneurs?
It is an excellent option for business owners such as yourself. It provides a number of advantages that might support the growth of your company. It provides an atmosphere that is favorable to business, with complete foreign ownership, zero personal or company taxes, and no currency limitations. You’ll also have quick access to important commercial centers and tourist destinations because of its advantageous position close to Downtown Dubai.
It is a great opportunity for the newcomers to establish themselves in the fast-growing Dubai economy with the help of the Meydan free zone. You would be getting a lot of benefits and help regarding your new business with a minimum of taxes and fees as compared to the other free zone companies. There are no personal or corporate taxes, it means you save your money and reinvest it in your business or in someone else’s. So in the end you should give them a try if you are totally blank and do not know what to do or what to do but you are full of passion for your work.