Requirements for Incorporating a Company in Dubai Free Zones

 

 

Requirements for Incorporating a Company in Dubai Free Zones

General Requirements for obtaining Initial Approval ;-

1. Initial approval application form
2. Business plan.
3. Copy of the current commercial licence/registration certificate (if any).
4. Coloured copies of passports of shareholders of the company and the appointed manager.
5. Registry Identification Code form for the appointed manager (original notarised copy is to be submitted).
6. Copies of the signatures of the shareholders of the company and the appointed manager.
7. No objection letter from the current sponsor (for individuals).
8. Title deed of the real estate unit.
9. Audited financial reports on the company’s balance sheet for two years, for corporate entities, or a reference bank certificate for individual shareholders.
10. After obtaining the initial approval, registration fees and license fees shall be paid.

Registration of business in the free zone, the following documents shall also be submitted:

1. Registration application form with full details.
2. Board Resolution: A formal resolution stating the appointment of the manager/director notarized and certified).
3. Power of Attorney: Granting authority to a representative to act on behalf of the company as necessary.
4. Memorandum and Articles of Association: - Company's structure, objectives, and regulations governing the company (duly notarised and certified).
5. Passport Copies: Valid copies of the passport(s) of all shareholders and managers/directors.
6. Passport-Sized Photo: A recent passport-sized photo of the manager/director.
7. Business Name Reservation Certificate: Document confirming the reservation of the company name.
8. Business Plan: A comprehensive plan detailing the business’s objectives, market analysis, and projected financials.
9. Leasing Agreement: Lease contract for the office space or proof of virtual office address (if applicable).
10. Shareholder Documentation: Identification documents of shareholders, including residency visas if applicable
11. Information on the contributed capital and deposit confirmation: proof of initial capital being deposited in a corporate bank account (if required by the free zone).
12. Licenses or permits, if the business activities are regulated (e.g., commercial, health, education, information technology, real estate).
13. No Objection Certificate (NOC) (if applicable): - Required from sponsors for expatriates wishing to start a business.
14. Other documents as required by the specific zone.

Note :Cost of Incorporation- Registration costs vary based on the free zone and the scale of operations, ranging from approximately $1,360 for freelancers to around $17,000 for small businesses with office space. It’s essential to confirm costs with the respective free zone.

Regulatory Authority: While the above list is applicable to many free zones in Dubai, it's essential to confirm specific requirements with the individual free zone authority you are considering as procedures .Required documents can vary slightly depending on the location and nature of the business.

Approval Process-Certain activities may require additional approvals from relevant UAE government authorities.Source -Business setup guidelines by specific free zones, Dubai Economic Department (DED).

Types of Licenses- Various licenses are available, depending on the nature of the business: commercial, media, industrial, consultancy, e-commerce, manufacturing, etc. Different licenses come with different requirements and costs.

Dubai Free Zones Council, UAE Commercial Companies Law (Federal Law No. 2 of 2015)