Establishing a business is not a difficult task. Many people step back from it because it takes some extra effort but it is mandatory to use effort with direction and intelligence. The efforts without intelligence and direction are just waste of time and you will get nothing in the end. It will also make you stressed. So if you are going to start your business then choose wisely then which sort of business you want to start and where. If you want to start your business in Dubai, then free zones are the best places to start your business. If you are not from Dubai and you will be new there then freezones are best for you because it has less paperwork. But you should know some key steps to start business there.
It provides opportunity for single shareholder company and you will make there a limited company.
Aspects of a freezone company:
You can develop all sorts of companies in free zones. There is no limitation for any types of company. But before establishing your company there, you will need to get license of your company.
There is difference between freezone establishment and freezone company. FZE will be a sole shareholder company while FZC will be multiple shareholder company. You can also set up a branch of your company there.
Choose a trade name for your company:
Before fulfilling all the legal requirements for your company you must a trade name for your company. While choosing name, keep it in mind that you can not use ABU DHABI OR UNITED ARAB EMIRATES with your company name. list of restricted names for company are also available on internet. You can also check it there.
Personal details for licensing:
If you are going to apply for license then following are the requirements for licensing.
- Personal details of owner
- Bank reference
- Letter of appointment with manager
Legal requirements for company:
- Registration of company
- Bank reference letter
- Letter of appointment with manager, passport copy, power of attorney
- After receiving all of these documents, the freezone management issues the license and firstly they keep these documents for few days and then after verification they release these documents after verification
With all of this information available to you, you are now in the position to establish your business in any of the multiple free zones of Dubai.