Setting up a business in a free zone is a straight forward process. The most important thing you need to focus is on finalizing your company structure and activity.
Below are the steps which will give you a fair idea of – How To Register a company in Dubai Free zone.
Step 1 :
There are many activities to choose from and one may select multiple activities under one. The activity will also determine which free zone is more suitable for you. Some activities might also require some third party approval.
Step 2 :
Choosing a company name is like branding yourself and can help a company in marketing itself. There are certain restrictions when it comes to reserving names. Any forbidden, vulgar, religious or trademarked names cannot be used. Usually, you will have to give up to 3 choices and the registry will then get back saying which one can be reserved. The name must be relevant to the activity of the company.
Step 3 :
In terms of documentation, we have certain mandatory requirements for due diligence purpose for documents required by the shareholder and officers of the company. In case of a corporate shareholder or branch, the parent company’s documents must be duly notarized, legalized and attested in the country of origin and in UAE.
In some cases, the documents must be legally translated into Arabic or English. Your agent will assist in all the paperwork and documentations. The registry may request additional documents and these must be produced to complete the process.
Step 4 :
Your specialist agent will be liaising with you and the registry to process the applications, documentations and also any legal documents to be signed. With some registries, the incorporation can be completed remotely.
Certain restricted nationalities will have to undergo a security approval and this might delay the process. Once the licensing stage is complete, we would also be able to introduce you to a bank; or if you have your own choice we may be able to arrange the meeting with the banking representative.
Opening a bank account depends on the business activity and each bank have their own compliance and due diligence process to open these accounts. In addition to the company documents, the bank may request extra information from the company, in regards to the business transactions, activity, fund movement and also information of potential client/suppliers and their business locations and funds transfer. Doing business with certain countries is prohibited or there could be some form of restrictions from the banks end.
Step 5 :
Your agent will be in charge of processing the visa for you, your employee and your family members through the concerned immigration departments and getting you a legal residency status. They can also assist in other value added services like driving license conversion, wills, insurance, real estate etc.
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Starting a business in Dubai is the right decision and you can surely reap profitable results. This requires a great deal of effort, dedication and focus. It is advisable to team up with authorized and experienced business consultancy firm like PMC Solutions DMCC than carrying out all of these tasks alone.
These are the phase where you need someone to guide you and help you tick-off things from your checklist. You focus on generating and growing new business and we manage the rest.
PMC Solutions DMCC is a Corporate Business set up company specialized in designing & providing customized solutions and consultancy services for Business Setup, and Family Residency for foreign and local investors, willing to setup and grow their businesses in Dubai or entire UAE.