Freezone company in UAE
Opening a company in the UAE Free Zone is one of the best solutions for successful entrepreneurs today. The United Arab Emirates offers a wide range of business opportunities: a developed market, a predictable economic and political situation, a young, active, educated population, high technology penetration, and active growth of various industries. The World Expo 2020 and the rapid recovery from the post-COVID state have allowed the UAE to outpace many countries in the world in terms of economic growth.
Registration of a company in UAE free zone
In the UAE today there are more than 40 free economic zones (freezones), and more are at the stage of opening or construction. Some free zones are suitable for registering companies from certain industries, that is, they offer licenses to businesses from specific areas, while others do not have a clearly defined specialization and are suitable for registering companies from different areas of work. For example, Dubai Internet City is suitable for companies that work in the field of Internet technologies, IT, tech and innovation. Ajman Free Zone, Meydan Free Zone and many others unlike the first, accepts a variety of businesses to be set up.
Benefits of opening a company in a freezone in the UAE
The main advantages of registering a legal entity in one of the free economic zones of the UAE are the absence of restrictions on foreign ownership in full, as well as the fact that companies are regulated by an independent body of the free economic zone (Free Zone Authority), which is responsible for issuing commercial licenses and also regulates the company’s activities within the Free zone. In addition to this, there are a number of other advantages.
Firstly, the process of registering a company in the UAE freezone is quite transparent. A few years ago, the Emirates announced a policy to switch to automated solutions, so many of the processes associated with registration with government agencies have been greatly simplified. Secondly, an entrepreneur whose company is registered in the UAE free zone has the same opportunities as all other UAE businessmen, which makes it possible to successfully launch a business.
How to start business in Dubai freezone or another UAE freezone
The opening of a company in the Dubai or Abu Dhabi freezones seems especially attractive to entrepreneurs today. Both cities (emirates) are considered to be a comfortable place not only for work but also for life. Developed infrastructure, many different types of housing, places for recreation and sports, this emirate is in harmony with the unique atmosphere of a multinational metropolis with a developed, dynamic business life.
Investors can either register a new company in the form of a Free Zone Establishment (FZE) or a Free Zone Company (FZC) – a FZE has one shareholder and an FZC has two or more. Also available is the option of opening a branch or representative office of an existing company or a company registered in the mainland (on the mainland) in the UAE or abroad.
FZE or FZC is a limited liability company governed by the rules and regulations of the Free Zone in which it is incorporated. Therefore, the provisions of the UAE Commercial Companies Law (LLC) do not apply.
Documents for a company setup in freezone in the UAE
To begin the process of setting up a free zone company, we will require the following documentation and due diligence from all shareholders/directors of the proposed new company:
- Authorized passport copy and UAE entry stamp/UAE visa (if you are not a resident of the country)
- Proof of address (dated within 3 months)
- Bank statement or letter of recommendation
- CV or a short summary of professional background
- Application for company registration
Some free zones also ask you to prepare a detailed business plan, which also depends a lot on the proposed commercial activity of the new company.
Start your business setup in UAE freezone right now with Accurate Middle East and get your company opened within 5-7 working days only.
Typically, a business plan includes detailed overview of business model, market analysis (based on research), business & marketing strategies and financial plan (cost & revenue projections / profitability). Tentatively, a business plan is 20-35 pages depending on the complexity of the business and takes 4 weeks to complete.
The cost of a business plan services in Dubai varies depending on the scope of work, number of consulting hours and nature of fieldwork, in case market research (i.e. survey & interviews with consumers) is required.
A business plan takes typically 4 weeks to complete. In some cases, a business plan can be completed within 2 weeks timeframe as well.
We initiate discussions (Phone / Skype / Email / F2F Meetings) to understand your needs. We review the requirements and prepare a detailed cost proposal, mentioning the scope, deliverables, cost and timeline. Upon agreeing on the proposal and signing the agreement, we begin with setting up the project and commencing with the fieldwork and development of business plan. Once the business plan is ready, we share the draft to take inputs and feedback. We revise and make updates if necessary.
We understand the sensitivities attached with business concept and ideas. We provide full assurance with regards to the confidentiality of the business plan.
Tentatively, we charge between 50% upfront and 50% upon completion. However in some cases, where we need to engage in fieldwork, we charge slightly higher.
Our Founder & Director – Waqas Hassan is based in Dubai since 1992. Prior to setting up Research Konnection, Mr. Waqas worked in senior management roles in Dubai as well as supervised Academic Research for Business Graduates in the region.
Mr. Waqas brings heap of experience and knowledge of the Gulf market and is passionate in assisting business owners and companies in setting up or expanding business ventures in Dubai, UAE and the Gulf Region.
Yes, we can provide references of our past customers whom we have supported in Business Plan, Market Research and Feasibility Study services.
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